A tax return is a form on which a person or entity reports income, deductions, and exemptions to the federal or state taxing authority (IRS or state tax authority), and on which the person or entity’s income tax liability is calculated.
In New Hampshire, a tax return is a document filed with the state's Department of Revenue Administration (DRA) or the Internal Revenue Service (IRS) for federal taxes, depending on the type of tax being reported. New Hampshire does not have a general state income tax on earned income, but it does tax interest and dividends income at a 5% rate for individuals with more than $2,400 annually ($4,800 for joint filers). Taxpayers must report this income on Form DP-10. Additionally, businesses in New Hampshire are subject to the Business Profits Tax (BPT) and the Business Enterprise Tax (BET), and they must file returns for these taxes using the appropriate forms provided by the DRA. For federal taxes, individuals typically file Form 1040 or a variant thereof to report income and calculate their income tax liability with the IRS. It's important to note that while New Hampshire has no general state income tax on wages, residents must still file federal income tax returns and pay any federal income tax due.