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<br />ND Code Sec. 40-63-10, Pass-through of tax exemption or credit <br /> <br />*19697 N.D. Code ~ 40-63-10 <br /> <br />WEST'S NORTH DAKOTA <br />CODE <br />TITLE 40. MUNICIPAL <br />GOVERNMENT <br />CHAPTER 40-63. <br />RENAISSANCE ZONES <br /> <br />Current through the 2005 Regular <br />Session of the 59th Legislative Assembly <br /> <br />~ 40-63-10. Pass-through of tax exemption <br />or credit <br /> <br />A partnership, subchapter S corporation, <br />limited partnership, limited liability company, or <br />any other pass-through entity that purchases or <br /> <br />Page 1 <br /> <br />leases property in a renaIssance zone for any <br />business purpose, invests in a historic <br />preservation or renovation of property within a <br />renaissance zone, or invests in a renaissance fund <br />organization must be considered to be the <br />taxpayer for purposes of any investment <br />limitations in sections 40-63-04, 40-63-06, and <br />40-63-07, and the amount of the exemption or <br />credit allowed with respect to the entity's <br />investments must be determined at the pass- <br />through entity level. The amount of the total <br />exemption or credit determined at the entity level <br />must be passed through to the partners, <br />shareholders, or members in proportion to their <br />respective interests in the pass-through entity. <br /> <br />Added by L.1999, c. 369, g 10, eff. Jan. 1, 1999. Amended <br />by L.2001, c. 359, g 9, eff. Aug. 1,2001. <br /> <br />Search this disc for cases citing this section. <br /> <br />~ 2007 Thomson/West. No claim to original U.S. Govt. works. <br />