Individual Income Tax
Form New Hampshire Individual Tax Return
Corporate Income Tax
Form New Hampshire Business Tax Return
Form New Hampshire Business Profit Tax Return
New Hampshire Income Tax Forms: An Overview
New Hampshire Income Tax forms are a necessary part of filing taxes in the state of New Hampshire. The state of New Hampshire is one of only nine states in the United States without a broad-based personal income tax. This means that individuals who earn income in the state are not subject to state income taxes on that income. However, the state of New Hampshire does tax interest and dividends income over a certain amount. In this article, we will take a closer look at the various New Hampshire Income Tax forms available, how to fill them out, and what to expect when filing New Hampshire Income taxes.
Introduction to New Hampshire Income Tax Forms
New Hampshire Income Tax forms are issued by the New Hampshire Department of Revenue Administration (DRA). These forms are used for the purpose of paying state taxes on interest and dividend income. New Hampshire residents are required to complete their New Hampshire Income Tax forms annually to file their individual income taxes. Non-New Hampshire residents who earn interest and dividend income from New Hampshire sources and are not residents of the state are also required to pay New Hampshire taxes and file income tax returns. The standard New Hampshire Interest and Dividends Tax Return is the form used to report and pay interest and dividend taxes in the state.
Latest Updates on New Hampshire Income Tax Forms
The current New Hampshire Interest and Dividends Tax Rates are 5 percent on taxable interest at or above $2,400 ($1,200 if single or married filing separately) and taxable dividends at or above $2,400 ($1,200 if single or married filing separately). In 2019, Governor Chris Sununu signed a bill into law that increased the exemption threshold for the New Hampshire Interest and Dividends Tax. The exemption threshold was raised from $2,400 to $2,600 (or $1,300 if single).
The New Hampshire Department of Revenue Administration updated the Interest and Dividends Tax Return form in 2020. The updated form now includes a section for taxpayers to report any interest or dividends that are exempt from tax. It also requires taxpayers to include their Social Security numbers on their tax returns for the purpose of verifying their identities and ensuring accuracy.
How to Fill Out New Hampshire Income Tax Forms
New Hampshire Income Tax forms can be filled out online or through the mail. To fill out the New Hampshire Interest and Dividends Tax Return online, taxpayers must visit the New Hampshire Taxpayer Access Point (TAP) website. The TAP website is an online service provided by the state of New Hampshire to allow individuals to complete a variety of state tax forms online.
To fill out the form through the mail, taxpayers must first print out a copy of the New Hampshire Interest and Dividends Tax Return from the DRA website. The form is available on the DRA website as a downloadable PDF. The form can be mailed to the Department of Revenue Administration. The mailing address is provided on the tax form.
To complete the tax form, taxpayers must first enter their personal information, including their name, Social Security number, and mailing address. They must also indicate their filing status (single, married filing jointly, married filing separately, or head of household). Taxpayers should then enter their total taxable interest and dividends, income from interest and dividends exempt from tax, and income below the reporting threshold.
In addition to completing the New Hampshire Interest and Dividends Tax Return, taxpayers must also file a federal tax return with the Internal Revenue Service (IRS). Federal tax returns must be filed by April 15th of each year.
Frequently Asked Questions about New Hampshire Income Tax Forms
Q: What is the deadline for filing New Hampshire Income Tax Forms?
A: New Hampshire Income Tax forms must be filed by April 15th of each year.
Q: What is the threshold for New Hampshire Interest and Dividends Tax?
A: New Hampshire Interest and Dividends Tax applies to interest and dividend income above $2,400 ($1,200 if single or married filing separately).
Q: Do New Hampshire residents have to file state income tax returns?
A: No, New Hampshire residents are not required to file state income tax returns, as the state does not have a broad-based personal income tax.
Q: Do out-of-state residents have to pay New Hampshire taxes on their interest and dividends?
A: Yes, out-of-state residents who earn interest and dividend income from New Hampshire sources and are not residents of the state are required to pay New Hampshire taxes and file income tax returns.
Conclusion
New Hampshire Income Tax forms are an important part of filing taxes for New Hampshire residents and non-residents who earn interest and dividend income from New Hampshire sources. Individuals are required to file their tax returns by the April 15th deadline each year. The New Hampshire Interest and Dividends Tax applies to interest and dividend income above $2,400 ($1,200 if single or married filing separately), and the tax rate is 5 percent. Taxpayers can fill out their New Hampshire Income Tax forms through the mail or online through the New Hampshire Taxpayer Access Point (TAP) website provided by the state of New Hampshire.
While New Hampshire may not have a broad-based personal income tax, it is still important to be aware of and comply with the state’s tax laws. By staying up-to-date on tax forms, rates, and deadlines, taxpayers can ensure they are accurately reporting their income and avoiding any penalties or fines.
