Business Profits Tax in New Hampshire
The tax on business profits in New Hampshire is 7.7%. Businesses with gross receipts under $92,000 do not need to file returns. Since 2022, those filing business enterprise tax returns must file a summary if under $92,000 gross. In addition, there is a gross receipts tax credited against the profits tax. The 2023 filing threshold for this is $281,000 at a 0.55 percent rate. To form a limited liability company in New Hampshire, use the online QuickStart tool. Most businesses in New Hampshire pay taxes on profits over $92,000. The business profits tax is based on income. The business enterprise tax is based on gross receipts.
Business Taxes in New Hampshire
Businesses in New Hampshire are subject to the business profits tax unless they have $92,000 or less of gross receipts from all activities. Health insurance companies have warned about potential changes to the Affordable Care Act. New Hampshire levies two separate taxes on businesses: the business profits tax based on income and the business enterprise tax based on gross receipts.