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RSA 77-A:4-b · Special Rule for Exchanges of Like-Kind Property Under Internal Revenue Code Section 1031

Title
TAXATION
Chapter
77-A · BUSINESS PROFITS TAX
Status
current
Official source linked
Yes

Official source

77-A:4-b Special Rule for Exchanges of Like-Kind Property Under Internal Revenue Code Section 1031. –
I. In the case of a qualified like-kind exchange under Internal Revenue Code section 1031, in which a business organization uses a single member limited liability company, revocable trust, or other entity disregarded for federal income tax purposes as the recipient of replacement property, the recipient entity shall take the basis of the relinquished property as held by the parent business organization, prior to the exchange, as computed for federal income tax purposes.
II. The recipient of the replacement property, for all other purposes, and in keeping with the requirements of separate entity taxation under this chapter, shall be a business organization, as defined in RSA 77-A:1, I and subject to the provisions of RSA 77-A.
Source. 2010, 286:1, eff. July 8, 2010.

Source note

Source. 2010, 286:1, eff. July 8, 2010.

Source history

  • 2010, 286:1, eff. July 8, 2010

Related materials

Bills affecting or mentioning this RSA