Qualified Investment Company - State Tax Question
Hi all:
If anyone here has any experience in meeting the requirements as a "Qualified Investment Company" pursuant to the NH Revenue Code to keep their trades from fallng subject to the Business Profits and Business Enterprise taxes I'd be very appreciative if they could spare a few minutes for some basic questions. Auditors at the Department of Revenue have assured me there are many single member LLCs that have done this in the state, but it appears to me this would require a mountain of compliance issues and documentation headaches pursuant to the Investment Company Act of 1940. Hopefully I'm missing something and will find that for the smaller entites aren't subject to most of these concerns.
Thanks in advance.
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