New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 900 - INTEREST AND DIVIDENDS TAX
Part Rev 902 - RESIDENCY AND TAXABILITY OF SPECIAL ENTITIES
Section Rev 902.09 - Mixed-Share Organizations
Universal Citation: NH Admin Rules Rev 902.09
Current through Register No. 12, March 21, 2024
With respect to organizations composed of a mixture of share types, the tax status of such organizations and the holders of equity interests in such organizations, shall be determined as follows:
(a) When the majority of the outstanding equity interest in the organization is composed of transferable shares:
(1) Each share shall be deemed a transferable
share;
(2) The organization shall
not be subject to tax under RSA 77; and
(3) The distributions of profits to any
equity interest holder shall be considered a dividend subject to the interest
and dividends tax; or
(b) When the majority of the outstanding equity interest in the organization is composed of non-transferable shares:
(1) Each share shall be deemed a
non-transferable share;
(2) The
organization shall be subject to tax under RSA 77; and
(3) The distribution of profits to any equity
interest holder shall not be considered a dividend subject to the interest and
dividends tax.
#6321, eff 8-22-96; ss by #8137, eff 8-10-04); ss by #9658, eff 2-24-10; ss by #9843, eff 12-23-10 (see Revision Note at chapter heading for Rev 900); ss by #10211, eff 10-24-12
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