INSTRUCTIONS: NEW HAMPSHIRE BUSINESS PROFITS TAX RETURN (Form NH-1120)
Businesses operating in New Hampshire use a form NH-1120 to document and file their profits tax owed to the state. The document is found on the website of the New Hampshire Department of Revenue Administration.
New Hampshire Business Profits Tax Return NH-1120 Step 1: At the top of the first page, enter your organization's name and taxpayer identification number.
New Hampshire Business Profits Tax Return NH-1120 Step 2: If not filing on a calendar year basis, enter the beginning and ending dates of your fiscal year.
New Hampshire Business Profits Tax Return NH-1120 Step 3: Enter your gross business profits as documented on federal form 1120 on line 1.
New Hampshire Business Profits Tax Return NH-1120 Step 4: Document increases and decreases to gross business profits as instructed on lines 2a through 2g. Enter their total on line 2h.
New Hampshire Business Profits Tax Return NH-1120 Step 5: Subtract line 2h from line 1. Enter the resulting difference on line 3.
New Hampshire Business Profits Tax Return NH-1120 Step 6: Document separate entity items of income or expense on line 4.
New Hampshire Business Profits Tax Return NH-1120 Step 7: Document additions and deductions as instructed on lines 5a through 5k. Enter the net result of these values on line 5l.
New Hampshire Business Profits Tax Return NH-1120 Step 8: Add lines 3, 4 and 5l and enter the total resulting adjusted gross business profits on line 6.
New Hampshire Business Profits Tax Return NH-1120 Step 9: Multistate corporations should complete the separate BPT apportionment schedule to determine their New Hampshire apportionment on line 7. Multiply line 6 by line 7 and enter the resulting product on line 8.
New Hampshire Business Profits Tax Return NH-1120 Step 10: Multiply line 8 by 8.5% to compute your tax on line 9.
New Hampshire Business Profits Tax Return NH-1120 Step 11: Lines 10a and 10b document BET and other credits. If claiming a BET credit, complete the separate worksheet for this credit. The sum of this credit with all other claimed credits should be documented on a separate form DP-160.
New Hampshire Business Profits Tax Return NH-1120 Step 12: Subtract lines 10a and 10b from line 9 to determine your net tax due. Enter the resulting difference on line 11. Also document this on the separate BT-Summary form.
