North Dakota § 57-38.1-17.1 Gain or loss on the sale of a partnership

North Dakota Statutes

§ 57-38.1-17.1 — Gain or loss on the sale of a partnership

North Dakota § 57-38.1-17.1

Title 57Taxation

Ch. 57-38.1Uniform Division of Income Tax Act

This text of North Dakota § 57-38.1-17.1 (Gain or loss on the sale of a partnership) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 57-38.1-17.1 (2026).

Text

Gain or loss on the sale of a partnership interest is allocable to this state in the ratio of the
original cost of partnership tangible property in the state to the original cost of partnership
tangible property everywhere, determined at the time of the sale. In the event that more than
fifty percent of the value of the assets of the partnership consist of intangibles, gain or loss from
the sale of the partnership interest is allocated to this state in accordance with the ratio of total
North Dakota income to total income of the partnership for its first full tax period immediately
preceding the tax period of the partnership during which the partnership interest was sold. This
section applies to the extent, that prior to the sale of the partnership interest, the partnership's
income or los

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Gain or loss on the sale of a partnership interest is allocable to this state in the ratio of the
original cost of partnership tangible property in the state to the original cost of partnership
tangible property everywhere, determined at the time of the sale. In the event that more than
fifty percent of the value of the assets of the partnership consist of intangibles, gain or loss from
the sale of the partnership interest is allocated to this state in accordance with the ratio of total
North Dakota income to total income of the partnership for its first full tax period immediately
preceding the tax period of the partnership during which the partnership interest was sold. This
section applies to the extent, that prior to the sale of the partnership interest, the partnership's
income or loss constituted nonbusiness income.