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Instructions for Form NH-1120
for the current year.
This document contains official instructions for Form NH-1120 , Business Profits Tax Return - a form released and collected by the New Hampshire Department of Revenue Administration. An up-to-date fillable Form NH-1120 is available for download through this link.
Q: What is Form NH-1120?
A: Form NH-1120 is the Business Profits Tax Return used in New Hampshire.
Q: Who needs to file Form NH-1120?
A: Businesses operating in New Hampshire that have a taxable business income need to file Form NH-1120.
Q: What is the purpose of Form NH-1120?
A: Form NH-1120 is used to report and calculate the Business Profits Tax due to the state of New Hampshire.
Q: When is Form NH-1120 due?
A: Form NH-1120 is due on the 15th day of the fourth month following the close of the tax year, which is usually April 15th for calendar year taxpayers.
Q: Is there an extension available for filing Form NH-1120?
A: Yes, businesses can request a six-month extension to file Form NH-1120, but the tax payment is still due by the original due date.
Q: Are there any penalties for late filing of Form NH-1120?
A: Yes, there are penalties for late filing of Form NH-1120, including a 10% late filing penalty and interest on the unpaid tax amount.
Q: What documents and information do I need to complete Form NH-1120?
A: You will need your federal tax return, financial statements, and information about your business income, deductions, and credits to complete Form NH-1120.
Q: Can I claim deductions and credits on Form NH-1120?
A: Yes, businesses can claim deductions and credits on Form NH-1120 to reduce their taxable income and the amount of Business Profits Tax owed.
Instruction Details:
Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the New Hampshire Department of Revenue Administration.