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INCENTIVE DESCRIPTION
| State: | ND |
| Incentive Type: | Income/Franchise Tax Incentives and Credits |
| Incentive Title: | Other Tax Credits |
| Description: | 1. INCOME TAX EXEMPTION: A primary sector or tourism business may qualify for an income tax exemption for up to five years. 2. BIODIESAL TAX CREDIT: For tax years after December 31, 2002, taxpayers may claim a credit equal to 10% per year for five years of costs incurred to produce at least 2% biodiesal fuel. Any excess credit may be carried forward five taxable years. The credit is limited to a cumulative amount of $250,000 for all taxable years. Tax years after December 31, 2004, fuel supplier who blend at least 5% biodiesal fuel are entitled to a credit of 5 cents per gallon. Any excess credit may be carried forward for 5 years. Sellers of at least 2% biodiesal fuel blends are entitled to a credit of 10% per year for 5 years of the direct costs incurred to adapt or add equipment for biodiesal fuel. Any excess credit may be carried forward for 5 taxable years, but is limited to $50,000 for all taxable years. |
| Eligibility Requirements: | 1. A business is not eligible for the exemption if 1) the business received a property tax exemption under tax increment financing: or 2) the exemption fosters unfair competition or endangers existing business. Eligibility is limited to a new business, or to an existing business that expands its operations, in North Dakota. 2. Must be a qualified fuel supplier or seller. Must have approved capital costs. Must file all required forms and approvals. |
| Geographic Restrictions: | Statewide |
| Granting Authority: | State of North Dakota |
| The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com |
Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives. |
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