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Home » US Law » 2022 New Hampshire Revised Statutes » Title V - Taxation » Title 77-A - Business Profits Tax

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Section 77-A:23-b – Commission on Worldwide Combined Reporting for Unitary Businesses Under the Business Profits Tax.

[RSA 77-A:23-b repealed by 2022, 12:3, effective November 1, 2023.]     77-A:23-b Commission on Worldwide Combined Reporting for Unitary Businesses Under the Business Profits Tax. – There is established a commission to study the replacement of the water’s edge method by the worldwide combined reporting method for reporting and apportionment of income under the business […]

Section 77-A:3 – Apportionment.

[RSA 77-A:3 effective January 1, 2022 unless 2019, 346:426-429 are rescinded by majority vote of the committee established in RSA 77-A:23-a; see also RSA 77-A:3 set out above.]     77-A:3 Apportionment. – I. A business organization which derives gross business profits from business activity both within and without this state, and which is subject to […]

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 […]

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 […]

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 […]

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 […]

Section 77-A:4 – Additions and Deductions.

    77-A:4 Additions and Deductions. – The following adjustments shall be made to gross business profits in determining taxable business profits: [Paragraph I repealed by 2021, 91:99, IV effective January 1, 2027.] I. In the case of a business organization which is subject to taxation under RSA 77, a deduction of such amount of gross […]

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 […]

Section 77-A:5 – Credits.

[Introductory paragraph of paragraph XIII(b)(1) effective until January 1, 2022 unless 2019, 346:426-429 are rescinded by a majority vote of the committee established in RSA 77-A:23-a; see also introductory paragraph of paragraph XIII(b)(1) set out below.]     77-A:5 Credits. – The following credits are allowed against the tax due under this chapter: I. Taxes paid […]

Section 77-A:5-b – Election and Reporting for Qualified Investment Companies.

    77-A:5-b Election and Reporting for Qualified Investment Companies. – I. Business organizations shall file an election with the commissioner to be a qualified investment company with respect to any taxable period on a form prescribed by the commissioner at any time on or before the fifteenth day of the third month of such taxable […]

Section 77-A:6 – Returns, Declarations, and Combined Reporting.

    77-A:6 Returns, Declarations, and Combined Reporting. – I. Every business organization having gross business income in excess of $92,000 as defined by RSA 77-A:1, VI, during the taxable period, shall on or before the fifteenth day of the third month in the case of organizations required to file a United States partnership tax return, […]

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 […]

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 […]