Section Rev 2402.05 - Business Enterprises, Exempt from Tax Under IRC Section 501(c)(3), with Unrelated Business Income(a) For purposes of the enterprise value tax base, the exempt business enterprise shall report on the applicable Form BET, "Business Enterprise Tax Return," the activity associated with the unrelated business income portion of the business enterprise's activities reported on federal Form 990T.(b) The business enterprise shall allocate, when there is an overlap between the activities, the compensation and interest between the unrelated business income and exempt activities by basing: (1) Compensation on the hours spent performing services for the unrelated business activity in relation to the total hours worked; and(2) Interest on the portion of loan proceeds used for the unrelated business activities in relation to the total loans outstanding.N.H. Admin. Code § Rev 2402.05
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.