N.H. Admin. Code § Rev 902.05

Current through Register No. 1, January 2, 2025

Section Rev 902.05 - Treatment of Mutual Funds and Their Investors

The taxation of mutual funds and their investors under RSA 77, except such funds that are qualified investment companies under RSA 77-A:1, XXI, and their holders, shall be determined by the status of the investor's shares or interests as either:

(a) Shares which are transferable, in which case:

(1) The mutual fund shall not be subject to the tax; and

(2) The individual investors shall be taxable and required to file tax returns; or

(b) Shares which are not transferable, in which case:

(1) The mutual fund shall be taxable and required to file tax returns; and

(2) The individual investors shall not be subject to the tax as to the interest and dividend income received by the fund until distributed.

N.H. Admin. Code § Rev 902.05

#4557, eff 12-28-88; ss by #5947, eff 12-29-94; ss by #6321, eff 8-22-96; ss by #8137, eff 8-10-04 (from Rev 902.04 ); ss by #10211, eff 10-24-12