Section 77:11 Accumulations.
I. Income accumulated in trust for the benefit of unborn or unascertained persons shall be taxed as if accumulated for the benefit of inhabitants of this state.
II. Income accumulated in an employee benefit plan, as defined by the Employment Retirement Income Security Act of 1974, section 3, 29 United States Code § 1002(3), as amended, or in a trust comprising a part of such a plan, shall not be subject to taxation under RSA 77:1.
Source. 1923, 65:8. PL 65:11. RL 78:11. RSA 77:11. 1981, 314:5. 1982, 42:67, retroactive to Sept. 1, 1981.