Section Rev 2402.02 - Interest Element(a) Interest, as defined in RSA 77-E:1, XI, shall be included in the interest element when it is recognized as an expense for financial accounting purposes of the business enterprise without regard to: (1) Any limitation on deductibility for federal income tax purposes; or(2) The capitalization requirements provided in IRC section 263A.(b) The interest element shall not be reduced by any interest income or other fee income received for the use of its money or property.(c) When an amount of property is actually transferred by a business enterprise and is not classified as interest, but the substance of the transaction or the relatedness of the parties indicates that the payment was made in lieu of interest, then an amount of interest shall be deemed to have been paid. The amount of deemed interest shall be equal to the amount paid which is in excess of the fair market value of the property transferred.(d) Imputed interest, pursuant to IRC section 7872, relative to treatment of loans at below market interest rates, shall be included in the interest element.N.H. Admin. Code § Rev 2402.02
INTERIM #5708, eff 9-23-93, EXPIRED: 1-21-94; ss by #5774, eff 1-21-94; ss by #7178, eff 12-23-99, EXPIRED: 12-23-07
New. #9065, eff 1-10-08
Amended by Volume XXXVI Number 06, Filed February 11, 2016, Proposed by #11032, Effective 1/29/2016, Expires 1/29/2026.