CD-57-P New Hampshire Real Estate Transfer Tax Declaration of Consideration — Purchaser (2024)

# New Hampshire Department of

Revenue Administration CD-57-P

RETT DECLARATION OF CONSIDERATION REAL ESTATE PURCHASER (GRANTEE)

# GENERAL INSTRUCTIONS COMMON QUESTIONS

WHAT IS REAL ESTATE TRANSFER TAX? It is a tax on the transfer, sale, or granting of real property or an interest in real property. Where the price or consideration is $4,000 or less there is a minimum tax of $20 to both, the purchaser and the seller. The tax rate from 7/1/99 to present is $0.75 per $100. WHAT IS FAIR MARKET VALUE? Rev 801.04 "Fair market value" means the price property would command in an arms length transaction if sold by a seller who is willing, but not compelled, to sell and purchased by a purchaser who is willing, but not compelled, to purchase. WHAT IS PRICE OR CONSIDERATION? Price or consideration means the amount of money, other property and services, or property or services valued in money which is given in exchange for real estate, and measured at a time immediately after the transfer of the real estate. ARE THERE EXEMPTIONS FOR PAYMENT OF THE TAX? Every transfer, sale or granting of real property or an interest in real property is taxable unless exempted by statute. Please refer to the list of exemptions under RSA 78-B:2. Please note that the Form CD-57-P is not required for transfers exempted by RSA 78-B:2, except transfers exempted by RSA 78-B:2, IX.

# WHEN TO FILE

A Declaration of Consideration (Form CD-57-P) and an Inventory of Property Transfer (Form PA-34) formally known as Real Estate Transfer Questionnaire, must be filed with the NH Department of Revenue Administration (NH DRA) within 30 days of recording the deed.

# WHO MUST FILE

For all contractual transfers, and non-contractual transfers under RSA 78-B:2, IX, the purchaser, grantee, assignee, or transferee must file and sign the Declaration CD-57-P.

# WHO MUST PAY

The tax is assessed on both the purchaser and the seller, with a minimum charge of $20 each. The tax is paid at the Register of Deeds office in the county where the property is located. DO NOT send the tax payment with this Declaration.

# WHERE TO FILE

File online at Granite Tax Connect gtc.revenue.nh.gov/TAP/_/ or mail to NH DRA, Taxpayer Services Division, PO Box 3308, Concord, NH 03302-3308.

# PENALTIES

FAILURE TO FILE: If a return is not filed on a timely basis, a failure to file penalty equal to 5% of the outstanding balance, with a minimum of $10 per month, is charged for each of the first five months or parts thereof after the return is due. The total amount of this penalty shall not exceed 25% of the balance of tax due or $50, whichever is greater. FAILURE TO PAY: A penalty equal to 10% of any nonpayment or underpayment of taxes shall be imposed if the taxpayer fails to pay when due. If the failure to pay is due to fraud, the penalty shall be 50% of the amount of nonpayment or underpayment. In addition, there is a penalty equal to 100% of the additional tax due if either the buyer or seller makes a false statement on either the transfer tax form or deed that no tax is due, or pays tax on less than the actual price or consideration for the transfer. The 100% false statement penalty is in lieu of the 10% late payment penalty. NEED FORMS? To obtain additional forms please visit our website www.revenue.nh.gov/ or call the Forms Line at (603) 230-5001. An original (not photocopied) Form PA-34 must also be obtained for filing whenever a sale or transfer of real estate occurs. Contact the Department at (603) 230-5950 if you need an original Form PA-34. NEED HELP? Call the Department of Revenue Administration, Taxpayer Services at (603) 230-5920. Individuals with hearing or speech impairments may call TDD Access: Relay NH 1-800-735-2964.

# LINE-BY-LINE INSTRUCTIONS

Continue onto page 2 for line-by-line instructions. CD-57-P Instructions Version 1 09/2024 Page 1 of 2

New Hampshire Department of Revenue Administration CD-57-P

RETT DECLARATION OF CONSIDERATION REAL ESTATE PURCHASER (GRANTEE)

# LINE-BY-LINE INSTRUCTIONS

STEP 1 - PURCHASER First select the applicable Entity Type of the purchaser and identify if the return is original or amended. Enter the full name and address (use new mailing address, if applicable), phone number, and the taxpayer identification number(s) of the purchaser(s), grantee(s), assignee(s), or transferee(s). Each Purchaser or group of joint purchasers must file a CD-57-P. Please file an additional CD-57-P for two or more joint purchasers. STEP 2 - SELLER Enter the full name of the seller(s), grantor(s), assignor(s), or transferor(s). STEP 3 - REAL ESTATE Property Location and Description: Enter the municipality, county, street number, street name, and apartment/unit number where the property is located. Provide the tax map, block, and lot (parcel identification number) used by the municipality to identify the parcel. If the sale is a multitown sale, please enter all of the municipalities where parcels are located. STEP 4 - DEED Enter the transfer date, recording date, and Book and Page numbers assigned by the County Register of deeds. Please indicate the deed type for the transactions (only one deed type may be selected). STEP 5 - TAX AMOUNT

LINE A Enter the full price or consideration paid for the real estate transferred.

LINE B Divide the amount on (a) by $100.

# LINE C

Enter the tax rate in effect as of the date of transfer. Tax rate from 7/1/99 - Present is $0.75 per $100. Please contact the NH DRA for rates prior to 7/1/99.

# LINE D

Enter the subtotal of the tax for the Purchaser by multiplying (b) by (c), rounding to the nearest whole dollar.

# LINE E

Enter the total tax paid to the County on behalf of the Seller and Purchaser. Multiply 5(d) by 2. Check the appropriate box as to whether or not the Purchaser is claiming tax exemption under RSA 78-B:2. STEP 6 - SIGNATURES (PAPER FORM) Purchaser's Signature and Information: The Form must be signed and dated by the Purchaser(s). STEP 7 - PREPARER Power of Attorney (POA): By checking the POA box and signing Step 6, the taxpayer authorizes the preparer listed to act on the Purchaser's behalf for this return only, including entering the Book and Page numbers and filing this return. This is a limited POA for this return only. Preparer's Signature and Information: If this Form was filled out by someone other than the Purchaser, please enter the full name, entity, address, and phone number of the preparer. CD-57-P Instructions Version 1 09/2024 Page 2 of 2