Income/Franchise:
New Hampshire: Release Summarizes Business Profits Tax and Business Enterprise Tax Rate and Law Changes
Technical Information Release, TIR 2021-004, N.H. Dept. of Rev. Admin. (9/7/21). The New Hampshire Department of Revenue Administration issued a technical information release (TIR) “to provide taxpayers and tax practitioners with a convenient reference guide of relevant statutory changes made during the 2021 Legislative Session by the New Hampshire General Court impacting various taxes” that it administers – including New Hampshire’s business profits tax (BPT) and business enterprise tax (BET). Among other bills, the TIR references enacted budget legislation [see H.B. 2 (2021) for details on this new law], which lowers tax rates under the BPT and BET by decreasing the rates from 7.7% to 7.6% under the BPT, and from 0.6% to 0.55% under the BET, for tax periods ending on or after December 31, 2022. According to the TIR, other provisions in the budget legislation include increasing the filing threshold for the BET, and gradually phasing out New Hampshire’s interest and dividends tax. Please contact us with any questions.
30 Rockefeller Plaza New York, NY 10112-0015 United States
About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
