New Hampshire Revenue Administration Department Logo
Website Name - an official New Hampshire Government website
Smaller text size Reset text size Larger text size
link to website translation page

Business Tax Data

The Business Profits Tax ("BPT") was enacted in 1970. The tax is assessed on income from conducting business activity within the state at the rate of 8.2%. For taxable periods ending on or after December 31, 2018, the BPT rate is reduced to 7.9%, because the amount of combined unrestricted general and education trust fund revenue collected for the biennium ending June 30, 2017 was more than $4.64 billion. For taxable periods ending on or after December 31, 2019, the BPT rate will be reduced to 7.7%. For all taxable periods ending on or after December 31, 2021, the BPT rate depends on the combined amount of general and education trust fund revenue collected for the fiscal year ending June 30, 2020, excluding $68,100,000 appropriated to the education trust fund (the “combined revenue”). If the combined revenue is 6% or more below the official revenue estimates, the BPT rate will be 7.9%. If the combined revenue is 6% or more above the official revenue estimates, the BPT rate will be 7.5%. Otherwise, the BPT rate will continue to be 7.7%.

For multi-state businesses, income is apportioned using a weighted sales factor of two and the standard payroll and property factors. Organizations operating a unitary business must use combined reporting in filing their NH return. Every business organization with gross business income from all business activities of more than $50,000 must file a BPT return.

The Business Enterprise Tax ("BET") was enacted in 1993. The tax is assessed on taxable 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 at the rate of .72%. For taxable periods ending on or after December 31, 2018, the BET rate is reduced to 0.675%, because the amount of combined unrestricted general and education trust fund revenue collected for the biennium ending June 30, 2017 was more than $4.64 billion. For taxable periods ending on or after December 31, 2019, the BET rate will be reduced to .60%. For all taxable periods ending on or after December 31, 2021, the BET rate depends on the combined amount of general and education trust fund revenue collected for the fiscal year ending June 30, 2020, excluding $68,100,000 appropriated to the education trust fund (the “combined revenue”). If the combined revenue is 6% or more below the official revenue estimates, the BET rate will be 0.675%. If the combined revenue is 6% or more above the official revenue estimates, the BET rate will be 0.50%. Otherwise, the BET rate will continue to be 0.60%. For taxable periods beginning on or after January 1, 2017, every business enterprise with more than $208,000 of gross receipts from all activities, or an enterprise value tax base of more than $104,000, must file a BET return. This changes to $217,000 or $180,000, respectively, for taxable periods beginning on or after January 1, 2019.

The BET paid may be used as a credit against the BPT. Any unused portion of the BET credit may be carried forward and allowed against the BPT for five taxable periods from the taxable period in which the BET was paid for credits attributable to taxable periods ending before December 31, 2014 and for ten taxable periods from the taxable period in which the BET was paid for credits attributable to taxable periods ending on or after December 31, 2014.

Reports

Related Links

Business Profits Tax "Frequently Asked Questions"
Business Profits Tax Laws
Business Profits Tax Rules
Business Enterprise Tax "Frequently Asked Questions"
Business Enterprise Tax Laws
Business Enterprise Tax Rules
Business Tax Forms and Instructions pdf file

Adobe Acrobat Reader Symbol Portable Document Format (.pdf). Visit nh.gov for a list of free .pdf readers for a variety of operating systems.


New Hampshire Department of Revenue Administration
Governor Hugh Gallen State Office Park
109 Pleasant Street (Medical & Surgical Building), Concord NH
(603) 230-5000  |  
TDD Access Relay NH: 1-800-735-2964  |  
fax: (603) 230-5945
Contact the Webmaster