SB 2277 Summary

• Excludes social security benefits from income calculations for the homestead tax credit by adding an exception to the income definition under section 57-02-08.1.

• Allows married couples filing jointly a marriage penalty credit of up to $300 per couple, adjusted annually to match rate schedule adjustments.

• Defines "qualifying income" for the marriage penalty credit to include earned income, retirement pension 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, 2018.