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 903.07 - Post-Termination Distributions of Federally Recognized S Corporations
Current through Register No. 12, March 21, 2024
(a) Distributions made by S corporations from the accumulated adjustment account, or the previously taxed income categories shall be a dividend.
(b) Distributions made by S corporations from the earnings and profits of the corporation accumulated prior to the S corporation election being made shall follow the provision in Rev 902.08(a).
(c) Upon termination of S corporation status, distributions to shareholders shall be taxable dividends upon receipt by the shareholder, either directly or indirectly.
(d) In instances of indirect receipt of distributions, the department shall deem amounts to have been received by the shareholder at the time when evidence of the transfer is acknowledged by a reduction in the accumulated adjustments account.
(e) Decreases in the amount of loans to a shareholder of an S corporation with a corresponding reduction in the S corporation accumulated adjustment account shall be considered a dividend as if:
(f) Increases in the amount of loans from a shareholder of an S corporation with a corresponding reduction in the accumulated adjustment account shall be considered a dividend as if:
#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; renumbered by #9658 (from Rev 903.07 ); renumbered by #9843 (from Rev 903.08 ) (see Revision Note at chapter heading for Rev 900); ss by #10211, eff 10-24-12