New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 300 - BUSINESS PROFITS TAX
Part Rev 307 - RETURNS, DECLARATIONS, AND EXTENSIONS
Section Rev 307.08 - Qualified Investment Company Election & Reporting

Universal Citation: NH Admin Rules Rev 307.08

Current through Register No. 13, March 27, 2025

(a) For purposes of this section, the following definitions shall apply:

(1) "Qualified Investment Company (QIC)" means a qualified investment company as defined in RSA 77-A:1, XXI.

(2) "New Hampshire investment trust" means a qualified investment company as defined in RSA 77-A:1, XXI.

(3) "Taxable period" means taxable period as defined in RSA 77-A:1, V.

(b) A business organization that meets the definition of a QIC and elects QIC status for New Hampshire business tax purposes shall complete and file a Form AU-207 "Qualified Investment Company (QIC) Election" on or before the fifteenth day of the third month of the taxable period pursuant to RSA 77-A:5-b.

(c) An election filed pursuant to (b) above shall remain effective until:

(1) The election is revoked pursuant to RSA 77-A:5-b, V(a) and the revocation is filed with the department; or

(2) The entity ceases to qualify as a QIC as provided in RSA 77-A:1, XXI.

(d) A revocation, pursuant to (c)(1) above, shall be filed with the department on or before the fifteenth day of the third month of the taxable period to be effective for that taxable period, otherwise, the revocation shall be effective for the following taxable period.

(e) A business organization that has properly elected QIC status shall annually complete and file Form AU-208 "Qualified Investment Company (QIC) Report," or the QIC federal income tax return, on or before 30 days following the filing of the QIC's federal income tax return with the United States Internal Revenue Service for the tax period.

(f) If the governing instrument of a New Hampshire investment trust creates one or more series trusts, as provided in RSA 293-B:8, II(d), each series trust shall elect to be treated as a QIC by:

(1) The parent company and each series trust filing a Form AU-207; or

(2) The parent company filing a single Form AU-207, with an attached schedule identifying each series trust, including a separate taxpayer identification number for each series.

(g) Each series trust, pursuant to (f)(1) above, that files a Form AU-207, shall annually complete and file a Form AU-208, or the QIC federal income tax return, on or before 30 days following the filing of the QIC's federal income tax return with the United States Internal Revenue Service for the tax period.

(h) Each parent organization that files a Form AU-207, pursuant to (f)(2) above, shall annually complete and file a Form AU-208, or the QIC federal income tax return, on or before 30 days following the filing of the QIC's federal income tax return with the United States Internal Revenue Service for the tax period.

#2012, eff 5-5-82; ss by #2722, eff 5-23-84; ss by #4192, eff 12-23-86; ss by #5490, eff 10-19-92; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06

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.