NH-1041: Fiduciary Business Tax Return (2025)
New Hampshire · New Hampshire DRA · Used for tax years 2025
Form NH-1041 is New Hampshire’s 2025 Fiduciary Business Profits Tax Return. It reports business income and expenses, state adjustments, apportionment, net operating loss deductions, and credits to calculate New Hampshire Business Profits Tax.
What you'll need
The return must include complete, legible copies of the appropriate federal forms and schedules. NH-1041 uses income amounts from Federal Form 1041, Lines 1 through 8.
Depending on the entries you report, also include:
- A schedule of other business expenses for Line 1(i).
- Schedule IV for adjustments on Lines 2(c) and 2(e).
- A schedule of separate entity income or expense items for Line 4.
- A schedule of income or franchise taxes by state for Line 6(b).
- A computation of the research contribution deduction for Line 6(e).
- A schedule detailing each transaction if reporting multiple transactions on Line 6(f).
- Form DP-80, BPT Apportionment Schedule, if New Hampshire apportionment is other than 100%.
- Form DP-132 for the New Hampshire net operating loss deduction.
- The BET Credit Worksheet if claiming only the BET credit, or Form DP-160 if claiming other credits, including BET.
Common mistakes
- Do not leave amounts unrounded. The form says to round to the nearest whole dollar.
- Do not omit required federal attachments. Copies must be complete and legible.
- Do not enter a capital loss on Line 1(d). That line calls for net capital gain only.
- Do not enter negative amounts on Lines 9 or 11. Enter zero if the calculation is negative. Line 14 also cannot be less than zero.
- Do not skip Form DP-80 if New Hampshire apportionment is other than 100%.
- Remember to report the tax from Line 14 on BT-Summary, Line 1(b).
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%.
Which federal return does NH-1041 use?
Lines 1(a) through 1(h) use income amounts from Federal Form 1041, Lines 1 through 8. Line 1(d) includes net capital gain only.
What if New Hampshire apportionment is not 100%?
Complete Form DP-80, BPT Apportionment Schedule. Enter the percentage from DP-80, Line 1(c), on NH-1041, Line 8.
What attachment supports a net operating loss deduction?
Attach Form DP-132 for the New Hampshire net operating loss deduction on Line 10. The form also asks for the deduction available and the amount to be carried forward.
Where do I report the final tax amount?
Report NH-1041, Line 14, on BT-Summary, Line 1(b). Line 14 is the Business Profits Tax after statutory credits and cannot be less than zero.