N.H. Admin. Code § Rev 307.01

Current through Register No. 50, December 12, 2024

Section Rev 307.01 - Uniform Filing Information

(a) Returns, extensions and declarations shall be considered timely filed pursuant to Rev 2904.03.

(b) Returns filed after the prescribed filing date defined in RSA 77-A:1, VII, shall be subject to interest prescribed in RSA 21-J:28 and penalties prescribed in RSA 21-J:31 and 21-J:33.

(c) Business organizations failing to receive tax forms from the department shall not be relieved of their obligation to prepare and file a timely return, declaration, or extension request.

(d) A business organization or member of a combined group failing to attach or submit state or federal schedules or forms with their business profits tax return as required by Rev 307 shall be:

(1) Deemed to have failed to file a return as required under RSA 77-A:6;

(2) Subject to any penalties provided by law; and

(3) Denied any refund or credit carryover request related to the incomplete return.

(e) All returns, declarations or other documents containing monetary values filed with the department may be prepared by rounding off to the nearest whole dollar.

(f) A business organization, other than a single member entity, electing under the U.S. Department of the Treasury's Treasury Decision 8697 to be taxed as a corporation or partnership for federal income tax purposes shall:

(1) Comply with all of the federal income tax regulations relating to such election;

(2) Complete and file its New Hampshire business profits tax and business enterprise tax returns based on the entity type selected for federal income tax purposes; and

(3) Attach:

a.A copy of federal Form 8832 if required to be filed with the U.S. Internal Revenue Service; or

b.A statement to the New Hampshire return indicating the business organization has accepted the federal default treatment of being taxed as a partnership.

(g) A single member entity, such as a single member limited liability company, electing for federal income tax purposes the provisions under the U.S. Department of the Treasury's Treasury Decision 8697 shall:

(1) Not include the income or expenses of the entity within the member's business profits tax return as provided under RSA 77-A:1, I; and

(2) Complete and file its business tax returns using:

a.Form NH 1120, Corporate "Business Profits Tax Return", if the member is a corporation;

b.Form NH 1040, Proprietorship "Business Profits Tax Return", if the member is an individual;

c.Form NH 1065, Partnership "Business Profits Tax Return", if the member is a partnership;

d.Form NH 1041, Fiduciary "Business Profits Tax Return", if the member is a trust; or

e.Form NH 1120-WE, Combined "Business Profits Tax Return", if the member is part of a combined group.

(h) When a single member limited liability company commences business activities in New Hampshire, and the business organization does not have a taxpayer employer identification number, the single member limited liability company shall request an identification number at least 30 days prior to filing any tax documents with the department, using Form DP-200, "Request For Department Identification Number (DIN)," for use in filing all its tax documents with the department.

N.H. Admin. Code § Rev 307.01

#4192, eff 12-23-86; ss by #5490, eff 10-19-92; amd by #6675, eff 1-27-98; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06

Amended byVolume XXXV Number 06, Filed February 12, 2015 , Proposed by #10758, Effective 1/16/2015, Expires1/16/2025.