Section Rev 302.06 - Gains or Losses on Sale of Business Assets(a) The selling price for the sale or other disposition of a business asset shall be the sum of: (2) Indebtedness assumed by the buyer or transferee; and(3) The fair market value of any property, other than money, received.(b) The basis of the business asset sold or exchanged shall be:(1) Determined using the requirements of the IRC; and(2) Applied at the entity level.(c) One hundred per cent of the recognized gain or loss on the sale, exchange or other disposition of a business asset shall be included in a business organization's gross business profits.(d) The recognition and realization of gains or losses on the sale, exchange, or other disposition of property shall be determined based upon the requirements of the IRC except where RSA 77-A and these rules prescribe a different treatment including, but not limited to, the determination of gain or losses using the federal provisions relating to consolidated returns.(e) Property owned by more than one business organization shall be reported by each business organization in proportion to its ownership interest on the gain or loss on the sale, exchange or other disposition of such property.N.H. Admin. Code § Rev 302.06
#3066, eff 7-23-85; ss by #4192, eff 12-23-86; amd by #4438, eff 6-22-88; ss by #5490, eff 10-19-92; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06
Amended byVolume XXXV Number 06, Filed February 12, 2015 , Proposed by #10758, Effective 1/16/2015, Expires1/16/2025.