N.H. Admin. Code § Rev 708.01

Current through Register No. 50, December 12, 2024

Section Rev 708.01 - Taxpayer Records and Information

(a) Under the authority of RSA 78-A:19, the following information shall be maintained:

(2) Sales;

(3) Cash disbursements;

(4) Purchases;

(5) General ledger;

(6) Payroll records;

(7) Complete cash register tapes including the summary and final register reading information;

(8) Guest checks, folios and registration cards;

(9) Rental and lease agreements;

(10) Bank statements with all enclosures for all business and personal accounts;

(11) The meals and rentals tax worksheet;

(12) A printed copy or confirmation of each return filed electronically; and

(13) Any other source documents required to support entries in any accounting records.

(b) The records enumerated in (a), above, may be in a worksheet format provided that such worksheets shall be the basis for the preparation of any financial statements and federal or state tax returns.

(c) The records enumerated in (a), above, shall be clear and legible and include the dates they were created.

(d) Every operator shall provide the commissioner, or his authorized representatives with:

(1) Records; and

(2) Access to key company personnel for interviews, upon request.

(e) If the department determines that the records maintained by the operator are not adequate for the purposes of making an accounting to the department for tax collection liability, it shall:

(1) Determine a tax liability based on any and all available records pursuant to RSA 78-A:11 including physical observation by department personnel of actual sales; and

(2) Deny the operator commission available under RSA 78-A:7, III.

(f) The operator shall maintain separate and distinct records that clearly define taxable versus non-taxable sales.

(g) If such separate records are not maintained, the department shall presume all receipts are taxable unless evidence is presented as to the purchase and sale of nontaxable items.

(h) Evidence, as required by (f), above, shall include:

(1) Vendor invoices showing the purchase price paid by the operator, for the nontaxable items purchased during the audit period;

(2) The beginning and ending inventory amounts for each nontaxable item sold; and

(3) Operator's pricing policies regarding the markup of purchase prices to arrive at the selling price.

(i) The sales value of the nontaxable items purchased and sold based on the evidence provided in (h), above, shall be deducted from the total gross receipts of the operator.

(j) Operators using computer systems capable of recreating, upon request, source documents such as, but not limited to, individual guest checks, sales invoices, rental agreements or registration cards shall not be required to maintain the original hard copy of the source document.

(k) Operators using computers incapable of recreating an individual transaction shall maintain the original hard copies.

N.H. Admin. Code § Rev 708.01

#5912, eff 10-14-94; ss by #6750, eff 5-19-98; ss by #6870, eff 10-20-98; ss by #8653, eff 6-8-06

Amended byVolume XXXIV Number 46, Filed November 13, 2014, Proposed by #10714, Effective 11/7/2014.

Amended by Volume XXXIX Number 46, Filed November 14, 2019, Proposed by # 12907, Effective 10/23/2019, Expires 10/23/2029.