New Hampshire General Information Questionnaire

State:
Multi-State
Control #:
US-01304BG
Format:
Word; 
Rich Text
Instant download

Description

The first part of this questionnaire is designed to be useful in most civil and criminal representations. The last part can be used when screening prospective personal injury litigation clients. The questionnaire can be completed by the attorney during a first meeting with prospective clients or mailed to the client in advance and reviewed at a first meeting.

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FAQ

New Hampshire's business profits tax (BPT) is a flat-rate tax on a business's taxable income (taxable income being determined essentially by federal income tax rules, with a few adjustments). The state budget passed in June 2021 scheduled a BPT decrease from 7.7% to 7.6% starting in 2022. Now, it's down to 7.5%.

Every business organization with gross business income from all business activities of more than $50,000 must file a BPT return.

While New Hampshire businesses do not collect sales tax from residents for items sold in person or online, they sometimes must collect sales tax for items going to other states. However, it is dependent on the laws of each state, as well as the businesses' activity within those states.

NH has two corporate taxes: the Business Profits Tax (BPT) and the Business Enterprise Tax (BET). The BPT rate is 8.5% of income for corporations with gross receipts over $50K. The BET rate is 0.75% on the enterprise value tax base (total compensation paid out, including dividends and interest).

Any business organization, organized for gain or profit carrying on business activity within the State is subject to this tax.

New Hampshire is a state that doesn't have a personal income tax. However, currently, the state has a 5% tax on dividends and interest. However, due to legislation, the tax on dividends and interest is being phased out. The rate will be 4% for 2023, 3% for 2024, 2% for 2025, and 1% for 2026.

New Hampshire does not tax individuals' earned income, so you are not required to file an individual New Hampshire tax return. The state only taxes interest and dividends at 5% on residents and fiduciaries whose gross interest and dividends income, from all sources, exceeds $2,400 annually ($4,800 for joint filers).

There is no state income tax in New Hampshire, so your Social Security, benefits, pension, and retirement distributions are safe. However, New Hampshire currently taxes interest and dividend income at 4%. This tax will gradually decrease until it is eliminated in 2027.

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New Hampshire General Information Questionnaire