Section Rev 903.05 - Deemed Dividends With the exception of distributions in liquidation, the following transactions between an organization and its shareholders or interest-holders shall be considered a dividend:
(a) All property transferred from an organization to a shareholder or interest-holder with respect to the shareholder's or interest-holder's ownership interest from the accumulated profits of the organization;(b) All personal expenditures made by an organization on behalf of a shareholder or interest-holder which have not been properly reported as compensation or loans for federal income tax purposes;(c) Forgiveness of a shareholder or interest-holder's indebtedness to the organization; and(d) The automatic re-investment of property distributed from current year's or accumulated profits into additional stock.N.H. Admin. Code § Rev 903.05
#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; ss by #9658, eff 2-24-10; ss by #9843, eff 12-23-10 (see Revision Note at chapter heading for Rev 900); ss by #10211, eff 10-24-12