Relating to a corporate income tax credit, utilization of net operating losses and credit carryforwards, the time for filing of returns for certain corporations, interest on tax when the time for filing a return is extended, refunds of tax for certain corporations, and audits of certain corporations; to amend and reenact subsection 5 of section 11‑37‑08, subsection 8 of section 40‑63‑01, subsection 5 of section 40‑63‑04, section 40‑63‑06, subsections 3 and 4 of section 40‑63‑07, subsection 3 of section 57‑38‑01.3, subsections 5 and 7 of section 57‑38‑01.32, subdivisions c and f of subsection 2 of section 57‑38‑30.3, and section 57‑39.2‑26.1 of the North Dakota Century Code, relating to subjecting financial institutions to the corporate income tax, adjustments for net operating losses, bonds and other obligations of a commerce authority, creation of renaissance zones, state aid distribution fund allocations to political subdivisions, the housing incentive fund tax credit, computation of farm income, and income associated with losses passed through to a financial institution; to repeal chapter 57‑35.3 of the North Dakota Century Code, relating to elimination of the financial institutions tax; and to provide an effective date.
Last Official Action
Second reading, failed to pass, yeas 3 nays 44