Do I need to file a DP-10?
Residents and part-year residents must file DP-10 if gross interest and dividends from all sources (DP-10 line 3 or Form 1040 lines 2a + 2b + 3b + taxed 1099-R distributions) exceed $2,400/4,800. Clients not required to file a federal return may still need to file DP-10. NH has a rarely-used education tax credit.
What is DP-10?
New Hampshire uses Form DP-10 for full or part-year residents. The DP-10 only has to be filed if the taxpayer received more than $2400 (single) or $4800 (joint) of interest and/or dividends.
Is US savings bond interest taxable in NH?
Are all State of New Hampshire bonds tax-exempt? No, the New Hampshire Treasury also issues a very small amount of taxable debt on a very infrequent basis.
Do I have to file NH state tax return?
New Hampshire does not tax individuals’ earned income, so you are not required to file an individual New Hampshire tax return. If you have investment income from interest and dividends, described in detail in the “NH Income Tax” section, you may have to file a New Hampshire tax return for that income.
Who must file a DP 10?
INDIVIDUALS: Individuals who are residents or inhabitants of New Hampshire for any part of the tax year must file if they received more than $2,400 of gross interest and/or dividend income for a single individual or $4,800 of such income for a married couple filing a joint New Hampshire return.
What tax does New Hampshire not have?
New Hampshire has no income tax on wages and salaries. However, there is a 5% tax on interest and dividends. The state also has no sales tax. Homeowners in New Hampshire pay some of the highest average effective property tax rates in the country.
Does New Hampshire tax investment income?
New Hampshire has long claimed its name among other income-tax-free states. But, because the state levies taxes on interest and dividends, that has not been 100% true historically. However, the Granite State is phasing out interest and dividends tax. By 2027, personal income in New Hampshire will truly be tax-free.
What is not taxed in NH?
Overview of New Hampshire Taxes New Hampshire has no income tax on wages and salaries. However, there is a 5% tax on interest and dividends. The state also has no sales tax. Homeowners in New Hampshire pay some of the highest average effective property tax rates in the country.
Who must file a NH return?
Individuals: Individuals who are residents or inhabitants of New Hampshire for any part of the tax year must file a return if they received more than $2,400 of gross interest and/or dividend income for a single individual or $4,800 of such income for a married couple filing a joint New Hampshire return.
Who Must File NH bet?
Check the Yes or No box to indicate if you are required to file a Business Enterprise Tax (BET) Return. Enterprises with more than $207,000 of gross business receipts from all their activities or an enterprise value tax base of more than $103,000 are required to file a BET Return with this Business Tax Summary Form.
On what form will a New Hampshire resident report interest and dividend income?
Form DP-87
REPORT OF CHANGE (ROC) To report a change to your Interest and Dividends Tax Return (resulting from a federal audit), file a separate report of change, Form DP-87 ID, for each year.