Form Cd-57-Hc - Real Estate Transfer Tax Declaration Of Consideration For Real Estate Holding Companies - 2010 Page 2
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1
2NEW HAMPSHIRE DEPARTMENT OF REVENUE ADMINISTRATION
FORM
REAL ESTATE TRANSFER TAX DECLARATION OF
CD-57-HC
CONSIDERATION FOR REAL ESTATE HOLDING COMPANIES
Instructions
RSA 78-B:10
WHAT IS REAL ESTATE TRANSFER TAX?
number(s). Please attach a supplemental schedule for 3 or more
It is a tax on the transfer, sale or granting of real property or an interest
purchasers.
in real property. Where the price of consideration is $4,000 or less there
is a minimum tax of $20 to both, the purchaser and the seller. See the
STEP 2
tax rate chart in Step 6 below for applicable tax rates.
Seller: Enter the full name and address after sale of the seller(s),
grantor(s), assignor(s), or transferor(s) and the taxpayer identifi cation
WHAT IS A REAL ESTATE HOLDING COMPANY?
number(s). Please attach a supplemental schedule for 3 or more
A "Real Estate Holding Company" means a business organization, as
sellers.
defi ned in RSA 77-A:1,I, which is engaged in the business of holding,
selling or leasing real estate which derives more than 50 percent of its
STEP 3
annual gross receipts from the ownership or disposition of real estate;
Real Estate Holding Company: Enter the name, taxpayer
or holds real estate, the fair market value of which comprises more
identifi cation number and address of the Real Estate Holding
than 50 percent of the total market value of the assets of the company,
Company and check the appropriate box for entity type.
exclusive of goodwill.
STEP 4
WHAT IS FAIR MARKET VALUE?
Property location and description: Enter the municipality where the
Rev 801.04 "Fair market value" means the price property would command
property is located. Enter the book number, page number and county
if sold by a seller who is willing, but not compelled, to sell and purchased
where the property held by the Real Estate Holding Company is recorded.
by a purchaser who is willing, but not compelled, to purchase.
Give a brief description of the property in the space provided.
WHEN TO FILE
STEP 5
A Declaration of Consideration for Real Estate Holding Companies must
Date of transfer: Enter the date of transfer of interest in the Real Estate
be fi led with the NH Department of Revenue Administration (NH DRA)
Holding Company.
within 30 days of the transfer.
STEP 6
WHO MUST FILE
Fair market value and tax calculation for both the purchaser and the
The purchaser, grantee, assignee, or transferee must fi le the Declaration
seller. Enter the results of the calculations below for both the purchaser
and submit payment. A Declaration must be fi led for all transfers of
and the seller in the columns provided.
transferrable interests in real estate holding companies, as defi ned by
RSA 78-B:1-a, VI, holding real estate, the transfer of which would be
Line 1
taxable under the provisions of RSA 78-B if transferred directly.
Enter the fair market value of all New Hampshire real estate.
WHO MUST PAY
Line 2
The tax is assessed on both the purchaser and the seller, with a minimum
Enter the percentage of interest being transferred expressed as a decimal
charge of $20 each.
to two places.
WHERE TO FILE
Line 3
File the Declaration of Consideration and payment with: NH Department
Enter the results of Line 1 multiplied by Line 2.
of Revenue Administration, Documents Processing Division, PO Box
2035, Concord, NH 03302-2035
Line 4
Round the amount on Line 3 up to the nearest $100.
PENALTIES
If a return is not fi led on a timely basis, a failure to fi le penalty equal to 5%
Line 5
TAX RATE CHART
of the outstanding balance, with a minimum of $10 per month, is charged
Divide the amount on line
7/1/99 - Present
$0.75 per $100
for each of the fi rst fi ve months or parts thereof after the return is due. In
4 by $100.
7/1/93 - 6/30/99
$0.50 per $100
addition, there is a penalty equal to 100% of the additional tax due
4/1/90 - 6/30/93
$0.525 per $100
if either the buyer or seller makes a false statement on either the
Line 6
Prior to 1990 contact the NH DRA
transfer tax form or deed that no tax is due, or pays tax on less than
Enter the tax rate in effect
PERIOD
INTEREST RATE
the actual price or consideration for the transfer. The 100% false
as of the date of transfer.
1/1/2010 - 12/31/2010
6%
1/1/2009 - 12/31/2009
7%
statement penalty is in lieu of the 10% late payment penalty.
(See tax rate chart)
1/1/2008 - 12/31/2008
10%
1/1/2007 - 12/31/2007
10%
NEED HELP?
Line 7
1/1/2006 - 12/31/2006
8%
Contact the Audit Division by calling (603) 271-3400 with questions
Enter the subtotal for both the
concerning this form. Monday through Friday, 8:00 am - 4:30 pm. All
purchaser and the seller by
Prior to 1/1/2006 contact NH DRA
written correspondence to the Department should include the taxpayer
multiplying line 5 by line 6.
name, the name of a contact person and a daytime telephone number.
Line 8(a)
NEED FORMS?
Interest is calculated on the balance of tax due from the original due date
To obtain additional forms please call (603) 271-2192. Copies of Form
to the date paid. (See interest rate chart at right)
CD-57-HC may also be obtained from our web site at
Line 8(a)
TDD ACCESS
Penalties. (See general instructions above)
Hearing or speech impaired individuals may call: TDD Access: Relay
NH 1-800-735-2964. Individuals who need auxiliary aids for effective
Line 9
communication in programs and services of the Department of Revenue
Enter the total of Lines 7, 8(a) and 8(b) for the purchaser plus Lines 7,
Administration are invited to make their needs and preferences known
8(a) and 8(b) for the seller, rounded to the nearest dollar. Mail payment
to the Department.
with this form.
STEP 7
Signatures: Signatures, in ink, of both the purchaser(s) and the seller(s)
LINE-BY-LINE INSTRUCTIONS
are required. The signatures, in ink, must be witnessed and dated in
STEP 1
the spaces provided.
Purchaser: Enter the full name and address of the purchaser(s),
grantee(s), assignee(s) or transferee(s) and the taxpayer identifi cation
CD-57-HC
Instructions
Rev 6/2010
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