ND SB2305

Excludes social security benefits from income calculations for homestead tax credit purposes, with an exception that allows social security benefits to be counted when determining eligibility under section 57-02-08.1(5).

Modifies the marriage penalty credit to allow married couples filing jointly a maximum credit of $300 per couple (adjusted annually), calculated by comparing joint tax liability to the sum of individual tax liabilities.

Defines "qualifying income" for marriage penalty credit purposes to include earned income, retirement pension/profit-sharing/annuity income, and social security benefits.

Reduces North Dakota taxable income by the amount of social security benefits included in federal gross income under Internal Revenue Code section 86.

Effective for taxable years beginning after December 31, 2014.