N.D. Cent. Code § 57-38-01.24
Internship employment tax credit
Redline — December 1, 2021 → current.View current text →
Current — March 1, 2022
As of December 1, 2021
(1) A taxpayer that is an employer within this state is entitled to a credit as determined under this section against state income tax liability under section 57-38-30 or 57-38-30.3 for qualified compensation paid to an intern employed in this state by the taxpayer. To qualify for the credit under this section, the internship program must meet the following qualifications: The intern must be an enrolled student in an institution of higher education or vocational technical education program who is seeking a degree or a certification of completion in a major field of study closely related to the work experience performed for the taxpayer;
(2) The internship must be taken for academic credit or count toward the completion of a vocational technical education program;
(3) The intern must be supervised and evaluated by the taxpayer; and
(4) The internship position must be located in this state.
(5) The amount of the credit to which a taxpayer is entitled is ten percent of the stipend or salary paid to a college intern employed by the taxpayer. A taxpayer may not receive more than three thousand dollars in total credits under this section for all taxable years combined. The tax credit under this section applies to a stipend or salary for not more than five interns employed at the same time.
A seller of biodiesel fuel or green diesel fuel is entitled to a credit against tax liability determined under section 57-38-30 or 57-38-30. 3 in the amount of ten percent per year for five years of the biodiesel or green diesel fuel seller’s direct costs incurred to adapt or add equipment to a facility, licensed under section 57-43.2-05, to enable the facility to sell diesel fuel containing at least two percent biodiesel fuel or green diesel fuel by volume. For purposes of this section, “biodiesel fuel” and “green diesel fuel” mean fuel as defined in section 57-43.2-01. The credit under this section may not exceed a taxpayer’s liability as determined under this chapter for the taxable year and each year’s unused credit amount may be carried forward for up to five taxable years. A biodiesel or green diesel fuel seller is limited to fifty thousand dollars in the cumulative amount of credits under this section for all taxable years. A biodiesel or green diesel fuel seller may not claim a credit under this section for any taxable year before the taxable year in which the facility begins selling biodiesel or green diesel fuel containing at least two percent biodiesel or green diesel fuel by volume, but eligible costs incurred before the taxable year sales begin may be claimed for purposes of the credit under this section for taxable years on or after the taxable year sales of biodiesel or green diesel fuel begin.
A passthrough entity entitled to the credit under this section must be considered to be the taxpayer for purposes of this section, and the amount of the credit allowed must be determined at the passthrough entity level. The amount of the total credit determined at the entity level must be passed through to the partners, shareholders, or members in proportion to their respective interests in the passthrough entity.
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.