Title 57 — Taxation

As used in this chapter, unless the context otherwise requires: 1. "Agricultural commodity processing facility" means: a. A facility that through processing involving the employment of knowledge and labor adds value to an agricultural commodity capable of being raised in this sta…

1. The director shall certify whether a business that has requested to become a qualified business meets the requirements of subsection 5 of section 57-38.6-01. The director shall establish the necessary forms and procedures for certifying qualified businesses. 2. A qualified bus…

If a taxpayer makes a qualified investment in a qualified business, the taxpayer is entitled to a credit against state income tax liability as determined under section 57-38-30 or 57-38-30.3. 1. The amount of the credit to which a taxpayer is entitled is thirty percent of the amo…

The tax credit under section 57-38.6-03 accrues to the taxpayer for the taxable year in which the investment in the qualified business was received by the qualified business.

To receive the tax credit provided by section 57-38.6-03, a taxpayer must claim the credit on the taxpayer's annual state income tax return in the manner prescribed by the tax commissioner and file with the return a copy of the form issued by the qualified business as to the taxp…

Within thirty days after the date on which an investment in a qualified business is purchased, the qualified business shall file with the tax commissioner and the director and provide to the investor completed forms prescribed by the tax commissioner which show as to each investm…

The tax commissioner is charged with administration of this chapter as it relates to an income tax credit and has the same powers for purposes of this chapter as provided under section 57-38-56. The director is charged with administration of this chapter as it relates to certific…