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New Hampshire Free Printable NH1040 for 2024 New Hampshire Proprietorship or Jointly Owned Property Business

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Proprietorship or Jointly Owned Property Business
NH1040

Print Form New Hampshire Department of Revenue Administration 2023 NH-1040 Reset Form *0010402311862* 0010402311862 BUSINESS PROFITS TAX RETURN Proprietor's Name / Business Organization Name MMDDYYYY Taxpayer Identification Number MMDDYYYY For the CALENDAR year 2023 or other taxable period beginning: 1 and ending: GROSS BUSINESS PROFITS Each business organization must file a separate return. Round to the nearest whole dollar 1(a) Net profit or loss reported on proprietor Federal Schedule C, Line 31 1(a) 1(b) Net rental profit or loss reported on Federal Schedule E, Line 21 1(b) 1(c) Net farm rental profit or loss reported on Federal Form 4835, Line 32 1(c) 1(d) Net farm profit or loss reported on Federal Schedule F, Line 34 1(d) 1(e) Net gain or loss from the sale of business assets reported on Federal Form 4797, Lines 2(g), 3, 5, 10(g), 14, 16 and 30 1(e) 1(f ) Net gain or loss from sale of investment assets used in business activity reported on Federal Schedule D, Lines 1(h), 2(h), 3(h), 8(h), 9(h) and 10(h) 1(g) Installment sale gains from the sale of business assets recognized during the period on Federal Form 6252, Line 24 1(g) 1(h) Other net business income (attach schedule) attributable to this business organization as adjusted accordingly from Federal Form 1040, Schedule B 1(h) 1(i) Other business income attributable to this business organization as adjusted accordingly from Federal Form 1040, Schedule 1, Line 8 1(i) 1(j) Subtotal Lines 1(a) through 1(i) 2 1(f ) 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) 3 4 Separate entity items of income or expense (attach schedule) 4 5 Gross Business Profits (combine Line 3 and Line 4) 5 NH-1040 2023 Version 1 08/2023 Page 1 of 3 New Hampshire Department of Revenue Administration 2023 NH-1040 *0010402321862* 0010402321862 BUSINESS PROFITS TAX RETURN Proprietor's Name / Business Organization Name MMDDYYYY Taxpayer Identification Number MMDDYYYY For the CALENDAR year 2023 or other taxable period beginning: and ending: NH-1040 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) 6(a) 6(b) Deduct interest on direct US Obligations (RSA 77-A:4, II) 6(b) 6(c) Deduct compensation deduction for personal services (RSA 77-A:4, III) 6(c) 6(d) Add income taxes or franchise taxes measured by income (Attach schedule of taxes by state) (RSA 77-A:4, VII) 6(d) 6(e) Deduct wage adjustment required by IRC §280C (RSA 77-A:4, IX) 6(e) 6(f) Add expenses related to federal constitutionally exempt income (RSA 77-A:4, X) 6(f) 6(g) Deduct research contribution (attach computation) (RSA 77-A:4, XII) 6(g) 6(h) 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 interest in the business organization 6(h) - A Yes Check yes if an election is being made to recognize the basis increase for any sale or exchange reported above 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(h) - 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(h) - 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(h) - D Net Lines 6(h) - A through 6(h) - D 6(h) 6(i) Add Qualified Investment Company (QIC) holders proportional share of QIC profits (RSA 77-A:4, XV) 6(i) 6(j) Net Lines 6(a) through 6(i) 6(j) 7 Adjusted Gross Business Profits (sum of Lines 5, and 6(j)) 7 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) NH-1040 2023 Version 1 08/2023 Multiple Transactions (schedule attached) 8 9 Page 2 of 3 Yes New Hampshire Department of Revenue Administration 2023 NH-1040 *0010402331862* 0010402331862 BUSINESS PROFITS TAX RETURN Proprietor's Name / Business Organization Name MMDDYYYY Taxpayer Identification Number MMDDYYYY For the CALENDAR year 2023 or other taxable period beginning: and ending: NH-1040 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 11 New Hampshire Taxable Business Profits (Line 9 minus Line 10. If negative, enter zero) 12 Compute tax (Line 11 multiplied by 7.5%) 13 (a) BET Credit only - attach BET Credit Worksheet 10 - B 11 12 13(a) -OR(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) 13(b) 14 This return must be accompanied by complete and legible copies of the appropriate federal forms and schedules. NH-1040 2023 Version 1 08/2023 Page 3 of 3
Extracted from PDF file 2023-new-hampshire-form-nh-1040.pdf, last modified August 2023

More about the New Hampshire Form NH-1040 Corporate Income Tax TY 2023

We last updated the Proprietorship or Jointly Owned Property Business in February 2024, so this is the latest version of Form NH-1040, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form NH-1040 directly from TaxFormFinder. You can print other New Hampshire tax forms here.

Related New Hampshire Corporate Income Tax Forms:

TaxFormFinder has an additional 51 New Hampshire income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New Hampshire Form NH-1040.

Form Code Form Name
NH-1040 Instructions Proprietorship or Jointly Owned Property Business
Form NH-1040-ES Proprietorship or Jointly Owned Property Business
Form NH-1040-ES-2015 Proprietorship or Jointly Owned Property Business

Download all NH tax forms View all 52 New Hampshire Income Tax Forms


Form Sources:

New Hampshire usually releases forms for the current tax year between January and April. We last updated New Hampshire Form NH-1040 from the Department of Revenue Administration in February 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of New Hampshire Form NH-1040

We have a total of nine past-year versions of Form NH-1040 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2022 Form NH-1040

nh-1040-2022.pdf

2021 Form NH-1040

nh-1040-2021.pdf

2020 Form NH-1040

nh-1040-2020.pdf

2019 Form NH-1040

nh-1040-2019.pdf

2016 Form NH-1040

nh-1040-2015v1-1.pdf


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