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Frequently Asked Questions - Business Enterprise Tax

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What is the Business Enterprise Tax (BET)

A 0.75% tax, for taxable periods ending on or after July 1, 2001, is assessed on the enterprise value tax base, which is the sum of all compensation paid or accrued, interest paid or accrued, and dividends paid by the business enterprise, before special adjustments and apportionment.

Who pays it?

For taxable periods ending on or after taxable period December 31, 2013, enterprises with more than $200,000 of gross receipts from all their activities, or an enterprise value tax base more than $100,000, are required to file a return.

For taxable periods ending before December 31, 2013, enterprises with more than $150,000 of gross receipts from all their activities, or an enterprise value tax base more than $75,000, are required to file a return.

When is the return due?

Proprietorship, partnership and fiduciary returns are due on the 15th day of the 4th month following the end of the taxable period. Corporate and combined returns are due on the 15th day of the 3rd month following the end of the taxable period. Non-profit returns are due on the 15th day of the 5th month following the end of the taxable period.

Do I have to make estimated payments?

Yes, for taxable periods ending on or after December 31, 2013, if your estimated tax liability exceeds $260. Four estimate payments are required, paid at 25% each on the 15th day of the 4th, 6th, 9th and 12th month of the taxable period.

For taxable periods ending before December 31, 2013, if your estimated tax liability exceeds $200, four estimate payments are required, paid at 25% each on the 15th day of the 4th, 6th, 9th and 12th month of the taxable period.


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Who do I contact with questions?

Call Central Tax Services at (603) 230-5920.

I am not required to file a BET return, why do you want the form?

If the BET return is not required, you must check NO in Step 2 on Form BT-Summary, otherwise the Department assumes you are required to file the BET return. All taxpayers must file the Form BT-Summary to report the correct name and address information, summarize the taxes due and payment information and sign the return.

Where can I obtain more information?

For more information, you may review RSA 77-E and NH Code of Administrative Rules, Rev 2400.

Are guaranteed payments to partners included in BET base?

Yes

Who pays BET on intercompany dividends?

The affiliate and the parent can deduct the dividend.

Can unused BET credit be carried forward to future years and for how long?

Any unused BET credits may be carried forward for up to five (5) years.

Is interest paid to depositors included in the BET base of a bank?

Yes

Is a non-profit organization required to file the BET return?

Yes, if it meets the filing requirements and is not an organization exempt from federal taxes as described in Internal Revenue Code section 501(c)(3).


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When should an "employee Leasing Company" include payments made to its "leased employees" for services provided to the Employee Leasing Company"s customers (the "servicing company(s)" in their capacity as a "leased employee" in its Business Enterprise Tax Base?

If the leasing company qualifies as the "employer" (paying the W-2 wages of the leased employee) the compensation factor would apply to the leasing company. Therefore, the compensation paid or accrued by the leasing company would be included in the tax base of that enterprise if that enterprise issued the individuals federal W-2 statement.

RSAs 77-E:1, V; 77-E:1,VII; 77-E:1,VIII and Rev. 2402.01


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