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115 chapters · 1,834 sections in this title.
4 CMC § 10701 Public Debt Authorization
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Public Debt Authorization. This article is a bond authorization act within the meaning of PL 11-3 (4 CMC §§ 10451 et seq.). The Commonwealth Economic Development Authority (CEDA) on behalf of the Commonwealth, is hereby authorized to issue, in one or more series, up to $60,000,00…
4 CMC § 1701 Application of the Internal Revenue Code, In General
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Application of the Internal Revenue Code, In General. (a) The United States Internal Revenue Code (“Internal Revenue Code” or “IRC”), made applicable by this chapter, is a statute adopted as a local territorial income tax. The IRC as herein incorporated is made a part of Commonwe…
4 CMC § 1702 Internal Revenue Code Adopted
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Internal Revenue Code Adopted. (a) Definition: Internal Revenue Code. “Internal Revenue Code” means the following provisions of the Internal Revenue Code of 1986 as further amended as below specified, where not manifestly inapplicable or incompatible with the intent of the Covena…
4 CMC § 1703 Nonretroactivity of Tax on Commonwealth Sourced Income
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Nonretroactivity of Tax on Commonwealth Sourced Income. In regard to the taxation under the NMTIT of income accruing on or prior to January 1, 1985, the NMTIT shall in all cases be interpreted as subjecting to the NMTIT only that income which is not “Commonwealth sourced income.”…
