NH-1040: Proprietorship or Jointly Owned Property Business Profits Tax Return (2025)
New Hampshire · New Hampshire DRA · Used for tax years 2025
Form NH-1040 is New Hampshire’s 2025 Proprietorship Business Profits Tax Return. It reports business profits, state adjustments, deductions and credits to calculate the New Hampshire Business Profits Tax.
Who files this form
NH-1040 is New Hampshire’s Proprietorship Business Profits Tax Return for tax year 2025. The form states that each business organization must file a separate return.
The provided text does not state a filing threshold.
What you'll need
The return must include complete, legible copies of the appropriate federal forms and schedules. Depending on your business income, the form refers to:
- Federal Schedules C, E, F, D and B.
- Federal Forms 4835, 4797 and 6252.
- Federal Form 1040, Schedule 1.
Additional attachments depend on the entries you make:
- Schedules for other net business income on Line 1(h) and separate entity income or expenses on Line 4.
- Schedule IV for adjustments on Lines 2(c) and 2(e).
- A schedule of taxes by state for Line 6(c), and a research contribution computation for Line 6(f).
- A schedule with transaction details when reporting multiple transactions on Line 6(g).
- Form DP-80 if New Hampshire apportionment is other than 100%.
- Form DP-132 for a New Hampshire net operating loss deduction.
- The BET Credit Worksheet for a BET-only credit, or Form DP-160 for other credits including BET.
Common mistakes
- Not rounding amounts: The form says to round to the nearest whole dollar.
- Combining business organizations on one return: Each business organization must file a separate return.
- Leaving out federal attachments: Complete, legible copies of the appropriate federal forms and schedules must accompany the return.
- Entering negative amounts where zero is required: Enter zero if the calculation for Line 9 or Line 11 is negative. Line 14 also cannot be less than zero.
Questions people ask
What tax rate does the 2025 form use?
Line 12 calculates tax by multiplying New Hampshire taxable business profits on Line 11 by 7.5%.
What if my New Hampshire apportionment is not 100%?
Complete Form DP-80, BPT Apportionment Schedule. Enter the percentage from DP-80, Line 1(c), on NH-1040, Line 8.
What attachment is required for a net operating loss deduction?
Attach Form DP-132. Line 10 includes entries for the deduction available, the amount used this tax period and the amount to carry forward.
Which attachment do I use for credits?
For a BET-only credit on Line 13(a), attach the BET Credit Worksheet. For other credits including BET on Line 13(b), attach Form DP-160.
Where do I report the final tax amount from NH-1040?
Report the amount from Line 14, New Hampshire Business Profits Tax Net of Statutory Credits, on BT-Summary, Line 1(b).