Business Profits Tax Affiliation Schedule - New Hampshire

Business Profits Tax Affiliation Schedule is a legal document that was released by the New Hampshire Department of Revenue Administration - a government authority operating within New Hampshire.

FAQ

Q: What is the Business Profits Tax?
A: The Business Profits Tax (BPT) is a tax imposed on the profits of businesses operating in New Hampshire.

Q: Who is required to file the Business Profits Tax Affiliation Schedule?
A: Businesses that are part of a controlled group of corporations and have income from business activity in New Hampshire are required to file the Business Profits Tax Affiliation Schedule.

Q: What is a controlled group of corporations?
A: A controlled group of corporations refers to a group of corporations that are connected through stock ownership and meet specific ownership requirements defined by the Internal Revenue Service (IRS).

Q: What information is required on the Business Profits Tax Affiliation Schedule?
A: The Business Profits Tax Affiliation Schedule requires information about the corporations in the controlled group, including their names, addresses, Federal Employer Identification Numbers (EINs), and percentage of stock ownership.

Q: When is the deadline to file the Business Profits Tax Affiliation Schedule?
A: The deadline to file the Business Profits Tax Affiliation Schedule is the same as the deadline to file the Business Profits Tax return, which is the 15th day of the fourth month following the close of the tax year.

Q: Are there any penalties for not filing the Business Profits Tax Affiliation Schedule?
A: Yes, failure to file the Business Profits Tax Affiliation Schedule can result in penalties, including monetary fines and an assessment of additional taxes owed.

Q: Do all businesses in New Hampshire have to pay the Business Profits Tax?
A: No, not all businesses in New Hampshire are subject to the Business Profits Tax. The tax only applies to businesses that meet certain income thresholds set by the state.

Q: Can I request an extension to file the Business Profits Tax Affiliation Schedule?
A: Yes, businesses can request an extension to file the Business Profits Tax Affiliation Schedule, but they must do so before the original deadline and meet certain criteria to be granted an extension.