HB 1182 Summary

• Suspends North Dakota income tax for individuals, estates, and trusts for the first two taxable years beginning after December 31, 2012.

• Taxpayers may still claim specific adjustments and credits provided in the tax code during the suspension period.

• Tax commissioner may prescribe procedures to allow refunds of withheld or estimated taxes paid during the suspension period.

• Extends the carryforward period for credits or deductions to which taxpayers were entitled by two years during the suspension.

• The suspension expires after the first two taxable years beginning after December 31, 2012, and the tax resumes thereafter.