North Dakota § 57-38-30 Imposition and rate of tax on corporations

North Dakota Statutes

§ 57-38-30 — Imposition and rate of tax on corporations

North Dakota·Title 57 Taxation·Ch. 57-38 Income Tax

2.The distributed and undistributed taxable income of an electing small business corporation for federal and state income tax purposes derived from or connected with sources in this state does constitute income derived from sources within this state for a nonresident person who is a shareholder of such a corporation, and a net operating loss of such corporation derived from or connected with sources in this state does constitute a loss or deduction connected with sources in this state for such a nonresident individual.

Free access — add to your briefcase to read the full text and ask questions with AI

2. The distributed and undistributed taxable income of an electing small business
corporation for federal and state income tax purposes derived from or connected with
sources in this state does constitute income derived from sources within this state for a
nonresident person who is a shareholder of such a corporation, and a net operating
loss of such corporation derived from or connected with sources in this state does
constitute a loss or deduction connected with sources in this state for such a
nonresident individual.

North Dakota § 57-38-30 (Imposition and rate of tax on corporations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.