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

New Hampshire Statutes

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

New Hampshire § 77-A:4-b

Title VTAXATION

Ch. 77-ABUSINESS PROFITS TAX

This text of New Hampshire § 77-A:4-b (Special Rule for Exchanges of Like-Kind Property Under Internal Revenue Code Section 1031) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 77-A:4-b (2026).

Text

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.

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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.