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New Hampshire Free Printable DP-132-WE for 2024 New Hampshire Combined Group Net Operating Loss (NOL) Deduction

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Combined Group Net Operating Loss (NOL) Deduction
DP-132-WE

Print Form New Hampshire Department of Revenue Administration 2023 DP-132-WE Reset Form *0132WE2311862* 0132WE2311862 NET OPERATING LOSS (NOL) DEDUCTION FOR COMBINED GROUPS Principal New Hampshire Business Organization Name Taxpayer Identification Number MMDDYYYY For the CALENDAR year 2023 or other taxable period beginning: and ending: Federal Employer ID Number, Social Security Number or Department ID Number Nexus Member Name Column A Ending date of tax year in which NOL occurred MMDDYYYY Column B NOL amount available for carryforward. See instructions for limitations from DP-131-A Column C Amount of NOL carry forward which has been used in taxable periods prior to this taxable period Column D Amount of NOL to be used as a deduction in this taxable period (See Instructions) Column E Amount of NOL to carry forward to future taxable periods 1 2 3 4 5 6 7 8 9 10 11 Line 11 - Total Columns B, C, D, & E (Sum Lines 1 - 10 in each respective column). The amount of NOL carryforward deducted this taxable period is Column D, Line 11. If you have more than one Form DP-132-WE total all Line 11 D amounts to calculate your NOL carryforward deduction (see instructions). This is the amount to be reported on the applicable Business Profits Tax return. Use additional Forms DP-132-WE if you have NOL carryforward deduction(s) for more than one entity. NOTE: Column B less Column C should equal the sum of Column D plus Column E. DP-132-WE 2023 Version 1 08/2023 Page 1 of 2 New Hampshire Department of Revenue Administration 2023 DP-132-WE NET OPERATING LOSS (NOL) DEDUCTION FOR COMBINED GROUPS - Instructions WHEN TO USE FORM DP-132-WE Use this form to detail the NOL carry forward amounts that comprise the current taxable period NOL deduction taken on NH-1120-WE. See Rev 307.07, d and e. If there are two or more New Hampshire nexus members of the combined group, attach additional Forms DP-132-WE. Chapter 241, Laws of 2022 (Senate Bill 435) amended RSA 77-A:4, XIII by removing the requirement to use the §172 of the U.S. Internal Revenue Code in effect on December 31, 1996 in the calculation of net operating loss carryover. This act takes effect on July 1, 2022 and shall apply to business organizations' tax years ending on or after December 31, 2022. Affected business organizations shall use the §172 of the U.S. Internal Revenue Code in effect as defined in RSA77-A:1, XX. NAME AND TAXPAYER IDENTIFICATION NUMBER Enter the Business Organization's name and Taxpayer Identification Number [Social Security Number (SSN), Federal Employer Identification Number (FEIN), or Department Identification Number (DIN)] in the spaces provided. For the purpose of administering any state tax as allowed under 42 U.S.C. Section 405, the Commissioner of the Department of Revenue Administration is authorized to require the submission of an SSN, FEIN, or any other identifying number used in filing or preparing federal tax returns by individuals, businesses, or return preparers. (See RSA 21-J:27-a; N.H. Code of Admin. Rules, Rev 2903.02(c); and 42 U.S.C. Section 405(c)(2)(C)(i)). Where SSNs or FEINs are required, taxpayers who have been issued a DIN shall use their DIN only, and not their SSN or FEIN. Enter the beginning and ending dates of the taxable period if different from the calendar year. Column (A) Enter the month, day, and year (MMDDYYYY) of each taxable period from which the NOL is being carried forward. Column (B) Enter the amount of the NOL that is available for carry forward purposes. Combined groups DP-132-WE: If there is more than one New Hampshire nexus member in the combined group, then the carryforward loss must be allocated in accordance with the N.H. Code of Admin. Rules, Rev. 303.03 for that tax period. The apportioned loss cannot exceed the following limits based on the tax period in which the loss was incurred. For taxable periods ending: From July 1, 2005 to December 31, 2012 the maximum amount that may be carried forward is $1,000,000. For taxable periods ending on or after January 1, 2013, the maximum amount that may be carried forward is $10,000,000. Column (C) Enter the NOL amount that was claimed as a deduction in the prior taxable period(s). Column (D) Enter only those amounts that will be claimed as a deduction this taxable period. Do not deduct losses incurred in the current taxable period. NOTE: For tax periods ending on or after December 31, 2022, the deduction claimed in this column is limited to the lesser of the NOL available or 80% of current year taxable income. NOL Carryforwards from tax periods ending prior to December 31, 2018 are not subject to the 80% limitation. For example: If you have NOL available from prior years totaling $100,000 and your current year taxable income is $100,000, the NOL available to apply is as follows: Current year Taxable Income: $100,000 x 80% = $80,000 Total NOL available to apply from prior periods = $100,000 As the lesser of the two is $80,000, you are limited to apply $80,000 of available NOL in the current year, leaving you with $20,000 available to carryforward to future tax years. Column (E) Enter the excess amount(s) available for future deduction. N.H. Code of Admin. Rules, Rev 303.03 of the New Hampshire Business Profits Tax includes guidance on how to compute the NOL. The RSAs and administrative rules regarding NOL provisions (RSA 77-A:4, XIII and Rev 303.03) may be obtained from our website at www.revenue.nh.gov or by visiting any New Hampshire Depository Library or the New Hampshire State Library, 20 Park Street, Concord, NH 03301, where copies may be made for a fee. DP-132-WE 2023 Version 1 08/2023 Page 2 of 2
Extracted from PDF file 2023-new-hampshire-form-dp-132-we.pdf, last modified May 2023

More about the New Hampshire Form DP-132-WE Corporate Income Tax TY 2023

We last updated the Combined Group Net Operating Loss (NOL) Deduction in February 2024, so this is the latest version of Form DP-132-WE, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form DP-132-WE directly from TaxFormFinder. You can print other New Hampshire tax forms here.


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Related New Hampshire Corporate Income Tax Forms:

TaxFormFinder has an additional 51 New Hampshire income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New Hampshire Form DP-132-WE.

Form Code Form Name
Form DP-132 Net Operating Loss (NOL) Deduction Worksheet

Download all NH tax forms View all 52 New Hampshire Income Tax Forms


Form Sources:

New Hampshire usually releases forms for the current tax year between January and April. We last updated New Hampshire Form DP-132-WE from the Department of Revenue Administration in February 2024.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of New Hampshire Form DP-132-WE

We have a total of nine past-year versions of Form DP-132-WE in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2022 Form DP-132-WE

dp-132-we-2022.pdf

2021 Form DP-132-WE

dp-132-we-2021.pdf

2020 Form DP-132-WE

dp-132-we-2020.pdf

2019 Form DP-132-WE

dp-132-we-2019.pdf

2016 Form DP-132-WE

dp-132we2015v1-1.pdf


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