Taxation

NH Department of Revenue Issues Draft of Interest and Dividends Tax Rules; Rulemaking Process Begins

September 2009

By Dodd S. Griffith*

The New Hampshire Department of Revenue Administration (NH DRA) has issued a preliminary draft of revised Interest and Dividends Tax Rules. The revisions are needed to implement statutory changes that were made when House Bill 2 was signed into law on June 30, 2009. Interested parties have the opportunity to file comments on the preliminary draft by October 2, 2009.

Gallagher, Callahan & Gartrell urges LLCs, partnerships, associations, and other interested parties to review the preliminary draft and consider participating in the rulemaking process. Participation and public comment are effective ways to voice support and/or concerns about the draft rules, and to help influence the final rules. Our Tax practice and Government Relations / Lobbying professionals are available to assist you in these efforts, should you so choose. Please email or call Attorney Dodd Griffith at 603-228-1181 for additional information.

The NH DRA has identified 17 policy areas to be addressed as part of the rulemaking process, and additional policy issues could very well come up. The Department will hold a public hearing at a date to be determined, and expects final rules to be adopted by mid-November. Additional information on the preliminary draft rules and the rulemaking process can be found on the NH DRA website.

* Dodd Griffith is admitted in New Hampshire.

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