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A New Hampshire trust withholding certificate is a document that allows for the reduction or elimination of withholding tax on income distributed from a trust.
Any trustee or fiduciary responsible for distributing income from a trust in New Hampshire may need to obtain a trust withholding certificate.
To apply for a New Hampshire trust withholding certificate, you must complete and submit Form DP-132, along with any relevant supporting documentation, to the New Hampshire Department of Revenue Administration.
When applying for a trust withholding certificate, you will need to provide details about the trust, including its name, employer identification number (EIN), and the estimated amount of income to be distributed.
The processing time for a New Hampshire trust withholding certificate varies, but it typically takes several weeks. It's advisable to submit the application well in advance of the anticipated distribution date.
Yes, there is a fee associated with obtaining a New Hampshire trust withholding certificate. The current fee is $15, payable by check or money order.
While expedited processing is not guaranteed, you can include a written request for expedited review with your application, explaining the reason for the urgency. The Department of Revenue Administration will review such requests on a case-by-case basis.
If you fail to obtain a trust withholding certificate when required, the New Hampshire Department of Revenue Administration may impose withholding tax at the default rate, which could result in additional tax liability.
Yes, you can make changes to a previously issued trust withholding certificate by submitting an amended Form DP-132 to the Department of Revenue Administration. Make sure to include the explanation of the changes and any necessary supporting documentation.
A New Hampshire trust withholding certificate is valid for one year from the date of issuance. It needs to be renewed annually if income distributions continue.
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