Department of Revenue offers relief for Business, Interest & Dividends Taxes

CONCORD – In response to conditions caused by the COVID-19 pandemic, the New Hampshire Department of Revenue Administration will grant automatic relief to Business Profits Tax, Business Enterprise Tax, and Interest & Dividends Tax taxpayers in the form of payment relief and expansion of automatic filing extensions and penalty safe harbors. Details of the relief are outlined in a Technical Information Release issued by NHDRA on March 30, which can be viewed at revenue.nh.gov/tirs/documents/2020-001.pdf.

Relief is available for certain BPT, BET and I&D taxpayers who are impacted by the COVID-19 pandemic and unable to pay the amount due on April 15. Those qualifying taxpayers will have until June 15 to remit payment without typical penalties and interest. This extended due date is in addition to the expansion of the qualifications for the automatic extension and the estimate payment safe harbor. Taxpayers who qualify for this specific relief are Business Tax taxpayers who owed $50,000 or less in taxes (total BPT and BET tax liability) for tax year 2018 and I&D taxpayers who owed $10,000 or less in taxes for tax year 2018. These thresholds account for 98 percent of all BPT, BET and I&D taxpayers.