1. The following tax credits may be claimed only by a subchapter S corporation required to pay state income tax pursuant to subsection 1 of North Dakota Century Code section 57-38-01.4: a. Corporate tax credit for new industry. b. Corporate tax credit for research and experimental expenditures.

2. The shareholders may not claim tax credits claimed by the subchapter S corporation.

History: Effective March 1, 1988; amended effective March 1, 1990; June 1, 2002; July 1, 2016.

General Authority: NDCC 57-38-56

Law Implemented: NDCC 57-38-01.4, 57-38-01.7, 57-38-01.16, 57-38-01.17