reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:18 - Returns and Declarations.

[RSA 77:18 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:18 Returns and Declarations. –
I. Returns of income shall be made to the commissioner of revenue administration on or before the fifteenth day of the fourth month following the expiration of the tax year. The commissioner shall adopt rules pursuant to RSA 541-A relative to the prescribed form for filing returns under this section and for filing joint returns under RSA 77:5-a. Returns required by this chapter shall be made under the penalty of perjury.
II. At the same time the return is filed, as required by paragraph I of this section, every taxpayer as defined in RSA 77:3 shall, in addition, file a declaration of its estimated tax for its subsequent taxable period; provided, however, that if the estimated tax is less than $500, a declaration need not be filed; and provided further that a declaration shall be filed at the end of any quarter thereafter in which the annualized estimated tax exceeds $500.
III. (a) One quarter of the taxpayer's estimated tax for the subsequent taxable period is due and payable on the fifteenth day of the fourth month of the subsequent taxable year;
1/4 is due and payable on the fifteenth day of the sixth month of the subsequent taxable year;
1/4 is due and payable on the fifteenth day of the ninth month of the subsequent taxable year; and
1/4 is due and payable on the fifteenth day of the twelfth month of the subsequent taxable year, unless the taxpayer is a calendar year taxpayer in which case the final
1/4 is due and payable on the fifteenth day of the January next following the tax year.
(b) If the return required by RSA 77:18, I shows an additional amount to be due, such additional amount is due and payable on the original statutory due date. If such return shows an overpayment of the tax due, the commissioner shall refund or credit the overpayment to the taxpayer in accordance with RSA 21-J:28-a.
IV. Notwithstanding the provisions of paragraphs I-III, the following individuals shall not be required to file a return and shall not be considered to have gross or net taxable income for the purposes of this chapter:
(a) Every individual whose total interest and dividend income is less than $2,400 for a taxable period.
(b) For joint filers whose total interest and dividend income is less than $4,800 for a taxable period.
V. A taxpayer may elect to credit all or a portion of the education tax credit computed under RSA 77-G:4 against the tax due and payable under this chapter.
Source.
1923, 65:13. PL 65:18. 1927, 16:1. RL 78:18. 1947, 139:1. 1950, 5, part 8:13. RSA 77:18. 1973, 544:8. 1975, 439:32. 1981, 314:6. 1983, 469:93. 1986, 197:1. 1987, 236:1. 1988, 8:1, 23:1. 1991, 163:12. 1995, 160:1; 188:4. 2002, 45:1, eff. Jan. 1, 2004. 2018, 341:10, eff. July 1, 2018.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:18-a - Fiscal Year Taxpayers' Returns.

[RSA 77:18-a repealed by 2021, 91:99, II, effective January 1, 2025.]
77:18-a Fiscal Year Taxpayers' Returns. –
Taxpayers who file a federal income tax return on a fiscal year basis shall file the return required by RSA 77:18 on the same fiscal year, paying the tax due on the fifteenth day of the fourth month following the end of said fiscal year. Taxpayers who elect for federal tax purposes to change their tax year shall have an exemption allowed under RSA 77:5 in the same proportion as their tax year bears to the calendar year.
Source.
1977, 85:1. 1983, 469:94, eff. Dec. 31, 1983.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:18-b - Extension of Time for Returns.

[RSA 77:18-b repealed by 2021, 91:99, II, effective January 1, 2025.]
77:18-b Extension of Time for Returns. –
For good cause, the commissioner may extend the time within which a taxpayer is required to file a return, and if such return is filed during the period of extension no penalty may be imposed for failure to file the return at the time required by this chapter, but the taxpayer shall be liable for interest and late payment charges as prescribed in RSA 21-J:28, 32, or 33. Failure to file the return within the period of extension shall void the extension.
Source.
1981, 314:7. 1985, 414:4. 1988, 23:2. 1991, 163:13, eff. May 27, 1991.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:19 - Inspection.

[RSA 77:19 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:19 Inspection. –
Returns shall not be open to the inspection of any person except the commissioner of revenue administration and his deputies, assistants and clerks when acting under his authority; provided, that a properly authorized representative of the federal internal revenue bureau may inspect such returns if reciprocal inspection of New Hampshire returns in that bureau is permitted to the commissioner of revenue administration or his representatives.
Source.
1923, 65:13. PL 65:19. RL 78:19. 1950, 5, part 8:9. RSA 77:19. 1973, 544:8, eff. Sept. 1, 1973.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:20 - Information as to Filing of Returns.

[RSA 77:20 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:20 Information as to Filing of Returns. –
The commissioner of revenue administration shall on the request of any inhabitant of the state, state the fact whether or not any person has filed an income tax return for the current or any prior year.
Source.
1923, 65:13. PL 65:20. RL 78:21. RSA 77:20. 1973, 544:8, eff. Sept. 1, 1973.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:21-b - Interest.

[RSA 77:21-b repealed by 2021, 91:99, II, effective January 1, 2025.]
77:21-b Interest. –
Any taxpayer who fails to make payment with a return when due shall be subject to interest computed as prescribed in RSA 21-J:28.
Source.
1985, 414:5. 1988, 23:3, eff. Mar. 16, 1988.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:22 - Warrants, Collection.

[RSA 77:22 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:22 Warrants, Collection. –
The commissioner of revenue administration may issue a warrant for the collection of any overdue tax to the tax collector of any town or city, which shall have the same remedies and the same fees for the collection of such taxes as are provided by law for his collection of taxes on personal estate.
Source.
1923, 65:15. PL 65:23. RL 78:24. RSA 77:22. 1973, 544:8, eff. Sept. 1, 1973.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:23 - To Whom Payable.

[RSA 77:23 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:23 To Whom Payable. –
All taxes assessed hereunder shall be paid to the commissioner of revenue administration by the taxpayer.
Source.
1923, 65:16. PL 65:24. RL 78:25. 1950, 5, part 8:11. RSA 77:23. 1973, 544:8, eff. Sept. 1, 1973.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:24 - Reassessment by Department of Revenue Administration.

[RSA 77:24 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:24 Reassessment by Department of Revenue Administration. –
The department of revenue administration shall reassess the amount of the tax in every case in which it appears in the examination of the returns that the amount paid is either higher or lower than the actual tax due. The department shall notify the taxpayer of any corrections made. If the department of revenue administration determines a deficiency, the amount of said deficiency and interest as prescribed in RSA 21-J:28 shall be forwarded by the taxpayer to the department of revenue administration within 15 days from the date of the required notice. If the reassessment results in a determination of overpayment, the amount of the excess shall be repaid to the taxpayer in the manner provided by RSA 21-J:28-a. All assessments made under this section shall be subject to the same right of appeal as provided in RSA 21-J:28-b, and nothing contained in this section shall be construed to limit the power of the commissioner of revenue administration to make a later assessment under RSA 21-J:29 and to seek penalties for fraudulent returns as provided by RSA 77:30.
Source.
1950, 5, part 8:15. RSA 77:24. 1973, 544:11, IV. 1975, 439:24. 1981, 314:9; 465:2. 1982, 42:96. 1983, 441:2. 1985, 204:9. 1991, 163:14, eff. May 27, 1991.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:24-b - Corrections.

[RSA 77:24-b repealed by 2021, 91:99, II, effective January 1, 2025.]
77:24-b Corrections. –
Each taxpayer shall report to the commissioner of revenue administration any change in the amount of the taxpayer's income as defined by RSA 77:4 as finally determined by the United States Internal Revenue Service with respect to any beneficial interest for which the taxpayer has made a return under this chapter. Such a report shall be made not later than 6 months after the taxpayer has received notice that such change has been finally determined. Notwithstanding any other provision of law, a taxpayer reporting a correction pursuant to this section shall be given notice by the department of any adjustment to the tax due with respect to such correction within 6 months after the filing of the report.
Source.
1981, 314:10. 1995, 45:2, eff. July 2, 1995.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:30 - Penalty; Fraudulent or Incorrect Return.

[RSA 77:30 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:30 Penalty;  Fraudulent or Incorrect Return. –
I. [Repealed.]
II. For purposes of the application of RSA 21-J:31 to this chapter, if a return is not filed when due and the failure to file a return when due is not a violation of any provision of RSA 21-J:39, then neither the $10 nor the $50 alternate penalties of RSA 21-J:31 shall apply to the return.
III. [Repealed.]
Source.
1923, 65:22. PL 65:33. RL 78:34. RSA 77:30. 1973, 528:19; 544:8. 1986, 197:2. 1989, 61:1. 1991, 163:15, 43, VIII, eff. May 27, 1991.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:33 - Expenses of Administration.

[RSA 77:33 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:33 Expenses of Administration. –
The expense of administration of this chapter shall be paid out of said taxes.
Source.
1923, 65:29. PL 65:29. RL 78:30.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:35 - Questions of Law.

[RSA 77:35 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:35 Questions of Law. –
The board of tax and land appeals may, at any time, reserve, certify and transfer to the supreme court for decision any question of law which may arise in connection with the administration of this chapter.
Source.
1923, 65:23. PL 65:35. RL 78:35. RSA 77:35. 1973, 544:13, eff. Sept. 1, 1973.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:36 - Disposal of Papers.

[RSA 77:36 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:36 Disposal of Papers. –
The commissioner of revenue administration may destroy any tax returns on file in the department of revenue administration for more than 4 years which, in his opinion, are no longer of any value to the state.
Source.
1929, 108:2. RL 78:20.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:37 - Taxpayer Records.

[RSA 77:37 repealed by 2021, 91:99, II, effective January 1, 2025.]
77:37 Taxpayer Records. –
I. Every taxpayer shall:
(a) Keep such records as may be necessary to determine the amount of its liability under this chapter.
(b) Preserve such records for the period of 3 years or until any litigation or prosecution under this chapter is finally determined.
(c) Make such records available for inspection by the commissioner or authorized agents, upon demand, at reasonable times.
II. Whoever violates the provisions of this section shall be subject to the penalties imposed under RSA 21-J:39.
Source.
2007, 152:1, eff. Aug. 17, 2007.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77 - Taxation of Incomes › Section 77:38 - to 77:50 Repealed by 2011, 47:1, II, eff. May 23, 2011.

77:38 to 77:50 Repealed by 2011, 47:1, II, eff. May 23, 2011. –
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:2 - Imposition of Tax.

77-A:2 Imposition of Tax. –
I. For all taxable periods ending on or after December 31, 2019, a tax is imposed at the rate of 7.7 percent upon the taxable business profits of every business organization.
II. For all taxable periods ending on or after December 31, 2022, a tax is imposed at the rate of 7.6 percent upon the taxable business profits of every business organization.
III. For all taxable periods ending on or after December 31, 2023, a tax is imposed at the rate of 7.5 percent upon the taxable business profits of every business organization.
Source.
1970, 5:1. 1971, 515:14. 1977, 593:1. 1993, 350:8, 9. 1999, 17:19. 2001, 158:19, eff. July 1, 2001. 2015, 274:23, eff. Jan. 1, 2016. 2017, 156:213, eff. Jan. 1, 2019. 2019, 346:200, eff. July 1, 2019. 2021, 91:110, eff. June 25, 2021. 2022, 189:1, eff. June 17, 2022.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:2-b - Conditions for Employment of Only Water's Edge Combination.

77-A:2-b Conditions for Employment of Only Water's Edge Combination. –
I. The commissioner shall determine liability for any business organization subject to the tax imposed under RSA 77-A:2 for the elements of both tax base and apportionment by the water's edge method except as provided in paragraph II.
II. The commissioner shall not be compelled to apply the water's edge method if the taxpayer fails to comply with the rules adopted by the department of revenue administration or the procedural requirements of RSA 77-A.
Source.
1986, 153:4, eff. July 1, 1986.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:3-a - Expense Deductions.

77-A:3-a Expense Deductions. –
In determining gross business profits before net operating loss and special deductions, a business organization shall calculate expense deductions as permitted under Section 179 of the Internal Revenue Code as provided in RSA 77-A:1, XX, except that for property placed in service on or after January 1, 2018, a business organization shall calculate expense deductions not to exceed $500,000.
Source.
2012, 279:10, eff. June 21, 2012. 2016, 295:4, eff. Jan. 1, 2017. 2017, 156:218, eff. Jan. 1, 2018.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:3-b - Adjustments; Internal Revenue Code Provisions.

77-A:3-b Adjustments;  Internal Revenue Code Provisions. –
In determining gross business profits for any period, before net operating loss and special deductions, a business organization shall apply the provisions of the United States Internal Revenue Code consistent with the provisions of this chapter, with the following adjustments:
I. The United States Internal Revenue Code shall be applied without section 168(k) of such code.
II. [Repealed.]
III. The United States Internal Revenue Code shall be applied without section 181 of such code.
IV. Section 179 of the Internal Revenue Code shall be applied as provided in RSA 77-A:3-a.
Source.
2016, 295:2, eff. June 21, 2016. 2019, 346:205, eff. Jan. 1, 2020.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:3-c - Clarification of Tax Treatment of Paycheck Protection Program (PPP) Loans.

77-A:3-c Clarification of Tax Treatment of Paycheck Protection Program (PPP) Loans. –
In determining gross business profits for any period, before net operating loss and special deductions, notwithstanding any other provision of law, a business organization shall apply the provisions of the United States Internal Revenue Code consistent with the following adjustments:
I. No amount shall be included in the gross business income of the eligible recipient by reason of forgiveness of indebtedness issued or created under the federal Paycheck Protection Program (PPP) which was first established under the federal Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136, enacted March 3, 2020) or issued or created under the federal PPP Second Draw Loan Program established under the federal Consolidated Appropriations Act, 2021 (P.L. 116-260, enacted December 27, 2020).
II. No deduction shall be denied, no tax attribute shall be reduced, and no basis increase shall be denied, by reason of the exclusion from gross business income provided by paragraph I.
III. This section shall apply to taxable years ending after March 3, 2020, corresponding with the date of the enactment of the federal Coronavirus Aid, Relief, and Economic Security Act.
Source.
2021, 74:1, eff. June 10, 2021.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:3-d - Treatment of Water and Sewerage Disposal Utilities.

77-A:3-d Treatment of Water and Sewerage Disposal Utilities. –
In determining gross business profits, a business organization shall apply section 118 of the United States Internal Revenue Code consistent with the following adjustments:
I. The term "contribution to the capital of the taxpayer" includes any amount of money or other property received from any person, whether or not a shareholder, by a regulated public utility which provides water or sewerage disposal services if:
(a) Such amount is:
(1) A contribution in aid of construction; or
(2) A contribution to the capital of such utility by a governmental entity providing for the protection, preservation, or enhancement of drinking water or sewerage disposal services;
(b) In the case of a contribution in aid of construction which is property other than water or sewerage disposal facilities, such amount meets the requirements of the expenditure rule of paragraph II; and
(c) Such amount, or any property acquired or constructed with such amount, is not included in the taxpayer's rate base for ratemaking purposes.
II. An amount meets the requirements of subparagraph I(b) if:
(a) An amount equal to such amount is expended for the acquisition or construction of tangible property described in United States Internal Revenue Code section 1231(b):
(1) Which is the property for which the contribution was made or is of the same type as such property; and
(2) Which is used predominantly in the trade or business of furnishing water or sewerage disposal services;
(b) The expenditure referred to in subparagraph (a) occurs before the end of the second taxable year after the year in which such amount was received; and
(c) Accurate records are kept of the amounts contributed and expenditures made, the expenditures to which contributions are allocated, and the year in which the contributions and expenditures are received and made.
III. For purposes of this section:
(a) "Contribution in aid of construction" shall mean as the term is defined by the United States Department of the Treasury's Treasury Regulations 1.118-2 (2001), except that such term shall not include amounts paid as service charges for starting or stopping services.
(b) "Predominantly" means 80 percent or more.
(c) "Regulated public utility" has the meaning given such term by Internal Revenue Code section 7701(a)(33), except that such term shall not include any utility which is not required to provide water or sewerage disposal services to members of the general public in its service area.
IV. Notwithstanding any other provisions of law, no deduction or credit shall be allowed for, or by reason of, any expenditure which constitutes a contribution in aid of construction to which this section applies. The adjusted basis of any property acquired with contributions in aid of construction to which this section applies shall be zero.
Source.
2022, 12:4, eff. Apr. 11, 2022.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:4-a - Special Rule for "Safe Harbor" and Other Similar Leases.

77-A:4-a Special Rule for "Safe Harbor" and Other Similar Leases. –
For the purpose of preserving income lost through federal changes to the United States Internal Revenue Code (1954), as amended, on leasing transactions, the commissioner shall adopt rules, pursuant to RSA 541-A, relative to deductions and additions to gross business profits for business organizations involved in leasing transactions known as "safe harbor" leases under section 168(f)(8) of the United States Internal Revenue Code (1954), as amended, or other similar leasing transactions.
Source.
1983, 318:4, eff. June 30, 1983.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:4-b - Special Rule for Exchanges of Like-Kind Property Under Internal Revenue Code Section 1031.

77-A:4-b Special Rule for Exchanges of Like-Kind Property Under Internal Revenue Code Section 1031. –
I. In the case of a qualified like-kind exchange under Internal Revenue Code section 1031, in which a business organization uses a single member limited liability company, revocable trust, or other entity disregarded for federal income tax purposes as the recipient of replacement property, the recipient entity shall take the basis of the relinquished property as held by the parent business organization, prior to the exchange, as computed for federal income tax purposes.
II. The recipient of the replacement property, for all other purposes, and in keeping with the requirements of separate entity taxation under this chapter, shall be a business organization, as defined in RSA 77-A:1, I and subject to the provisions of RSA 77-A.
Source.
2010, 286:1, eff. July 8, 2010.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:7 - Payments Due With Returns and With Estimates.

77-A:7 Payments Due With Returns and With Estimates. –
I. (a) All business organizations required under RSA 77-A:6, II to make payments of estimated tax shall make such payments in installments as follows: 25 percent is due and payable on the fifteenth day of the fourth month of the subsequent taxable year; 25 percent is due and payable on the fifteenth day of the sixth month of the subsequent taxable year; 25 percent is due and payable on the fifteenth day of the ninth month of the subsequent taxable year; and 25 percent is due and payable on the fifteenth day of the twelfth month of the subsequent taxable year. Any business enterprise tax credit which may be applied under RSA 77-A:5, X may be applied to the estimated tax payments.
(b) If the return required by RSA 77-A:6, I shows an additional amount to be due, such additional amount is due and payable on the prescribed payment date. If such return shows an overpayment of the tax due, the commissioner shall refund or credit the overpayment to the taxpayer in accordance with RSA 21-J:28-a, except that:
(1) For taxable periods ending on or after December 31, 2022 a credit shall only be allowed in an amount up to 500 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded;
(2) For taxable periods ending on or after December 31, 2025 a credit shall only be allowed in an amount up to 250 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded; and
(3) For taxable periods ending on or after December 31, 2027 a credit shall only be allowed in an amount up to 100 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded.
II. [Repealed.]
Source.
1970, 5:1; 56:6. 1971, 515:8. 1973, 544:9. 1975, 439:34, VII. 1979, 446:4. 1988, 23:4. 1990, 3:71. 1991, 163:17. 1993, 350:18, eff. July 1, 1993. 2012, 253:1, eff. July 1, 2012. 2021, 91:115, eff. June 25, 2021.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:8 - Additional Returns.

77-A:8 Additional Returns. –
When the commissioner has reason to believe that a taxpayer has failed to file a return or to include any part of its gross business profits in a filed return, the commissioner may require the taxpayer to file a return or a supplementary return showing such additional information as the commissioner prescribes. Upon the receipt of the supplementary return, or if none is received within the time set by the commissioner, the commissioner may find and assess the amount due upon the information that is available. The making of such additional return does not relieve the taxpayer of any penalty for failure to make a correct original return or relieve it from liability for interest imposed under RSA 21-J:28 or any other additional charges imposed by the commissioner. This section shall not be construed to modify or extend the statute of limitations provided in RSA 21-J:29.
Source.
1970, 5:1. 1971, 515:9. 1973, 544:9. 1975, 439:30. 1991, 163:18, eff. May 27, 1991.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:9 - Extension of Time for Returns.

77-A:9 Extension of Time for Returns. –
For good cause, the commissioner may extend the time within which a taxpayer is required to file a return, and if such return is filed during the period of extension no penalty may be imposed for failure to file the return at the time required by this chapter, but the taxpayer shall be liable for interest and late payment charges as prescribed in RSA 21-J:28, 32, or 33. Failure to file the return during the period of the extension shall void the extension.
Source.
1970, 5:1. 1971, 515:10. 1973, 544:9. 1981, 445:10; 465:4. 1982, 42:98. 1983, 441:4. 1985, 204:11. 1991, 163:19, eff. May 27, 1991.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:10 - Corrections.

77-A:10 Corrections. –
Each taxpayer shall report to the commissioner of revenue administration any change in the amount of its gross business profits as finally determined by the United States Internal Revenue Service with respect to any previous year for which the taxpayer has made a return under this chapter. Such a report shall be made not later than 6 months after the taxpayer has received notice from the United States Internal Revenue Service that such change has finally been determined. Notwithstanding any other provision of law, a taxpayer reporting a correction pursuant to this section shall be given notice by the department within 6 months of the filing of the report that the return is being reviewed.
Source.
1970, 5:1. 1973, 544:9. 1991, 163:20, eff. May 27, 1991. 2013, 90:3, eff. Aug. 19, 2013.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:11 - Taxpayer Records.

77-A:11 Taxpayer Records. –
Every business organization shall:
I. Keep such records as may be necessary to determine the amount of its liability under this chapter and to determine whether the compensation claimed as a deduction under RSA 77-A:4, III is reasonable;
II. Preserve such records for the period of 3 years or until any litigation or prosecution hereunder is finally determined;
III. Make such records available for inspection by the commissioner or authorized agents, upon demand, at reasonable times during regular business hours. Whoever violates the provisions of this section shall be subject to the penalties imposed under RSA 21-J:39.
IV. Any taxpayer records obtained or inspected by the commissioner or his or her agents for the purpose of conducting an audit of the taxpayer's compliance or liability under this chapter shall be kept confidential and not disclosed for any purpose unless required by law.
V. In any judicial proceeding under this chapter, all taxpayer records and related pleadings shall remain sealed and not disclosed to any non-party to the proceeding for any purpose unless required by law.
Source.
1970, 5:1. 1973, 528:21; 544:9, 11, VIII. 1991, 163:21. 1996, 154:4. 2011, 207:5, eff. June 25, 2011. 2017, 254:1, eff. Sept. 16, 2017.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:15 - Administration.

77-A:15 Administration. –
I. The commissioner shall collect the taxes, interest, additions to tax and penalties imposed under this chapter. The commissioner shall determine the expense of administration of this chapter and shall certify and pay over to the state treasurer the amount of remaining balance of the funds collected under this chapter after the expenses of administration have been deducted.
II. The commissioner of revenue administration shall adopt rules, pursuant to RSA 541-A, relative to:
(a) The administration of the business profits tax; and
(b) The recovery of any tax, interest on tax, or penalties imposed by this chapter or by RSA 21-J.
III. The commissioner may institute actions in the name of the state to recover any tax, interest on tax, additions to tax or the penalties imposed by this chapter.
IV. In the collection of the tax imposed by this chapter, the commissioner may use all of the powers granted to tax collectors under RSA 80 for the collection of taxes, except that the tax imposed by this chapter shall not take precedence over prior recorded mortgages. The commissioner shall also have all of the duties imposed upon the tax collectors by RSA 80 that are applicable. The provisions of RSA 80:26 apply to the sale of land for the payment of taxes due under this chapter, and the state treasurer is authorized to purchase the land for the state. If the state purchases the land, the state treasurer shall certify the purchase to the governor, and the governor shall draw a warrant for the purchase price out of any money in the treasury not otherwise appropriated.
V, VI. [Repealed.]
Source.
1970, 5:1; 57:2, 5. 1973, 544:9, 11. 1975, 439:34, VIII. 1977, 118:1. 1979, 446:5. 1981, 128:18, 19; 445:12. 1991, 163:22, 43, XIV. 1996, 154:5, eff. July 1, 1996.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:18 - Certifications for Dissolution, Withdrawal and Good Standing.

77-A:18 Certifications for Dissolution, Withdrawal and Good Standing. –
I. (a) No corporation and no limited liability company organized under any law of this state may transfer property to its shareholders pursuant to RSA 293-A:14.05(a) or to its members and managers pursuant to RSA 304-C:141 until all taxes, interest, and penalties imposed upon the corporation or limited liability company under this chapter have been fully paid and a certificate of dissolution shall have been obtained from the commissioner of revenue administration that no returns, tax, interest, or penalties for taxes administered by the department are due and unpaid.
(b) A corporation or limited liability company wishing to transfer property to its shareholders pursuant to RSA 293-A:14.05(a) or to its members or managers pursuant to RSA 304-C:141 shall submit a written request containing the complete corporate or limited liability company name and identification number and accompanied by a nonrefundable fee of $30 to the commissioner of revenue administration. This fee shall be deposited into the general fund. If, after reviewing the corporation's or limited liability company's records, the commissioner determines that no returns, tax, interest, or penalties for taxes administered by the department are due and unpaid, the commissioner shall prepare a certificate in accordance with subparagraph (a).
II. A business organization wishing to obtain a statement for withdrawal, in accordance with RSA 293-A:15.20(b)(6) or RSA 304-C:179, shall submit a written request containing the complete corporate or limited liability company name and identification number and accompanied by a nonrefundable fee of $30 to the commissioner of revenue administration. This fee shall be deposited into the general fund. If, after reviewing the business organization's records, the commissioner determines that no returns, tax, interest, or penalties for taxes administered by the department are due and unpaid, the commissioner shall prepare a statement for withdrawal for the purposes required under RSA 293-A:15.20(b)(6) or RSA 304-C:179.
III. A business organization wishing to obtain a statement that it is in good standing with the department of revenue administration shall submit a written request containing the complete corporate or limited liability company name and identification number and accompanied by a non-refundable fee of $30 to the commissioner of revenue administration. This fee shall be deposited into the general fund. If, after reviewing the business organization's records, the commissioner determines that no returns, tax, interest or penalties for taxes administered by the department are due and unpaid, the commissioner shall prepare a statement of good standing.
Source.
1970, 5:1. 1973, 544:9. 1989, 408:10. 1992, 255:2. 1993, 313:11, eff. July 1, 1993. 2012, 232:5, eff. Jan. 1, 2013.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:20-a - Distribution of Funds.

77-A:20-a Distribution of Funds. –
I. The commissioner shall determine 41 percent of the revenue produced by the tax imposed by RSA 77-A:2 for each fiscal year and shall certify such amounts to the state treasurer by October 1 of that year for deposit in the education trust fund established by RSA 198:39.
II. The commissioner shall make quarterly estimates of the amount of revenue that will be produced for the next fiscal year and shall certify such amounts to the state treasurer for deposit in the education trust fund established by RSA 198:39. Such estimates shall be certified on June 1, September 1, December 1, and March 1 of each year.
Source.
1999, 17:20. 2001, 158:20, eff. July 1, 2001. 2023, 79:191, eff. July 1, 2023.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-A - Business Profits Tax › Section 77-A:21 - Severability.

77-A:21 Severability. –
If any provision of this chapter or the application thereof to any person or circumstance is held to be invalid, the invalidity shall not affect any other provision or the application of such provision to other persons or circumstances, and to this end the provisions of this chapter are severable.
Source.
1981, 445:13, eff. July 1, 1981.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:2 - Imposition of Tax.

77-E:2 Imposition of Tax. –
I. For all taxable periods ending on or after December 31, 2019, a tax is imposed at the rate of 0.6 percent upon the taxable enterprise value tax base of every business enterprise.
II. For all taxable periods ending on or after December 31, 2022, a tax is imposed at the rate of 0.55 percent upon the taxable enterprise value tax base of every business enterprise.
Source.
1993, 350:19. 1999, 17:21; 303:1. 2001, 158:21, eff. July 1, 2001. 2015, 274:24, eff. Jan. 1, 2016. 2017, 156:214, eff. Jan. 1, 2019. 2019, 346:201, eff. July 1, 2019. 2021, 91:109, eff. June 25, 2021.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:3 - Special Adjustments.

77-E:3 Special Adjustments. –
The following adjustments shall be made to the enterprise value tax base in determining taxable enterprise value tax base:
I. In the case of a business enterprise, the enterprise value tax base of which includes compensation derived from self-employment income subject to tax under section 1401 of the United States Internal Revenue Code, a deduction of such amounts of compensation as are retained for use in the business enterprise, except that no amount of compensation deducted under RSA 77-A:4, III shall be included in this deduction. The burden shall be upon the business enterprise to show that any amounts deducted have actually been retained for use in the business enterprise.
II. In the case of a business enterprise which is a corporation, a deduction of an amount equal to dividends received from another corporation which have previously been included in the payor corporation's taxable enterprise value tax base subject to taxation under this chapter and which payor corporation is, at the close of the day on which such dividend is received, a member of the same affiliated group as the corporation receiving the dividend. For purposes of this section, the term "affiliated group" shall have the meaning given such terms by section 1504(a) of the United States Internal Revenue Code, except that for such purposes sections 1504(b)(2), 1504(b)(4), and 1504(c) thereof shall not apply.
III. In the case of a business enterprise which is not a corporation, a deduction of an amount equal to dividend distributions received from another business enterprise which have previously been included in the payor business enterprise's taxable enterprise value tax base subject to taxation under this chapter and which payor business enterprise is, at the close of the day on which such dividend is received, a member of the same affiliated group as the business enterprise receiving the dividend distribution. For purposes of this section, the term "affiliated group" shall be determined by rules adopted by the commissioner similar to those applicable to corporations in paragraph II.
Source.
1993, 350:19, eff. July 1, 1993.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:3-b - Credit for Research and Development.

77-E:3-b Credit for Research and Development. –
The unused portion of any research and development credit awarded by the commissioner under RSA 77-A:5, XIII shall be available to apply to the business enterprise tax.
Source.
2007, 271:2, eff. July 1, 2007; 271:6, II, eff. July 1, 2015.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:3-c - Coos County Job Creation Tax Credit.

77-E:3-c Coos County Job Creation Tax Credit. –
I. (a) There shall be a tax credit allowed for each qualified tax credit employee, for up to 5 consecutive tax periods, as certified by the commissioner of business and economic affairs under RSA 162-Q:1. The amount of the tax credit shall be as follows:
(1) $750 for each qualified tax credit employee earning wages which are equal to or greater than 150 percent but less than 200 percent of the current state minimum wage.
(2) $1000 for each qualified tax credit employee earning wages which are equal to or greater than 200 percent of the current state minimum wage.
(b) If the position held by a qualified tax credit employee ceases to exist at any time during the 5 consecutive tax periods, the employer may not claim the credit for the tax period in which the position ceased to exist or for future tax periods within the 5 consecutive tax periods.
II. After being initially granted, the tax credit shall be renewable for 4 consecutive additional years, provided that no additional tax credit shall be granted under this chapter for any tax period after December 31, 2027.
III. Unused portions of this credit shall be carried forward up to 5 years. Unused, carried forward credit under this section shall be applied before any other available carry-forward credit.
IV. For the purpose of the credit allowed under this section, the Coos county job creation tax credit shall be considered taxes paid under RSA 77-E.
Source.
2008, 172:3, eff. June 9, 2008. 2013, 73:1, eff. July 1, 2013. 2017, 156:14, II, eff. July 1, 2017. 2019, 346:199, eff. July 1, 2019.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:3-d - Education Tax Credit.

77-E:3-d Education Tax Credit. –
The education tax credit as computed in RSA 77-G:4 shall be allowed against the tax due under this chapter.
Source.
2012, 287:3, eff. June 27, 2012.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:3-e - Granite State Paid Family Leave Plan Tax Credit.

77-E:3-e Granite State Paid Family Leave Plan Tax Credit. –
There shall be a tax credit allowed against the tax due under this chapter in an amount equal to 50 percent of the premium paid by a sponsoring employer for family and medical leave insurance coverage offered to employees pursuant to RSA 21-I:103 for the taxable period in which the premium is paid.
Source.
2021, 91:469, eff. July 1, 2021.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:5 - Returns.

77-E:5 Returns. –
I. Every business enterprise having gross business receipts in excess of $250,000 as defined by RSA 77-E:1, X, during the taxable period or the enterprise value tax base of which is greater than $250,000 shall, on or before the fifteenth day of the third month in the case of enterprises required to file a United States partnership tax return, the fifteenth day of the fifth month in the case of enterprises required to file a United States exempt organization return, and the fifteenth day of the fourth month in the case of all other business enterprises, following expiration of its taxable period, make a return to the commissioner. For tax years beginning January 1, 2015, the commissioner shall biennially adjust these threshold amounts rounding to the nearest $1,000 based on the 2-year (24-month) percentage change in the Consumer Price Index for All Urban Consumers, Northeast Region as published by the Bureau of Labor Statistics, United States Department of Labor using the amount published for the month of June in the year prior to the start of the tax year. All returns shall be signed by the business enterprise or by its authorized representative, subject to the pains and penalties of perjury and the penalties provided in RSA 21-J:39.
II. Every business enterprise shall in addition file a declaration of its estimated business enterprise tax for its subsequent taxable period; provided, however, if the estimated tax is less than $260, a declaration need not be filed; and provided further that a declaration shall be filed at the end of any quarter thereafter in which estimated tax exceeds $260. The declaration shall be filed when payments are due under RSA 77-E:6.
Source.
1993, 350:19. 1996, 235:2. 2001, 158:22, eff. July 1, 2001. 2012, 279:1, eff. as provided by 279:12, I. 2015, 183:2, eff. Aug. 28, 2015. 2016, 66:2, eff. July 4, 2016. 2021, 24:6, eff. May 6, 2021; 91:106, eff. Jan. 1, 2022.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:5-a - Election of Qualified Investment Company Status.

77-E:5-a Election of Qualified Investment Company Status. –
Business organizations that have elected qualified investment company status pursuant to RSA 77-A:5-b shall be qualified investment companies for the purposes of this chapter for the tax period or periods corresponding to the election.
Source.
2004, 143:7, eff. May 24, 2004.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:6 - Payments Due With Returns.

77-E:6 Payments Due With Returns. –
I. All business enterprises required under RSA 77-E:5, II to make payments of estimated tax shall make such payments in installments as follows: 25 percent is due and payable on the fifteenth day of the fourth month of the subsequent taxable year; 25 percent is due and payable on the fifteenth day of the sixth month of the subsequent taxable year; 25 percent is due and payable on the fifteenth day of the ninth month of the subsequent taxable year; and 25 percent is due and payable on the fifteenth day of the twelfth month of the subsequent taxable year.
II. If the return required by RSA 77-E:5, I shows an amount to be due, such amount is due and payable on the prescribed payment date. If such return shows an overpayment of the tax due, the commissioner shall refund or credit the overpayment to the business enterprise in accordance with RSA 21-J:28-a, except that:
(a) For taxable periods ending on or after December 31, 2022 a credit shall only be allowed in an amount up to 500 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded;
(b) For taxable periods ending on or after December 31, 2025 a credit shall only be allowed in an amount up to 250 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded; and
(c) For taxable periods ending on or after December 31, 2027 a credit shall only be allowed in an amount up to 100 percent of the total tax liability for the taxable period and the remainder of the overpayment shall be refunded.
Source.
1993, 350:19. 1996, 235:3, eff. July 1, 1996. 2021, 91:116, eff. June 25, 2021.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:7 - Additional Returns.

77-E:7 Additional Returns. –
When the commissioner has reason to believe that a business enterprise failed to file a return or to include any part of its enterprise value tax base in a filed return, the commissioner may require the enterprise to file a return or a supplementary return showing such additional information as the commissioner prescribes. Upon the receipt of the supplementary return, or if none is received within the time set by the commissioner, the commissioner may find and assess the amount due upon the information that is available. The making of such additional return does not relieve the business enterprise of any penalty for failure to make a correct original return or relieve it from liability for interest imposed under RSA 21-J:28 or any other additional charges imposed by the commissioner.
Source.
1993, 350:19, eff. July 1, 1993.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:8 - Extension of Time for Returns.

77-E:8 Extension of Time for Returns. –
For good cause, the commissioner may extend the time within which a business enterprise is required to file a return, and if such return is filed during the period of extension no penalty may be imposed for failure to file the return at the time required by this chapter, but the enterprise shall be liable for interest and late payment charges as prescribed in RSA 21-J:28 and RSA 21-J:33. Failure to file the return during the period of the extension shall void the extension.
Source.
1993, 350:19, eff. July 1, 1993. 2016, 66:3, eff. July 4, 2016.
2023 New Hampshire Revised Statutes › Title V - Taxation › Chapter 77-E - Business Enterprise Tax › Section 77-E:9 - Corrections.

77-E:9 Corrections. –
Each business enterprise shall report to the commissioner of revenue administration any change in the amount of its compensation, interest or dividends as finally determined by the United States Internal Revenue Service with respect to any previous year for which the business enterprise has made a return under this chapter. Such a report shall be made not later than 6 months after the business enterprise has received notice that such change has finally been determined. Notwithstanding any other provision of law, a business enterprise reporting a correction pursuant to this section shall be given notice by the department of any adjustment to the tax due with respect to such correction within 6 months after the filing of the report.
Source.
1993, 350:19, eff. July 1, 1993.