DP-160: Schedule for Business Enterprise and Business Profits Tax Credits (2024)
New Hampshire · New Hampshire DRA · Used for tax years 2024
Form DP-160 is New Hampshire’s 2024 Schedule of Credits for the Business Enterprise Tax (BET) and Business Profits Tax (BPT). It reports available credits, amounts applied to each tax, and unused credits available to carry forward.
Who files this form
Form DP-160 is the schedule for applying credits to New Hampshire Business Enterprise Tax (BET) and Business Profits Tax (BPT).
Do not complete DP-160 if the BET credit is your only available credit.
Common mistakes
- Do not complete DP-160 if your only available credit is the BET credit.
- Round amounts to the nearest whole dollar.
- Apply Research and Development (R&D) and Economic Revitalization Zone (ERZ) credits against BPT first.
- Use the earliest carryover credits first for ERZ, CDFA New Investment Tax Credit (ITC), and Coos County credits.
- Do not exceed the $40,000 limit on total ERZ credit used this year in Part D, line 5.
- Do not let total credits applied to BPT in Part B, line 9 exceed the current period's BPT liability.
- Limit the CTE Centers credit used for BPT to 25% of BPT before credits.
- The BET credit applies to BPT only if the BET has been paid.
Questions people ask
Do I complete DP-160 if I only have a BET credit?
No. The form says not to complete DP-160 if the BET credit is your only available credit.
Where do I enter the credit totals on my tax returns?
Enter Part A, line 9 on your BET return, line 6. Enter Part B, line 9 on your BPT return at line 20(b) for NH-1120-WE, or line 13(b) for all other forms.
How do I apply the Coos County credit?
Part F applies the credit against BET first, then applies unused credit to BPT. Any unused credit must be carried forward as a priority to other credits.
Can the Education Tax Credit be used for taxes other than BPT?
Yes. Part G includes amounts used for BET and New Hampshire Interest and Dividends Tax, as well as BPT.
How is the Granite State Paid Family and Medical Leave Plan credit calculated?
Part J, line 1 asks for the premium paid for family and medical leave insurance coverage offered to employees. Line 2 calculates the credit used for BET as 50% of line 1. The form refers to instructions for the premium entry, but those instructions were not provided.