State of New Hampshire - Tax Facts (ver. 2)

Registration of Business Name

• If doing business under own name, registration is not required, but it is desireable.
• If trading under any ficticious name, even your own, registration of this trade name may be accomplished by contacting:
  • Office of Secretary of State
    State of New Hampshire
    25 Capital St, 3rd Floor
    Concord, NH 03301
    (603) 271-3244 (603) 271-3246
    Click on "Forms & Laws" then "Tradenames"
    You receive a 5-year registration with a $50 fee. 
• New Hampshire Business Tax
  • New Hampshire defines Gross Income as the total of all income for Federal income tax purposes from whatever source derived. 
  • NH Business Profits Tax (BPT)  7.5%
    • For TY2023 anyone in business, whose gross revenue exceeds $103,000 must file Form NH-1040. 
    • BPT tax rate is 7.5%
    • Form NH-1040 for sole proprietorships and single-member limited liability companies (SMLLCs) that are taxed as proprietorships federally.
    • Form NH-1065 for partnerships.
    • Form NH-1120 for corporations.
  • NH Business Enterprise Tax (BET)  0.55%
    • For TY2023, anyone in business, whose gross revenue exceeds $281,000 or whose BET Tax Base exceeds $281,000 must file Form NH-BET
    • BET Value Tax Base is the sum of all: 
    • compensation paid or accrued, interest paid or accrued, and dividends paid by the business enterprise,  
    • BET tax rate is 0.55%
    • Form NH-BET for all Corporations, Partnerships, Proprietorships,  Estates, Trusts, Non-Profits, LLCs, and Combined Groups.   
  • BT-Summary 
    • If you are required to file the BPT tax form and/or BET tax form, you must file the BT-Summary form. 
    • The BT-Summary form summarizes all of the taxes you owe to the New Hampshire Department of Revenue Administration (DRA). 
  • NH Interest & Dividends tax (I&D tax)  5.0%
    • NH I&D tax is assessed on Interest & Dividend income and is levied on all New Hampshire residents and fiduciaries whose gross interest and dividends income, from all sources, exceeds $2,400 annually ($4,800 for joint filers). 
    • In addition, Limited Liability Companies (LLC's), Partnerships, and Associations, with non-transferable shares, whose gross interest and dividends income, from all sources, exceeds $2,400 annually must file and pay NH I&D Tax.
    • I&D tax rate is 5.0%
    • Form DP-10 for all entities.
  • File your NH tax return(s) online GRANITE TAX CONNECT 
    • New Hampshire Department of Revenue Administration
      Governor Hugh Gallen State Office Park
      109 Pleasant Street (Medical & Surgical Building)
      Concord, NH 03301  
    • Taxpayer Services Division tel: (603) 230-5000      
  • Here is a table of the BPT, BET, & I&D tax rates in NH from 2016 to 2026:
  •    Year  BPT Rate  BET Rate  I&D Rate
  • 2016  7.7%       0.6%        5% 
  • 2017  7.7%       0.6%        5% 
  • 2018  7.7%       0.6%        5%
  • 2019  7.7%       0.6%        5%
  • 2020  7.6%       0.55%      5%
  • 2021  7.6%       0.55%      5%
  • 2022  7.6%       0.55%      5%
  • 2023  7.6%       0.55%      4%
  • 2024  7.6%       0.55%      3% 
  • 2025  7.6%       0.55%      2%
  • 2026  7.6%       0.55%      1%
  • NH I&D Tax is repealed for taxable periods beginning after 12/31/2026
  • Here is a table of the BPT & BET filing thresholds in NH from 2016 to 2026:
•                       BPT          BET           BET
•                  Threshold  Threshold  Threshold  
•  Tax      Gross       Gross          Value
• Year    Income     Income         Base
• 2016     50K          207K             103K 
• 2017     50K          208K             104K 
• 2018     50K          208K             104K
• 2019     50K          217K             108K
• 2020     50K          217K             108K
• 2021     50K          222K             111K
• 2022     92K          250K             250K
• 2023   103K          281K             281K
• 2024   103K          281K             281K 
• 2025         *             *                     *
• 2026         *             *                     *                                                                            
• Licenses
  • State and municipal ordinances require licenses of various kinds for a number of businesses. A restaurant, for instance, may require clearance from the local Fire Dept., Sanitation Dept., Health Dept., Board of Alcoholic Beverage Control, etc. 
  • State licenses are required for business activities such as:
    • outdoor advertising 
    • liquor handling 
    • real estate brokering 
    • electrical contracting 
    • automobile dealerships 
    • junk yards 
    • lumber sales
    • other
  • It is recommended that prospective businesspeople make thorough inquiries to the appropriate municipal and state authorities.
• Choosing Your Form of Business Organization
  • There are different advantages and disadvantages to the four (4) major forms of business organization:
    1. Sole Proprietorship,
    2. Partnership,
    3. Corporation, 
    4. Limited Liability Company (LLC). 

• You would be wise to consult an attorney for legal advice. For the name of an attorney call: 
  • NH Bar Association
    • 2 Pillsbury Street, Suite 300 Concord, NH 03301  
    • tel: 603-224-6942  fax: 603-224-2910 
• Complaints
  • Consumer complaints may be filed with:
    • NH Consumer Protection & AntiTrust Bureau
      33 Capitol St
      Concord, NH 03301-6397
      (603) 271-3641
• Federal Trade Commission (FTC)
  • The FTC is a federal agency which deals with consumer protection matters on a national level or when interstate commerce is involved.
    • Federal Trade Commission
      600 Pennsylvania Ave, NW, Washington, DC 20580-0002
      1-877-FTC-HELP or 1-877-382-4357 (toll-free)
      TDD: 1-202-326-2502