North Dakota § 57-39.2-05 Credit or refund for taxes paid on worthless accounts and repossessions

North Dakota Statutes

§ 57-39.2-05 — Credit or refund for taxes paid on worthless accounts and repossessions

North Dakota § 57-39.2-05

Title 57Taxation

Ch. 57-39.2Sales Tax

This text of North Dakota § 57-39.2-05 (Credit or refund for taxes paid on worthless accounts and repossessions) 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 § 57-39.2-05 (2026).

Text

1.Taxes paid on gross receipts represented by accounts found to be worthless and actually charged off for income tax purposes may be credited upon subsequent payment of the tax herein provided; provided, that if such accounts are hereafter collected by the retailer, a tax must be paid upon the amount so collected. If a retailer's filing responsibility has been assumed by a certified service provider, the certified provider may claim on behalf of the retailer any bad debt allowance provided under this section. The certified service provider shall credit or refund to the retailer the full amount of any bad debt allowance or refund received under this section.

2.If a retailer has remitted the sales tax due on the full amount of an installment sales contract rather than on only the installme

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1. Taxes paid on gross receipts represented by accounts found to be worthless and
actually charged off for income tax purposes may be credited upon subsequent
payment of the tax herein provided; provided, that if such accounts are hereafter
collected by the retailer, a tax must be paid upon the amount so collected. If a retailer's
filing responsibility has been assumed by a certified service provider, the certified
provider may claim on behalf of the retailer any bad debt allowance provided under
this section. The certified service provider shall credit or refund to the retailer the full
amount of any bad debt allowance or refund received under this section.
2. If a retailer has remitted the sales tax due on the full amount of an installment sales
contract rather than on only the installment payments received, the retailer may deduct
as a credit against the retailer's sales tax liability on the next return that the retailer is
required to file the amount of sales tax the retailer paid on the installment contract
payments which were not made by the purchaser of the merchandise sold under such
contract; such credit may be deducted by the retailer regardless of whether or not said
retailer has assigned the contract, provided, however, that if the retailer has assigned
the contract the retailer must have assigned it subject to an agreement to repurchase
the contract in the event of default by the purchaser under the contract or subject to a
guarantee that the payments under the contract would be made. In the event such
deduction exceeds the amount of sales tax due the state by the retailer in the next
regular return, such excess must be allowed as credit against future sales tax due
from the retailer. If in any case the credit, or any part of it, cannot be utilized by the
retailer because of a discontinuance of a business or for other valid reasons, the
amount thereof may be refunded to the retailer.