North Dakota § 57-38.5-01 Definitions

North Dakota Statutes

§ 57-38.5-01 — Definitions

North Dakota § 57-38.5-01

Title 57Taxation

Ch. 57-38.5Seed Capital Investment Tax Credit

This text of North Dakota § 57-38.5-01 (Definitions) 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 § 57-38.5-01 (2026).

Text

As used in this chapter, unless the context otherwise requires:

1."Director" means the director of the department of commerce division of economic development and finance.

2."Passthrough entity" has the same meaning as in section 57-38-01.

3."Primary sector business" has the meaning provided in section 1-01-49 but does not include an agricultural commodity processing facility as defined under section 57-38.6-01.

4."Qualified business" means a business other than a real estate investment trust which is a primary sector business that:

a.Is incorporated or its satellite operation is incorporated as a for-profit corporation, passthrough entity, or joint venture;

b.Is in compliance with the requirements for filings with the insurance commissioner under the securities laws of this state; c

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As used in this chapter, unless the context otherwise requires:
1. "Director" means the director of the department of commerce division of economic
development and finance.
2. "Passthrough entity" has the same meaning as in section 57-38-01.
3. "Primary sector business" has the meaning provided in section 1-01-49 but does not
include an agricultural commodity processing facility as defined under section
57-38.6-01.
4. "Qualified business" means a business other than a real estate investment trust which
is a primary sector business that:
a. Is incorporated or its satellite operation is incorporated as a for-profit corporation,
passthrough entity, or joint venture;
b. Is in compliance with the requirements for filings with the insurance commissioner
under the securities laws of this state;
c. Has North Dakota residents as a majority of its employees in the North Dakota
principal office or the North Dakota satellite operation;
d. Has its principal office in this state and has the majority of its business activity
performed in this state, except sales activity, or has a significant operation in
North Dakota that has or is projected to have more than ten employees or one
hundred fifty thousand dollars of sales annually; and
e. Relies on innovation, research, or the development of new products and
processes in its plans for growth and profitability.
5. "Taxpayer" means an individual, estate, or trust or a corporation, passthrough entity, or
an angel fund. The term does not include a real estate investment trust.