This bill recognizes
section 1031 exchanges which use federally disregarded entities as the recipient of , but emphasizes the character of such entities as separate entities for purposes of New Hampshire business profits tax.This bill recognizes Internal Revenue CodeInternal Revenue Code section 1031 like-kindlike-kind exchanges which use federally disregarded entities as the recipient of replacement propertyreplacement property , but emphasizes the character of such entities as separate entities for purposes of New Hampshire business profits tax.