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New Hampshire: Proposed BPT Rules Reflect Law Changes, Including Single Sales Factor Apportionment
Notice Form 2022-85 (UPDATED); 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. (5/26/22). 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 has been rescheduled for June 9, 2022, and any written comments are now due on June 16, 2022. Please contact us with any questions.
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