ND HB1342

Excludes social security benefits from income calculations for homestead tax credit purposes by modifying the definition of "income" in section 57-02-08.1(5)(c).

Establishes a marriage penalty credit of up to $300 per couple filing joint returns, with annual adjustments matching rate schedule adjustments under section 57-38-01.28.

Defines "qualifying income" for the marriage penalty credit to include earned income, retirement pension/profit-sharing/annuity plan income, and social security benefits as defined in the Internal Revenue Code.

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, 2018.