Income/Franchise:
New Hampshire: Proposed BPT Rules Reflect Law Changes, Including Single Sales Factor Apportionment
Notice Form 2022-85; Proposed Regs. sections 301.06, 302.07, 303.03, 304.06, 304.10, 305.03, 306.06, 307.04, 308.04, and 2405.03, N.H. Dept. of Revenue Admin. (5/19/22). The New Hampshire Department of Revenue Administration issued proposed rules reflecting state tax law changes from 2021 and 2019 [see H.B. 4 / Chapter 346 (2019) for more details on the 2019 law changes], which include revising New Hampshire’s business profits tax (BPT) apportionment formula from a three-factor formula that includes payroll, property, and double-weighted sales to a single-sales factor apportionment formula for taxable periods ending on or after December 31, 2022. A public hearing on the proposed rules is scheduled for June 8, 2022, and any written comments are due on June 15, 2022. 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 (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
