New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 2400 - BUSINESS ENTERPRISE TAX
Part Rev 2403 - ADJUSTMENTS TO THE ENTERPRISE VALUE TAX BASE
Section Rev 2403.01 - Net Earnings from Self-Employment Retained in the Business Enterprise
Universal Citation: NH Admin Rules Rev 2403.01
Current through Register No. 13, March 27, 2025
(a) A business enterprise may deduct from its enterprise value tax base, the amount of net earnings from self-employment which:
(1) Are retained and used for the
reasonable needs of the business enterprise; and
(2) Have previously been, or are currently
being, taxed under RSA 77-A as the business profits of the business
enterprise.
(b) The reasonable needs of the business enterprise shall not include the following:
(1) The total amount of any deduction taken
for the personal services of a proprietor or partner for business profits tax
purposes under RSA
77-A:4, III; or
(2) The amount of funds loaned by the
business enterprise to the proprietor, partners or any directly or indirectly
related party under the provisions of the IRC.
(c) The business enterprise shall maintain accounting records that are sufficient to analyze all transactions between the business enterprise and:
(1) The
owner(s);
(2) Any related party
under the provisions of the IRC; and
(3) The amount of funds needed by the
business enterprise for its current and future operations.
INTERIM #5708, eff 9-23-93, EXPIRED: 1-21-94; ss by #5774, eff 1-21-94; ss by #7178, eff 12-23-99, EXPIRED: 12-23-07
New. #9065, eff 1-10-08
Disclaimer: These regulations may not be the most recent version. New Hampshire may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
