Section Rev 1304.07 - Life Estates and Remainder Interests(a) To determine the taxable portion of a life estate or remainder passing to an individual subject to tax under RSA 86:6, the executor, administrator, legatee or their authorized representative, in instances where the valuation of the life estate is based on the life of one person shall: (1) For the month and year of the decedent's death, obtain the applicable federal rate under Section 7520 of the Internal Revenue Code of 1986, as amended, from the revenue rulings published during the month of the decedent's death in the Department of the Treasury's internal revenue bulletin;(2) Determine the age of the beneficiary of the life estate;(3) Utilize the Department of the Treasury, Internal Revenue Service's publication 1457 dated July, 1999, entitled Actuarial Values - Alpha Volume, and select the single life rate table for the applicable federal rate determined in (1) above;(4) For the age of the beneficiary, select the appropriate percentage factor for the life estate or the remainder whichever is the taxable portion of the legacy; and(5) Multiply the date of death value of the legacy by the percentage factor determined in (4) above;(b) In instances where the valuation of the life estate is based on the life of more than one person, the valuation shall be determined in accordance with U.S. Department of the Treasury notice 89-60.N.H. Admin. Code § Rev 1304.07
#5681, eff 8-5-93; ss by #6525, eff 6-24-97; ss by #7718, eff 6-22-02