NH-1120-WE: Combined Group Business Tax Return (2024)
New Hampshire · New Hampshire DRA · Used for tax years 2024
Form NH-1120-WE is New Hampshire’s 2024 Combined Business Profits Tax Return. It reports a business group’s combined income, state adjustments, apportioned taxable business profits, and Business Profits Tax after credits.
What you'll need
The return must include complete, legible copies of the appropriate federal forms and schedules.
Depending on the entries you report, also prepare:
- Separate schedules for each member’s Line 10 adjustments, combined on the return. Attach Schedule IV for adjustments on Lines 10(c) and 10(e).
- A schedule of separate-entity income or expense items for Line 11(b).
- A schedule of taxes by state for Line 12(d).
- A computation for the research contribution deduction on Line 12(h).
- A schedule detailing each transaction if reporting multiple transactions on Line 12(i).
- Form DP-80 for the New Hampshire apportionment amount.
- Form DP-132-WE if claiming a New Hampshire net operating loss deduction.
- The BET Credit Worksheet on the BET Return for a BET-only credit, or Form DP-160 for other credits including BET.
Common mistakes
- Do not leave amounts in cents. The form says to round to the nearest whole dollar.
- On Line 6, report intercompany income as a negative amount and expenses as a positive amount.
- Include all group members in the Line 10 adjustments. Complete a separate schedule for each member and combine the adjustments on the return.
- Make sure the foreign dividends deduction on Line 11(d) matches Schedule II, Line 2 and the total of Column B on Schedule III.
- Do not claim the Line 12(c) compensation deduction for a business organization taxed federally as a corporation or trust.
- Express the Line 14 apportionment amount as a decimal to six places.
- If Line 18 is negative, enter zero. Line 21 also cannot be less than zero.
- Do not omit the required complete, legible federal forms and schedules.
Questions people ask
What tax period does this form cover?
The form is for calendar year 2024 or another taxable period whose beginning and ending dates you enter on the form.
What tax rate is printed on the return?
Line 19 calculates New Hampshire Business Profits Tax by multiplying Line 18 by 7.5%.
Where do I report non-consolidated group members’ income?
Schedule I-A summarizes combined net income for non-consolidated members. Its Line 7 total goes on Page 1, Line 5 of Form NH-1120-WE.
Where does the final tax amount go?
Report Line 21, New Hampshire Business Profits Tax net of statutory credits, on BT-Summary, Line 1(b).