“Income-producing activity”, pursuant to RSA 77-A:3, I(c) in effect prior to January 1, 2021 for taxable periods ending before December 31, 2021, reprinted in Appendix B, means:

1. (a) Transactions and activities directly engaged in by the business organization for the ultimate purpose of obtaining gain or profit and shall include, but not be limited to, the following:

   1. (1) The rendering of personal services by employees or the utilization of tangible and intangible property by the business organization in performing a service;
   2. (2) The sale, rental, leasing, or other use of real property;
   3. (3) The sale, rental, leasing, licensing, or other use of tangible personal property; or
   4. (4) The sale, licensing, or other use of intangible personal property; and

2. (b) This term does not include:

   1. (1) Transactions and activities performed for the business organization by independent contractors or other similar persons or entities; or
   2. (2) The mere holding of a security interest in intangible property.

Source. #4438, eff 6-22-88; ss by #5490, eff 10-19-92; ss by #6853, eff 9-23-98; ss by #8709, eff 8-25-06; ss by #10758, eff 1-16-15 (from Rev 301.16) renumbered by #13177 (formerly Rev 301.17); ss by #14231, eff 4-3-25, EXPIRES 4-3-35