Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
4 CMC § 1801 Legal Tender
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1801. Legal Tender. The legal tender of the Commonwealth shall be that of the United States. Source: PL 3-11, § 801; repealed and reenacted by PL 14-35, § 4 (1801). Commission Comment: PL 14-35 was enacted on October …
4 CMC § 1802 General Fund
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1802. General Fund. There is created a General Fund into which all revenues raised pursuant to the tax laws and other revenues laws, and all monies received by the Commonwealth, its departments, agencies and instrumen…
4 CMC § 1803 Distribution of Revenues to Marianas Visitor Authority and the Retirement Fund
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1803. Distribution of Revenues Marianas Visitor Authority and the Retirement Fund. The Marianas Visitors Authority shall receive twenty percent of the taxes collected under 4 CMC § 1405(b) and eighty percent of the ta…
4 CMC § 1804 Distribution of Revenues
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1804. Distribution of Revenues. (a) Except as provided by this Division, all revenues raised pursuant to this Division shall be deposited into the General Fund. (b) The Secretary shall cause the Department of Finance …
4 CMC § 1805 Non-NMTIT Application
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1805. Non-NMTIT Application. Unless otherwise specifically provided, the provisions in this chapter shall apply to taxes other than taxes under Chapter 7 of this Division. Source: PL 3-11, § 805; amended by PL 7-19 § …
4 CMC § 1806 Delegation of Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1806. Delegation of Authority. The administration and enforcement of this entire Division shall be under the supervision of the Secretary. Any of the responsibilities, tasks or duties conferred upon the Secretary here…
4 CMC § 1807 Tax Forms
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1807. Tax Forms (a) The Secretary shall prescribe the forms for all returns required to be furnished under the provisions of this Division or provide for other methods of filing returns and may provide in such forms f…
4 CMC § 1808 Transaction to be Recorded
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1808. Transaction to be Recorded. (a) Every person, engaging in any transaction subject to a tax, fee or charge imposed under this Division shall keep a complete and accurate record of each transaction in English and …
4 CMC § 1809 Record Retention and Conflict of Interest
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1809. Record Retention and Conflict of Interest. (a) The Commonwealth shall preserve the information contained in reports and returns filed under this Division until the Secretary orders them to be destroyed. (b) The …
4 CMC § 1810 Authority to Reduce and Negotiate Tax and Penalties; Authority to Make Credits or Refunds
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1810. Authority to Reduce and Negotiate Tax and Penalties; Authority to Make Credits or Refunds. (a) The Secretary may waive any additions to tax, additional amounts, or penalties, or any part thereof attaching to act…
4 CMC § 1811 Service by Publication
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1811. Service by Publication. For all tax actions, including Chapter 7 of this Division, where service of process is required, the Commonwealth Government or its designee may serve process on a party not found within …
4 CMC § 1812 Private Letter Rulings
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1812. Private Letter Rulings. The procedures for private letter rulings shall follow that form prescribed in section 1707 of this Division. Source: PL 3-11, § 812; repealed and reenacted by PL 14-35, § 4 (1812).
4 CMC § 1813 Timely Mailing Treated as Timely Filing and Paying
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1813. Timely Mailing Treated as Timely Filing and Paying. (a) General Rule. (1) Date Of Delivery. If any return, claim, statement, or other document required to be filed, or any payment req uired to be made, within a …
4 CMC § 1814 Time for Performance of Acts Where Last Day Falls On Saturday, Sunday, or Legal Holiday
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1814. Time for Performance of Acts Where Last Day Falls On Saturday, Sunday, or Legal Holiday. When the last day prescribed under authority of the Commonwealth Tax laws for performing any act falls on Saturday, Sunday…
4 CMC § 1815 Extensions to File Tax Returns
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1815. Extensions to File Tax Returns. (a) For purposes of the Wage and Salary Tax and the Earnings Tax, there shall be an extension to file a tax return as provided by regulations prescribed by the Secretary. (b) In t…
4 CMC § 1816 Authority to Administer Oaths and Certify; Authority to Regulate Practice
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1816. Authority to Administer Oaths and Certify; Authority to Regulate Practice. (a) Department of Finance Personnel. Every officer or employee of the Department of Finance designated by the Secretary for that purpose…
4 CMC § 1817 Closing Agreements; Compromises
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1817. Closing Agreements; Compromises. (a) Closing Agreements. The Secretary is authorized to enter into an agreement in writing with any person relating to the liability of such person (or of the person or estate for…
4 CMC § 1818 Jurisdiction of Superior Court as Tax Court
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1818. Jurisdiction of Superior Court as Tax Court. In addition to such other jurisdiction as the Superior Court of the Northern Mariana Islands has with respect to the NMTIT and Chapter 7 as the Tax Court of the Unite…
4 CMC § 1819 Interest
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1819. Interest. In addition to the penalties imposed by 4 CMC §§ 18121-18151, interest at the rate and manner provided under NMTIT § 6621 shall be imposed on all unpaid taxes, penalties, fees and charges imposed by th…
4 CMC § 1820 Regulations
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1820. Regulations. The Secretary may adopt by regulation, interpretations, procedures, and regulations issued under the U.S. Internal Revenue Code (“IRC”) as adopted under Chapter 7, that are not clearly inconsistent …
4 CMC § 1821 Withholding of Wage and Salary Tax
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1821. Withholding of Wage and Salary Tax. (a) Withholding by the Employer. The tax imposed by section 1201 of this Division shall be collected through deductions and withholdings upon the employee’s wages, as and when…
4 CMC § 1822 Withholding Earnings at the Source and Filing Returns
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1822. Withholding Earnings at the Source and Filing Returns. (a) Requirement of Withholding. (1) In General. A withholding tax at the maximum rate pursuant to 4 CMC § 1204 is imposed on earnings as defined by section …
4 CMC § 1823 Withholding on Real Estate Transactions
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1823. Withholding on Real Estate Transactions. (a) In General. In the case of any transfer of a CNMI real property interest, the tax imposed by section 1301 or 1202 of this Division, on the gross revenue of a transfer…
4 CMC § 1824 Regulations Requiring Returns on Magnetic Media
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1824. Regulations Requiring Returns on Magnetic Media. (a) In General. The Secretary shall prescribe regulations providing standards for determining which returns must be filed electronically or on magnetic media or i…
4 CMC § 1825 CNMI Tax Return Preparer Must Furnish Copy of Return to Taxpayer and Must Retain a Copy or List
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1825. CNMI Tax Return Preparer Must Furnish Copy of Return to Taxpayer and Must Retain a Copy or List. (a) Furnishing a copy to taxpayer. Any person who is a CNMI tax return preparer with respect to any return or clai…
4 CMC § 1831 Authority
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1831. Authority. The Secretary of Finance or his delegate is authorized to make inquiries, determinations and assessments of all taxes (including interest, additional amounts, additions to the tax, and penalties) impo…
4 CMC § 1832 Erroneous Prepayment Credits
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1832. Erroneous Prepayment Credits. If on any return or claim for refund of taxes imposed by this Division, there is an overstatement of the credit for tax withheld at the source, or of the amount paid as estimated ta…
4 CMC § 1833 Taxes Assessed
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1833. Taxes Assessed. The Secretary shall assess all taxes determined by the Secretary as to which returns, schedules, lists or entry certificates are required to be made. Taxes and all other amounts indicated as due …
4 CMC § 1834 Method of Assessment
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1834. Method of Assessment. Secretary’s assessments shall be made by recording the liability of the taxpayer in the Office of the Secretary in accordance with rules or regulations prescribed by the Secretary. Upon req…
4 CMC § 1835 Supplemental Assessments
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1835. Supplemental Assessments. The Secretary may, at any time within such periods as may be prescribed for assessments, make such supplemental or additional assessment whenever it is ascertained that any assessment i…
4 CMC § 1836 Assessment: No Return Filed
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1836. Assessment: No Return Filed. (a) Notice. Upon the failure of any person to make and file a return required by this Division within the time and the manner and form prescribed, or upon failure to pay any amount d…
4 CMC § 1837 Assessment: Erroneous Return Filed
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1837. Assessment: Erroneous Return Filed. In the event any taxpayer makes and files a return, schedule or list required by this Division, and the Secretary determines that said return, schedule or list is untrue, erro…
4 CMC § 1838 Termination Assessment
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1838. Termination Assessment. (a) In General. If the Secretary believes that a taxpayer designs quickly to depart from the Commonwealth or to remove his property therefrom, or to conceal himself or his property therei…
4 CMC § 1839 Notice of Assessment
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1839. Notice of Assessment. If the Secretary determines that there is a deficiency in respect of any tax imposed by this Division, he is authorized to send notice of assessment to the taxpayer by certified mail or reg…
4 CMC § 1840 Abatement
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1840. Abatement. The Secretary is authorized to abate the unpaid portion of the assessment of any tax or any liability in respect thereof, which: (a) Is excessive in amount; (b) Is assessed after the expiration of the…
4 CMC § 1841 Commencement of Proceedings
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1841. Commencement of Proceedings. (a) Civil Actions. (1) The Attorney General shall have the authority to commence civil actions to collect any taxes assessed under this Division either in the name of the Commonwealt…
4 CMC § 1842 Transferred Assets
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1842. Transferred Assets. (a) Method of Collection. The amounts of Non-NMTIT liabilities, at law or in equity, of a transferee of property shall, except as hereinafter provided in this section, be assessed, paid and c…
4 CMC § 4441 Requirement for and Duties of Board of Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4441. Requirement for and Duties of Board of Directors. (a) Except as provided in subsection (c) of this section, each corporation must have a board of directors. (b) All corporate powers shall …
4 CMC § 4442 Qualifications of Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4442. Qualifications of Directors. The articles of incorporation or bylaws may prescribe qualifications for directors. A director need not be a resident of the Commonwealth or a shareholder of t…
4 CMC § 4443 Number and Election of Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4443. Number and Election of Directors. (a) If a board of directors has power to fix or change the number of directors, the board may increase or decrease by 30 percent or less the number of dir…
4 CMC § 4444 Election of Directors by Certain Classes of Shareholders
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4444. Election of Directors by Certain Classes of Shareholders. If the articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all o…
4 CMC § 4445 Terms of Directors Generally
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4445. Terms of Directors Generally. (a) The terms of the initial directors of a corporation expire at the first shareholders’ meeting at which directors are elected. (b) The terms of all other d…
4 CMC § 4446 Staggered Terms for Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4446. Staggered Terms for Directors. If there are nine or more directors, the articles of incorporation may provide for staggering their terms by dividing the total number of directors into two …
4 CMC § 4447 Resignation of Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4447. Resignation of Directors. (a) A director may resign at any time by delivering written notice to the board of directors, its chairman, or to the corporation. (b) A resignation is effective …
4 CMC § 4448 Removal of Directors by Shareholders
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4448. Removal of Directors by Shareholders. (a) The shareholders may remove one or more directors with or without cause unless the articles of incorporation provide that directors may be removed…
4 CMC § 4449 Removal of Directors by Judicial Proceeding
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4449. Removal of Directors by Judicial Proceeding. (a) The Commonwealth Superior Court may remove a director of the corporation from office in a proceeding commenced either by the corporation or…
4 CMC § 4450 Vacancy on Board
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4450. Vacancy on Board. (a) Unless the articles of incorporation provide otherwise, if a vacancy occurs on a board of directors, including a vacancy resulting from an increase in the number of d…
4 CMC § 4451 Compensation of Directors
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4451. Compensation of Directors. Unless the articles of incorporation or bylaws provide otherwise, the board of directors may fix the compensation of directors. Source: PL 10-7, § 1 (Bus. Corp. …
4 CMC § 4461 Meetings
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4461. Meetings. (a) The board of directors may hold regular or special meetings in or out of the Commonwealth. (b) Unless the articles of incorporation or bylaws provide otherwise, the board of …
4 CMC § 4462 Action Without Meeting
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TITLE 4: ECONOMIC RESOURCES DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS § 4462. Action Without Meeting. (a) Unless the articles of incorporation or bylaws provide otherwise, action required or permitted by this part to be taken at a board of director’s meeting may be …