Income/Franchise:
New Hampshire BPT Rules Reflect Law Changes, Including Single Sales Factor Apportionment
Adopted 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. (9/23/22). The New Hampshire Department of Revenue Administration adopted 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 consisting of payroll, property, and double-weighted sales to a single-sales factor apportionment formula for taxable periods ending on or after December 31, 2022. Please contact us with any questions.
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