New Hampshire Franchise Comparison Worksheet
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How to fill out Franchise Comparison Worksheet?
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FAQ
The tax is assessed on income from conducting business activity within the state at the rate of 7.7% for taxable periods ending on or after December 31, 2019. For taxable periods ending on or after December 31, 2022, the BPT rate is reduced to 7.6%.
For 2020 through 2021, the tax rate is 7.7%. For 2022 and later the rate lowers to 7.6%. The tax applies to income from business activity in the state, applied before any federal net operating loss or special deductions, and with various state-specific additions and deductions.
The business enterprise tax is imposed on the compensation, interest, and dividends paid by taxpayers engaged in business activities in New Hampshire.
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).
You are required to file this return if the gross business receipts were greater than $250,000 or the enterprise value tax base is greater than $250,000. Tax. Enter the beginning and ending dates of the taxable period.
Concurrently, BPT and BET rates were reduced incrementally in tax years 2016, 2018, 2019, and 2022. The 2015 BPT and BET rates were 8.5 percent and 0.75 percent, respectively, and are at 7.5 percent and 0.55 percent for tax year 2023.
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).
All domestic business partnerships headquartered in the United States must file Form 1065 each year, including general partnerships, limited partnerships, and limited liability companies (LLCs) classified as partnerships with at least two members.
All business organizations, including Limited Liability Companies (LLC), taxed as a partnership federally must file Form NH-1065 return provided they have conducted business activity in New Hampshire and their gross business income from everywhere is in excess of $92,000.