2009 New Hampshire Statutes
TITLE V — TAXATION (Includes Chapters 71 - 90)
CHAPTER 77 — TAXATION OF INCOMES
Section 77:1-a Definitions.
In this chapter:
I. ""Accumulated profits'' means:
(a) In the case of a corporation, other than a subchapter S corporation, the amount determined to be earnings and profits for federal income tax purposes; or
(b) In the case of all trusts represented by transferable shares, subchapter S corporations, limited liability companies, associations, and partnerships, the total undistributed revenues of the entity from whatever source derived.
II. ""Dividends'' means an amount of property distributed, with respect to their ownership interest, other than in liquidation of the organization, to shareholders or interest holders of an organization from:
(a) Current year profit;
(b) Accumulated profits of such entity; or
(c) Debt financed by the entity.
Source. 2009, 144:275, eff. July 1, 2009.
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