New Hampshire Code of Administrative Rules
Rev - Department of Revenue Administration
Chapter Rev 900 - INTEREST AND DIVIDENDS TAX
Part Rev 903 - INCLUSIONS AND EXCLUSIONS TO INCOME
Section Rev 903.04 - Deemed Interest
Universal Citation: NH Admin Rules Rev 903.04
Current through Register No. 12, March 21, 2024
(a) When an amount of property is actually received by a taxpayer and is not classified as interest, but the nature of the transaction, the relatedness of the parties, or both, indicates that the payment of interest was actually intended and was paid, then an amount of interest shall be:
(1) Deemed by the
department to have been paid; and
(2) Calculated at the fair market value, for
the money that was loaned based on the facts and circumstances of the specific
taxpayer.
(b) Interest deemed paid shall include:
(1) The difference
between the amount received at maturity and the actual purchase price of a
discounted bond less any amount previously reported on such bond by the
taxpayer;
(2) The difference
between the discount price paid for a non-interest bearing bond and either:
a. The bond's face value if sold at maturity;
or
b. The amount received upon its
sale prior to maturity; and
(3) The unpaid interest on bonds paying
periodic interest when the bond is sold by the taxpayer between interest
payment dates since the selling price includes the earned but unpaid
interest.
#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
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.
