New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 900 - INTEREST AND DIVIDENDS TAX
Part Rev 901 - DEFINITIONS
Section Rev 901.04 - A beneficial interest in which is represented by transferable shares
Universal Citation: NH Admin Rules Rev 901.04
Current through Register No. 12, March 21, 2024
A "beneficial interest in which is represented by transferable shares," as used in RSA 77:4, III,means an interest in an organization:
(a) Which is a:
(1) Business trust;
(2) Common law trust;
(3) Massachusetts trust;
(4) Real estate investment trust;
or
(5) Homeowners or condominium
association;
(b) Where property is placed in the hands of a trustee, who:
(1) Acts apart from the beneficiaries;
and
(2) Manages and deals with the
property, as principal, for the use and benefit of the beneficiaries who hold
equitable interests; and
(c) Where the shares, equitable interests and all ownership rights are freely transferable without the necessity of securing prior member approval or causing a dissolution of the organization.
#4557, eff 12-28-88; ss by #5947, eff 12-29-94; ss by #6321, eff 8-22-96; ss by #8137, eff 8-10-04; ss by #10211, eff 10-24-12
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