New Hampshire Fiduciary Business Profits Tax Return

Fiduciary Business Profits Tax Return
NH-1041
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New Hampshire
Department of
Revenue Administration

2023
NH-1041

*0010412311862*
0010412311862

BUSINESS PROFITS TAX RETURN
Business Organization Name

MMDDYYYY

Taxpayer Identification Number

MMDDYYYY

For the CALENDAR year 2023 or
other taxable period beginning:

1

GROSS BUSINESS PROFITS

Round to the nearest whole dollar

1(a) Interest income reported on Federal Form 1041, Line 1

1(a)

1(b) Total Dividends reported on Federal Form 1041, Line 2(a)

1(b)

1(c) Business income or (loss) reported on Federal Form 1041, Line 3

1(c)

1(d) Net Capital gain only reported on Federal Form 1041, Line 4

1(d)

1(e) Rents, and royalties reported on Federal Form 1041, Line 5

1(e)

1(f) Farm Income or (loss) reported on Federal Form 1041, Line 6

1(f)

1(g) Ordinary gain or (loss) reported on Federal Form 1041, Line 7

1(g)

1(h) Other income reported on Federal Form 1041, Line 8

1(h)

1(i) Other business expenses not reported above (attach schedule)

1(i)

1(j) Business profits from business activity of an association or trust (Combine Lines 1(a) through 1(h)
and from the result subtract Line 1(i))

2

and ending:

1(j)

INCREASE or DECREASE TO GROSS BUSINESS PROFITS TO RECONCILE WITH IRC
2(a) Add amount of IRC §179 expense taken on federal return in excess of the amount permitted pursuant
to RSA 77-A:3-b, IV, including carryover amounts deducted in this taxable period

2(a)

2(b) Add the amount of bonus depreciation taken on the federal return for assets placed in service this period
pursuant to RSA 77-A:3-b, I

2(b)

2(c) Add any other deductions or exclusions taken on the federal return that need to be eliminated or
adjusted pursuant to RSA 77-A:1, XX and 77-A:3-b, III. Complete and attach Schedule IV

2(c)

2(d) Deduct regular depreciation related to IRC §179 and bonus depreciation not allowed for this taxable
period or for prior taxable periods

2(d)

2(e) Deduct any other items included on the federal return that need to be eliminated or adjusted pursuant to
RSA 77-A:1, XX or RSA 77-A:4, XIX. Complete and attach Schedule IV

2(e)

2(f ) Increase or Decrease the net gain or loss on the sale of assets used in the business that have a different
state basis from the tax basis reported on the federal return

2(f )

2(g) Net Lines 2(a) through 2(f )

2(g)

3

Subtotal Line 1(j) adjusted by Line 2(g)

4

Separate entity items of income or expense (attach schedule)

4

5

Gross Business Profits (combine Line 3 and Line 4)

5

NH-1041 2023
Version 1 08/2023

3

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New Hampshire
Department of
Revenue Administration

2023
NH-1041

*0010412321862*
0010412321862

BUSINESS PROFITS TAX RETURN
Business Organization Name

MMDDYYYY

Taxpayer Identification Number

MMDDYYYY

For the CALENDAR year 2023 or
other taxable period beginning:

and ending:

NH-1041 continued
6

ADDITIONS AND DEDUCTIONS (RSA 77-A:4)

Round to the nearest whole dollar

6(a) Deduct interest and dividends subject to tax under RSA 77 (RSA 77-A:4, I) (no longer applies to trusts)

6(a)

6(b) Deduct interest on direct US Obligations (RSA 77-A:4, II)

6(b)

6(c) Add income taxes or franchise taxes measured by income (attach schedule of taxes by state)
(RSA 77-A:4, VII)

6(c)

6(d) Deduct wage adjustment required by IRC §280C (RSA 77-A:4, IX)

6(d)

6(e) Add expenses related to federal constitutionally exempt income (RSA 77-A:4, X)

6(e)

6(f) Deduct research contribution (attach computation) (RSA 77-A:4, XII)

6(f)

6(g) Adjustments to gross business profits required due to the increase in the basis of assets resulting from the sale or
exchange of an interest in the business organization (RSA 77-A:4, XIV)
Add the amount of the increase in the basis of assets federally, due to
the sale or exchange of an interest in the business organization

6(g) - A
Yes

Check yes if an election is being made to recognize the basis increase for any sale or exchange reported above

6(h)
6(i)

If not making an election, deduct the basis increase associated with the
sale or exchange(s). If making an election, enter zero. If reporting multiple
transactions, please attach a schedule reporting the details for each
transaction.

6(g) - B

Add the amount of depreciation/amortization on the federal return attributable to an
increase in the basis of assets not recognized for NH purposes

6(g) - C

Upon the sale of assets, adjust the net gain or loss attributable to an
increase in the basis of assets that was not recognized for NH purposes

6(g) - D

Net Lines 6(g) - A through 6(g) - D

6(g)

Add Qualified Investment Company (QIC) holders' proportional share of QIC profits (RSA 77-A:4, XV)

6(h)

Deduct assistance payments under 12 USC § 1823 (RSA 77-A:4, XVI)

6(j) Net Lines 6(a) through 6(i)

6(i)
6(j)

7

Adjusted Gross Business Profits (Sum of Lines 5 and 6(j))

8

New Hampshire Apportionment (If other than 100%, complete Form DP-80 BPT Apportionment Schedule.
Enter percentage from Form DP-80, Line 1(c))
Exempt under P.L. 86-272

9

New Hampshire Business Profits before NOL (Line 7 multiplied by Line 8. If negative, enter zero.)

NH-1041 2023
Version 1 08/2023

Multiple Transactions
(schedule attached)

7

8

9

Page 2 of 3

Yes

New Hampshire
Department of
Revenue Administration

2023
NH-1041

*0010412331862*
0010412331862

BUSINESS PROFITS TAX RETURN
Business Organization Name

MMDDYYYY

Taxpayer Identification Number

MMDDYYYY

For the CALENDAR year 2023 or
other taxable period beginning:

and ending:

NH-1041 continued
10

Deduct New Hampshire Net Operating Loss Deduction (NOLD) (attach Form DP-132) (RSA-77-A:4, XIII)
NOLD available

10 - A

Less NOLD used this tax period

10

NOLD to be carried forward

10 - B

11

New Hampshire Taxable Business Profits (Line 9 minus Line 10. If negative, enter zero.)

11

12

Compute tax (Line 11 multiplied by 7.5%)

12

13

(a) BET Credit only - attach BET Credit Worksheet

13(a)

-OR13(b)

(b) Other credits including BET (attach Form DP-160)
14 New Hampshire Business Profits Tax Net of Statutory Credits (Line 12 minus Line 13(a) or 13(b),
as applicable, cannot be less than zero) Report on BT-Summary, Line 1(b)

14

This return must be accompanied by complete and legible copies of the appropriate federal forms and schedules.

NH-1041 2023
Version 1 08/2023

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