“Net profit from all business activity”, pursuant to RSA 77-A:1, III(b) and Rev 302.01(c), means the difference between the total income and total deductions on federal Form 1120-S after making the modifications required by Rev 302.01(c)(1) and (2).

Source. #4192, eff 12-23-86; amd by #4438, eff 6-22-88; ss by #5490, eff 10-19-92; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06; ss by #10758, eff 1-16-15 (from Rev 301.21); renumbered by #12361 (from Rev 301.22) renumbered by #13177 (formerly Rev 301.21); ss by #14231, eff 4-3-25, EXPIRES 4-3-35