New Hampshire Enhances Its Trust Tax Laws

New Hampshire Enhances Its Trust Tax Laws by the New Hampshire Trust Council July 31, 2012 The New Hampshire Trust Council today issued a press release regarding New Hampshire’s legislation repealing the interest and dividends tax as it applied to non grantor trusts. HAMPTON, NH (July 31, 2012) – The New Hampshire legislature has enacted SB 326, which completely eliminates the application of the 5% interest and dividends tax (the “I&D tax”) to “non-grantor” trusts. A non-grantor trust is an irrevocable trust that is treated as a taxpayer separate from its grantor for federal and New Hampshire income tax purposes. Read the full press release.