Introduction
Form NH-1120 is not a copy-and-paste exercise from your federal corporate return. New Hampshire applies its own starting point, adjustments, apportionment rules and attachments, and a figure that is correct federally can be wrong on the state return.
"2026 instructions" can mean two things. It can mean a 2025 tax-year return filed during 2026, or a taxable period that ends in 2026.
As of the New Hampshire Department of Revenue Administration (DRA) form index, the annual package listed is the 2025 NH-1120 and BT-SUMMARY, with 2026 forms limited to estimates (NH-1120-ES). Always confirm the printed form year against your period.
This guide covers who files, what to gather, line-by-line completion, federal-to-state adjustments, deadlines, payment and review steps. Dollar amounts are US dollars, as New Hampshire states them.
Key Takeaways
- Confirm NH-1120 fits your entity's federal tax classification before entering numbers.
- New Hampshire follows the federal tax code as of 31 December 2018, so federal deductions don't flow through automatically.
- BT-SUMMARY accompanies NH-1120, along with the federal return and applicable schedules.
- An extension moves the filing date only. Tax is still due on the original deadline.
Who Needs to File NH-1120 in 2026?
Choose the correct return
NH-1120 is for organisations taxed federally as corporations, including single-member LLCs that elect corporate treatment, with New Hampshire activity. Federal S corporations file DP-120 with the return instead.
Other entities use different forms:
- NH-1065 for partnerships and LLCs taxed as partnerships
- NH-1040 for proprietorships
- NH-1041 for fiduciaries
- NH-1120-WE for qualifying unitary groups with at least one out-of-state member
Test each tax threshold separately
For periods beginning in 2025 onward, the DRA business taxes page sets two independent tests:
- Business Profits Tax (BPT): worldwide gross business income above $109,000
- Business Enterprise Tax (BET): worldwide gross receipts or enterprise value tax base above $298,000
Note the measure is worldwide, not just New Hampshire receipts. Organisations expressly exempt from income tax under the Internal Revenue Code are excluded. Corporations claiming P.L. 86-272 protection must claim the exemption and file a zero-apportionment return with federal pages.
Identify the period and return type
Use the federal taxable period: calendar year, fiscal year or short period. A period ending in 2026 may begin in 2025. Mark the final-return box if the organisation ceases to exist or stops New Hampshire activity. Errors require a corrected BT-SUMMARY plus the applicable returns and schedules.
For combined groups with differing periods, members convert to the principal New Hampshire organisation's period.
Documents to gather
- Complete federal Form 1120 (pages 1-6, schedules and statements)
- General ledger or trial balance, income statement and balance sheet
- Federal and New Hampshire tax-basis depreciation schedules
- Prior-year NH return and any DRA notices
- Estimated payment records, credits and carryforwards
- Ownership and affiliate information
- Records on interest, dividends, compensation and related-party transactions
Related forms
| Form | Role |
|---|---|
| BT-SUMMARY | Required with any BPT or BET filing |
| DP-120 | Required for federal S corporations |
| DP-80 | Apportionment, where it applies |
| DP-132 | Claiming a New Hampshire net operating loss |
| Schedule IV | Specified other federal code adjustments |
| BET worksheet / DP-160 | BET-only credits / other credits |
| BT-EXT | Payment of any balance when extending |
How to Complete NH-1120 Step by Step
Enter taxpayer and period information
BT-SUMMARY asks for name, address, ID and principal business activity code. If DRA issued a DIN, enter only the DIN. Enter the actual beginning and ending dates of the period, and check the final or amended boxes where relevant. Align names with your federal return and registration records.
Start from federal income and reconcile
Line 1 begins with federal Form 1120 line 28. For federal S corporations, it is DP-120 line 2. Lines 2 through 5 reconcile federal and New Hampshire items, and line 6 covers items such as:
- Income and franchise taxes
- Interest on US obligations
- Foreign-dividend gross-up
- Specified research contributions
Book income, federal taxable income and New Hampshire profits are three different numbers. Keep a workpaper tying each difference to a source.
Make additions and subtractions
New Hampshire ties to the federal code as of December 31, 2018, with state modifications. Two common adjustments:
- Section 179: New Hampshire caps the deduction at $500,000. Add back the excess on line 2(a).
- Bonus depreciation: Disallowed. Add it back on line 2(b), recalculate depreciation and deduct the difference on line 2(d).
Confirm how qualified improvement property is treated for 2025 and 2026 in the current NH-1120 instructions before relying on any assumption.
Apportion and calculate tax
Apportionment uses a single sales factor: New Hampshire sales divided by sales everywhere, carried to six decimals on DP-80. Goods are generally sourced to destination, and services to where they are delivered. DP-80 apportions BPT profits. It does not compute the BET base.
The calculation runs from adjusted profits through apportionment and any NOL to taxable profits, taxed at 7.5%. Subtract credits on line 13. Line 14 floors net BPT at zero and carries to BT-SUMMARY line 1(b).
Sign, attach and retain
- Sign and date BT-SUMMARY in ink (paper filing); the paid preparer signs too
- Attach complete federal pages, schedules and consolidating statements
- Keep payment confirmations and filing acknowledgments
- Retain records at least 3 years from filing, and longer through audits or appeals
Offshore support teams, including VJM Global, prepare federal Form 1120 and related state filings following IRS protocols. That can help when a parent company outside the US needs the federal and state workpapers aligned.
Federal-to-New Hampshire Adjustments and Related Schedules
Depreciation differences
Because New Hampshire disallows bonus depreciation and caps Section 179, you must keep separate New Hampshire tax-basis depreciation records. The instructions require maintaining them. Confirm in the current DRA forms package whether any separate depreciation schedule applies. Differences carry into later years and into gain or loss on disposal.
Business Profits Tax versus Business Enterprise Tax
The two taxes have different bases:
- BPT: 7.5% of apportioned taxable business profits
- BET: 0.55% of the enterprise value tax base (compensation, interest and dividends paid or accrued)
BET paid can credit against BPT, capped at BPT liability. Unused credits carry forward 10 taxable periods. Completing NH-1120 does not satisfy BET; it needs its own return and schedules.
Multi-state and foreign-owned considerations
- Test nexus and the worldwide income threshold using actual New Hampshire activity
- Reconcile overseas or non-unitary entities if filing NH-1120-WE; federal consolidated membership does not define New Hampshire membership
- Document intercompany transactions
Foreign owners are not pointed to a separate disclosure-only form in the 2025 package. A foreign owner doesn't automatically have to file NH-1120. Classification and New Hampshire activity decide it.
Estimated payments and credits
Reconcile estimates, extension payments, credits and prior overpayments against the DRA payment portal, the prior return and your workpapers. Resolve any mismatch before filing. Estimates aren't required if annual BPT is under $200 and BET under $260, tested separately.
Adjustment workpaper checklist
For each adjustment, record:
- The federal line and amount
- The New Hampshire line or schedule
- The calculation and source document
- Carryforward or future-year effect
Have a second person review depreciation, apportionment, related-party deductions, credits, estimates and any amended entries.
Deadlines, Payment, Filing Methods, and Recordkeeping
Filing and extension deadlines
- Calendar-year corporations: 15 April (the 2025 return was due 15 April 2026)
- Fiscal-year corporations: the 15th day of the fourth month after year-end
- Partnerships (NH-1065): the 15th day of the third month
An automatic seven-month extension applies if 100% of BPT and BET is paid by the original deadline. BT-EXT remits any outstanding balance; don't file it with a zero or negative balance. Whether a federal extension is recognised is unclear, so confirm with current DRA guidance.
Payment and penalties
A filing extension does not extend payment. Estimated instalments for 2026 fall on 15 April, 15 June, 15 September and 15 December for calendar-year filers.
| Item | Rule |
|---|---|
| Late payment | 10% of unpaid tax |
| Late filing | 5% per month, minimum $10, capped at 25% of balance or $50 |
| Underpayment interest | 9% annually for 2026 and 2027 |
| Estimate penalty | May apply below 90% of current liability |
DRA accepts payments through GTC, scheduled bank or card payments, and mailed checks with coupons. Use DP-2210/2220 to determine underpayment penalty.
Filing methods and professional help
Paper filings need ink signatures on BT-SUMMARY. Check DRA guidance on the day you file for any mandatory electronic filing rule specific to NH-1120 and its rejection-correction window. Non-compliant electronic signatures are rejected under Rev 2900.
VJM Global supports accounting, tax compliance and financial reporting for US-connected and multinational businesses. It helps organise records and manage cross-border compliance, and it does not operate a New Hampshire office.
Frequently Asked Questions
What are the instructions for completing the New Hampshire Form BT-SUMMARY in 2024?
BT-SUMMARY is the annual reconciliation filed with BPT and BET returns. Match the instructions to your tax year. From 2025, the thresholds rose from $103,000 and $281,000 to $109,000 and $298,000.
What is Form NH-1120 used for in 2026?
It reports Business Profits Tax for entities taxed federally as corporations with New Hampshire activity. Confirm your classification and period in the current DRA instructions.
Who must file Form NH-1120 in New Hampshire?
Corporate-taxed entities with New Hampshire activity and worldwide gross business income above $109,000. Federal S corporations use DP-120 instead.
What documents do I need to complete NH-1120?
The federal return, trial balance, depreciation schedules, prior NH filings, estimate records, credits, ownership details and DP-80 workpapers.
When is Form NH-1120 due in 2026?
For calendar-year filers, the 2025 return is due by 15 April 2026. Fiscal-year filers file by the 15th day of the fourth month after year-end.
Can I get an extension to file Form NH-1120?
Yes. Pay 100% of BPT and BET by the original deadline and a seven-month extension is automatic. Any unpaid balance still accrues penalties and interest.
