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Bar News - August 14, 2009


Technical Information Regarding Distributions from Entities

Editor’s note: As a service to taxpayers and practitioners, a technical information release provides information regarding tax laws administered, or the policy positions of the NH Dept. of Revenue Administration.

The Legislature has passed and Governor Lynch has signed HB2, which enacts changes to the Interest and Dividends Tax law, RSA 77. These changes make distributions from Limited Liability Companies, partnerships and associations subject to the Interest and Dividends Tax to the same extent that distributions from corporations are subject to the tax.

Pursuant to Section 279 of HB2 (Chapter 144, Laws of 2009), the changes to RSA 77 are effective for calendar year/tax years beginning on or after January 1, 2009.

Rulemaking to provide further clarification of the application of the changes to the law will be initiated by the Department of Revenue Administration shortly. If you would like to receive notice of the rulemaking in order to participate in the public hearings or provide written comment, you may provide your contact information by e-mail to: gbartlett@rev.state.nh.us or by calling 603-271-0606.

You may also call Central Taxpayer Services at 603-271-2191 with any questions.

Read this release in its entirety.

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