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ND SB2362
Bill
Status
Introduced
1/26/2015
Primary Sponsor
Jon Casper
Click for details
AI Summary
- Extends the deadline for angel fund investments to qualify for income tax credits to the date prescribed by law for filing the taxpayer's return for that taxable year, excluding extensions
- Provides a 45 percent income tax credit for amounts remitted to domestic angel funds during the taxable year
- Limits annual tax credits to $45,000 per taxpayer and lifetime credits to $500,000 per individual, married couple, passthrough entity and its affiliates, or other taxpayer
- Prohibits using investments for the angel fund credit to calculate any other income tax deduction or credit allowed by law
- Effective for taxable years beginning after December 31, 2014
Legislative Description
Extending the time for remitting funds to an angel fund to qualify for an income tax credit for the taxable year; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 9 nays 36
2/5/2015
Committee Referrals
Finance and Taxation1/26/2015
Full Bill Text
No bill text available