North Dakota Code 57-38.5-05 – Seed capital investment tax credit limits
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The aggregate amount of seed capital investment tax credit allowed for investments under this chapter is limited to three million five hundred thousand dollars for each calendar year. If investments in qualified businesses reported to the commissioner under section 57-38.5-07 exceed the limits on tax credits for investments imposed by this section, the credit must be allowed to taxpayers in the chronological order of their investments in qualified businesses as determined from the forms filed under section 57-38.5-07.
Terms Used In North Dakota Code 57-38.5-05
- Credits: means and includes every claim and demand for money or other valuable thing, and every annuity or sum of money receivable at stated periods, due or to become due, and all claims and demands secured by deeds or mortgages, due or to become due. See North Dakota Code 57-02-01
- year: means twelve consecutive months. See North Dakota Code 1-01-33