New Hampshire Combined Business Profits Tax Return

Combined Business Profits Tax Return
2024 NH-1120-WE Form
Print Form

New Hampshire
Department of
Revenue Administration

Reset Form

*1120WE2411862*

2024
NH-1120-WE

1120WE2411862

COMBINED BUSINESS PROFITS TAX RETURN
Principal Business Organization Name

MMDDYYYY

MMDDYYYY

Taxpayer Identification Number
For the CALENDAR year 2024 or
other taxable period beginning:

and ending:

Check the box to indicate how the principal New Hampshire business organization files its federal tax return

1120

1120S

1065

1041

1040

TAXABLE INCOME BEFORE NET OPERATING LOSS DEDUCTION & SPECIAL DEDUCTIONS
1

1

US Consolidated reported on Federal Form 1120, Line 28

2

Less Overseas Business Organizations included in Line 1 above

2

3

Less Non-Unitary Entities included in Line 1 above

3

4

Add Consolidating Eliminations attributable to entities included in Line 2 or Line 3 above

4

5

Add non-consolidated unitary members from Schedule I-A, Line 7

6
7

5

Eliminate Inter-Company (income) expense (Report income as a negative amount and
expenses as a positive amount)
Subtotal (Line 1 minus Lines 2 and 3, plus Lines 4 through Line 6)

6
7

8(a)

Less Income exempt under federal constitutional law

8(a)

8(b)

Add Expenses related to constitutionally exempt income RSA 77-A:4, X

8(b)

9

Subtotal (Line 7 adjusted by Lines 8(a) and 8(b))

ROUND TO THE NEAREST WHOLE DOLLAR

9

10 - INCREASE or DECREASE TO GROSS BUSINESS PROFITS TO RECONCILE TO IRC. Total adjustments must reflect all members
of group. Complete a separate schedule for each member and combine on this page.
10(a) Add amount of IRC §179 expense taken on federal return in excess of the amount permitted
pursuant to RSA 77-A:3-b, IV, including carryover amounts deducted in this taxable period
10(a)
10(b) Add the amount of bonus depreciation taken on the federal return for assets placed in service
this year pursuant to RSA 77-A:3-b, I
10(b)
10(c) Add any other deductions or exclusions taken on the federal return that need to be eliminated or
adjusted pursuant to RSA 77-A:1, XX and 77-A:3-b, III. Complete and attach Schedule IV
10(c)
10(d) Deduct regular depreciation related to IRC §179 and bonus depreciation not allowed for
this taxable period or for prior taxable periods

10(d)

10(e) Deduct any other items included on the federal return that need to be eliminated or adjusted
pursuant to RSA 77-A: 1, XX or RSA 77-A:4, XIX. Complete and attach Schedule IV
10(e)
10(f) Increase or decrease the net gain or loss on the sale of assets used in the business which have
a different State basis from the tax basis reported on the federal return
10(f)
10(g) Net Lines 10(a) through 10(f) (If negative, use minus sign)

NH-1120-WE 2024
Version 1 04/2024

10(g)

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New Hampshire
Department of
Revenue Administration
NH-1120-WE (continued)

2024
NH-1120-WE

*1120WE2421862*
1120WE2421862

COMBINED BUSINESS PROFITS TAX RETURN

Principal Business Organization Name

MMDDYYYY

MMDDYYYY

Taxpayer Identification Number
For the CALENDAR year 2024 or
other taxable period beginning:

and ending:

11 - COMBINED NET INCOME

ROUND TO THE NEAREST WHOLE DOLLAR

11(a) Line 9 adjusted by Line 10(g)

11(a)

11(b) Separate entity items of income or expense not allowed for on this form (attach schedule)

11(b)

11(c) Subtotal (Line 11(a) adjusted by Line 11(b)) (If negative, use minus sign)
(See instructions on Net Operating Loss)

11(c)

11(d) Deduct Foreign Dividends as defined in RSA 77-A:1, XVII and Rev 304.12 (must be the same
amount as Schedule II, Line 2 and the total of Column B on Schedule III)

11(d)

11(e) New Hampshire Combined Net Income (Line 11(c) adjusted by Line 11(d)) (If negative, use
minus sign)

11(e)

12 - ADDITIONS AND DEDUCTIONS (RSA 77-A:4)
12(a) Deduct interest and dividends subject to tax under RSA 77 (RSA 77-A:4, I)

12(a)

12(b) Deduct interest on direct US Obligations (RSA 77-A:4, II)
12(c) Deduct compensation deduction for personal services (RSA 77-A:4, III)
(Does not apply to business organization taxed federally as a corporation or trust)

12(b)

12(c)

12(d) Add income taxes or franchise taxes measured by income (attach schedule of taxes by state )
(RSA 77-A:4, VII)
12(e) Add federal non-recognized IRC §337 Gain (RSA 77-A:4, VIII)

12(d)
12(e)

12(f) Deduct wage adjustment required by IRC §280C (RSA 77-A:4, IX)

12(f)

12(g) Deduct foreign dividend gross-up (IRC §78) (RSA 77-A:4, XI)

12(g)

12(h) Deduct research contribution (attach computation) (RSA 77-A:4, XII)

12(h)

12(i) Adjustments to gross business profits required due to the increase in the basis of assets resulting from
the sale or exchange of an interest in the business organization (RSA 77-A:4, XIV)
Add the amount of the increase in the basis of assets federally, due to the sale or
exchange of interest in the business organization

12(i) - A

Check yes if an election is being made to recognize the basis increase for any sale or exchange reported above.
If not making an election, deduct the basis increase associated with the sale or
exchange(s). If making an election, enter zero. If reporting multiple transactions, please
attach a schedule reporting the details for each transaction.

12(i) - B

Add the amount of depreciation/amortization on the federal return attributable
to an increase in the basis of assets not recognized for NH purposes.

12(i) - C

Upon the sale of assets, adjust the net gain or loss to remove any basis increase recognized for
federal income tax purposes that was not recognized for NH purposes.

12(i) - D

Net Lines 12(i) - A through 12(i) - D

NH-1120-WE 2024
Version 1 04/2024

Yes

Multiple Transactions
(schedule attached)

12(i)

Page 2 of 4

Yes

New Hampshire
Department of
Revenue Administration

2024
NH-1120-WE

*1120WE2431862*
1120WE2431862

COMBINED BUSINESS PROFITS TAX RETURN
Principal Business Organization Name

MMDDYYYY

MMDDYYYY

Taxpayer Identification Number
For the CALENDAR year 2024 or
other taxable period beginning:

and ending:

NH-1120-WE (continued)
ROUND TO THE NEAREST WHOLE DOLLAR

12(j) Add Qualified Investment Company (QIC) holders' proportional share of QIC profits (RSA 77-A:4, XV)

12(j)

12(k) Deduct assistance payments under 12 USC §1823 (RSA 77-A:4, XVI)

12(k)

12(l) For tax years commencing on or after January 1, 2024:

12(l) - A

Deduct current year business interest expense disallowed under IRC §163(j) (RSA 77-A:4, XX).
Add the amount of disallowed business interest expense carryforward deducted federally under
IRC §163(j), and already deducted for NH purposes in prior years under Line 12(l) - A.

12(l) - B

Deduct 1/3 of the total disallowed business interest expense carryforward under IRC §163(j)
as of the tax year ending before January 1, 2024 (RSA 77-A:4, XX).

12(l) - C
12(l)

Net Lines 12(l) - A through 12(l) - C
12(m)

12(m) Net Lines 12(a) through 12(l)

13

Adjusted Gross Business Profits (Line 11(e) adjusted by Line 12(m))

14

New Hampshire Apportionment (Form DP-80, Line 1(c)) (Express as a decimal to 6 places) Exempt under P.L. 86-272

15

New Hampshire Water's Edge Taxable Business Profits before NOL (Line 13 multiplied by Line 14)

15

16

New Hampshire Foreign Dividends Taxable Business Profits (from Schedule II, Line 3)

16

17

Deduct New Hampshire Net Operating Loss Deduction (NOLD) (attach Form DP-132-WE) (RSA 77-A:4, XIII)

13
14

17 - A

NOLD available
17

Less NOLD used this tax period
NOLD to be carried forward

17 - B

18

New Hampshire Taxable Business Profits (Line 15 plus Line 16 minus Line 17) (If negative, enter zero)

18

19

New Hampshire Business Profits Tax (Line 18 multiplied by 7.5%)

19

20

(a) BET Credit only (attach Form BET Credit Worksheet on BET Return)

20(a)

-OR(b) Other credit including BET (attach Form DP-160)

21

New Hampshire Business Profits Tax Net of Statutory Credits (Line 19 minus Line 20(a) or 20(b),
as applicable, cannot be less than zero) Report on BT-Summary, Line 1(b)

NH-1120-WE 2024
Version 1 04/2024

20(b)
21

This return must be accompanied by complete and legible copies of the
appropriate federal forms and schedules.

Page 3 of 4

New Hampshire
Department of
Revenue Administration

*1120WE2441862*

2024
NH-1120-WE

1120WE2441862

SCHEDULE I-A - SUMMARY OF COMBINED NET INCOME, NON-CONSOLIDATED MEMBERS
Principal Business Organization Name

MMDDYYYY

MMDDYYYY

Taxpayer Identification Number
For the CALENDAR year 2024 or
other taxable period beginning:

and ending:

ROUND TO THE NEAREST WHOLE DOLLAR

1

Non-consolidated corporate members as reported on Federal Form 1120, Line 28

1

2

Federal Form 1120S members from Form DP-120, Line 2

2

3

Partnership members from Form DP-120-P, Line 2

3

4

Proprietorship members from Form DP-121, Part One, Line 10

4

5

Single Member Limited Liability Company (SMLLC) members from Form DP-121, Part One, Line 10

5

6

Trust members from Form DP-121, Part Two, Line 10

6

7

Total of Lines 1 through 6; report on Form NH-1120-WE, Page 1, Line 5

NH-1120-WE 2024
Version 1 04/2024

7

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