You would.
You would pay the BET and deduct it from the BPT.
The NH DRA has a 2022 BET Credit Worksheet.
It deducts from the BPT owed the amount paid in BET.
The math in essence means that you would pay just the full amount of BPT.
If your BET was $100,000 and your BPT was $110,000.
You would pay BET of $100,000 and BPT of $10,000 totaling the $110,000
The higher sum.
If you paid both (no credits) the total would be $210,000
If your BET is $110,000 and your BPT is $100,000 then you pay $110,000 (Full Credit for the BPT); and carry over your BET credit for future years (up to eight in total). You still would not pay $210,000 - just the $110,000 of the higher BET.
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