Density functional theory (DFT) and time-dependent density functional theory (TDDFT) were used to explain discrepancies in UV-vis and MCD spectra of the metal-free tribenzo[b,g,l]-thiopheno[3,4-q]porphyrazine (1), substituted tribenzo[b,g,l]-porphyrazine (2), and 2,3-bis(methylcarboxyl)phthalocyanine (3). On the basis of gas-phase and polarized continuum solvation model (P CM) DFT and TDDFT calculations, it was suggested that both NH tautomers contribute to the spectroscopic signature of 1, whereas the Q-band region of 2 and 3 is dominated by a single NH tautomer. For all tested compounds, it was found that the combination of the BP86 exchange-correlation functional, 6-31G(d) basis set, and TDDFT-PCM approach provides the best accuracy in energies of the Q(x)- and Q(y)-bands of the individual NH tautomers as well as correctly describes their relative energy differences, which are important in understanding of experimental spectroscopy of the target systems.