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ND HB1277
Bill
Status
2/27/2013
Primary Sponsor
James Kasper
Click for details
AI Summary
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Amends North Dakota Century Code section 57-38-30.3 subdivision d to modify individual income tax deductions for capital gains, dividends, and interest earnings
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Allows a deduction of 100 percent of the first $75,000 and 90 percent of amounts exceeding $75,000 of combined qualified dividend income, net long-term capital gain, and taxable interest
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Adjustment applies only to qualified dividend income taxed at the same rate as long-term capital gain under Internal Revenue Code provisions in effect on December 31, 2012
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Adjustment is limited to income allocated to North Dakota
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Effective for taxable years beginning after December 31, 2012
Legislative Description
Individual income tax deductions for capital gains, dividends, and interest earnings; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 4 nays 42
3/27/2013