Section Rev 303.02 - Qualified Research Contributions(a) For purposes of RSA 77-A:4, XII(a), the business organization shall add back to its gross business profits the federally deducted amount attributable to the specifically contributed items which meet all requirements of qualified research contributions set forth in RSA 77-A:1, X.(b) Each business organization taking a qualified research contribution under RSA 77-A:4, XII shall attach a document to its business profits tax return containing the following information: (2) Date of each donation;(3) Description of each item donated;(4) Amount deducted under section 170 of the IRC for the contributed item;(5) Business organization's basis in the contributed item;(6) Total amount of unrealized appreciation for the contributed item; and(7) The portion of the federal contribution carryover attributable to a New Hampshire contribution deducted under RSA 77-A:4, XII.(c) The amount listed under (b)(7), above, shall be utilized to increase the business organization's gross business profits in subsequent years as the contribution carryover is used to reduce federal taxable income.(d) When a contribution becomes a New Hampshire qualified research contribution, as defined in RSA 77-A:1, X, that contribution shall: (1) Be considered fully taken in the year it is given;(2) Not be endowed with special federal tax attributes beyond the scope of the language of RSA 77-A:1, X, such as, but not limited to, the federal carryover capabilities of unused charitable contributions; and(3) Not be carried over to a subsequent business profits tax return.N.H. Code Admin. R. Rev 303.02
#2567, eff 12-28-83; ss by #2722, eff 5-23-84; ss by #4192, eff 12-23-86; ss by #5490, eff 10-19-92; amd by #6675, eff 1-27-98; ss and moved by #6853, eff 9-23-98 (from Rev 303.03 ); 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.