NH-1065: Partnership Business Tax Return (2024)
New Hampshire · New Hampshire DRA · Used for tax years 2024
Form NH-1065 is New Hampshire’s 2024 Business Profits Tax Return for partnerships. It reports income and deductions from federal Form 1065, New Hampshire adjustments, apportionment, and the New Hampshire net operating loss deduction.
What you'll need
The return must include complete, legible copies of the appropriate federal forms and schedules. You will need Federal Form 1065, Schedule K figures to complete the gross business profits section.
Depending on the entries you make, the form also calls for:
- 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(d).
- A research contribution computation for Line 6(g).
- A schedule detailing each transaction if reporting multiple transactions under Line 6(h).
- 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
- Not rounding amounts. The form says to round to the nearest whole dollar.
- Missing federal attachments or sending unreadable copies. The return must include complete, legible copies of the appropriate federal forms and schedules.
- Entering negative amounts where zero is required. Lines 9 and 11 say to enter zero if the calculation is negative. Line 14 cannot be less than zero.
- Missing transaction details. If reporting multiple transactions under Line 6(h), attach a schedule with details for each transaction.
Questions people ask
What taxable period does this version cover?
The form is for calendar year 2024 or another taxable period with beginning and ending dates entered on the return.
What tax rate does the form use?
Line 12 calculates tax by multiplying New Hampshire taxable business profits on Line 11 by 7.5%.
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-1065, Line 8.
Where do I report the final Business Profits Tax amount?
Report NH-1065, Line 14, on BT-Summary, Line 1(b). Line 14 is the tax after statutory credits and cannot be less than zero.