Skip to content

New Hampshire Department of Revenue Guidance

New Hampshire Department of Revenue Guidance

January 27, 2021

On the state taxability of COVID-19 financial relief

New Hampshire Department of Revenue Guidance

In case you missed it, the Department of Revenue has issued official guidance on the state taxability of COVID-19 financial relief. Per the guidance, taxpayers who received COVID-19 relief funds that file a BPT return: 

  • If funds were from the State of New Hampshire’s federal CARES Act funds, include as income for BPT purposes.
  • If funds were from a state-level relief loan, do not include as income for BPT purposes, unless the loan is forgiven or discharged.
  • Deductions for operating costs can continue, even if paid for with state-level relief funds. Funds that are not spent on deductible business expenses are subject to taxation. Examples of these types of expenses include distributions made to owners or shareholders, payment of personal expenses of owners, or certain disallowed entertainment and meal expenses. 

For the complete guidance from the New Hampshire Department of Revenue, please click here.

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

July 10, 2025
Historic Legislation Becomes Law and Stops Massive Tax Hike on…
The One Big Beautiful Bill Act is signed into law, permanently extending th…
Read More
July 10, 2025
LISTEN: NFIB LA Director Talks Insurance Reform, Tax Relief, an…
Leah Long legislation making the 20% Small Business Deduction permanent was…
Read More
July 10, 2025
New Hampshire Supreme Court Weighs In on Statewide Property Tax
State Education Funding and Property Tax under have been under scrutiny for…
Read More
July 9, 2025
2025 New Hampshire Legislature – Small Business Recap
Budget Deal Includes Big Wins, Big Changes for Small Business
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility