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North Dakota Office of State Tax Commissioner

2003 Schedule RZ instructions

Line 1

•

You established another residence as

Listed on the National Historic Register

Enter the project number assigned to your

your primary place of residence during

of Historic Places.

zone project by the local zone authority.

the tax year.

•

A contributing structure within a

The project number is shown on the final

•

The 60-month credit period expired

National Register Historic District, or a

zone project approval letter issued by the

during the tax year, and the 60th month

certified state or local historic district.

North Dakota Commerce Department’s

is not the last month of the tax year.

•

Eligible for listing in the National

Division of Community Services. If you

Historic Register of Historic Places.

do not have a copy of the final zone

If any of the above conditions apply, enter

project approval letter, contact your local

on line 10 the number of months you are

Certification of historic property for

zone authority.

eligible for the credit during the tax year.

purposes of the Act is part of the zone

The number of months you are eligible for

project application process, and the

Attach a copy of the final zone project

the credit for the tax year is the smaller of

taxpayer will receive written notification of

approval letter to your North Dakota tax

the following:

the certification from the local zone

return.

•

Number of months in the 60-month

authority.

Line 2

credit period available to you as of the

This tax credit may be claimed by the

Enter the name of the renaissance zone

beginning of the tax year.

following taxpayers:

city where your zone project is located.

•

Number of months you owned and

•

An individual (on Form ND-1 or

occupied the residence during the tax

Line 3

Form ND-2)

year. If you acquired the residence

Enter the street address of your project

•

An estate or trust (on Form 38,

during the tax year, include the month

property. Include the apartment, suite, or

Schedule 1 or 2).

in which you took title to the residence

other unit number, if applicable. Do not

•

A corporation (on Form 40).

or first occupied it, whichever occurs

enter a post office box number.

last. If you disposed of the residence

•

A financial institution (on Form 35).

during the tax year, exclude the month

Line 4

Pass-through entity. If the taxpayer is a

of disposition.

If you qualified for more than one zone

partnership, S corporation, or other pass-

•

Number of months the residence was

project at the same street address, check

Pass-through entity

through entity, see

used as your primary place of residence.

the “Yes” box and write the project

on page 2.

numbers for all of them on the line

Amount of tax credit

provided on the schedule.

Instructions for

The tax credit is equal to 25 percent (25%)

Note: If you have more than one zone

Part 4

of the total amount invested in the project,

project for which you qualify for the

up to a maximum credit of $250,000. The

historic property preservation or

Historic property

first tax year in which the credit is allowed

renovation tax credit, complete a

is the tax year in which the preservation or

separate Schedule RZ for each project.

preservation or

renovation work is completed, as

Add the separately calculated amounts

determined by the local zone authority. If

and enter the total in Part 6, line 4, of

renovation tax

the credit exceeds the taxpayer’s tax

one of the schedules.

liability for the tax year in which the credit

credit

Line 7

is first allowed, the unused credit may be

carried forward for up to five tax years.

This line applies only if you own an

interest in a partnership, S corporation, or

General information

Specific line

other pass-through entity that qualified

instructions

for the historic property preservation or

Eligibility

renovation tax credit. Enter on this line

A tax credit is allowed to a taxpayer for

your share of the tax credit shown on the

Note: Pass-through entity owner

income tax purposes (under N.D.C.C.

Renaissance Zone Pass-Through Member

If you own an interest in a partnership, S

ch. 57-38) or financial institution tax

Notice that you received from the pass-

corporation, or other pass-through entity,

purposes (under N.D.C.C. ch. 57-35.3) for

Pass-through

through entity. See

and you are completing Schedule RZ only

preserving or renovating historic property,

entity

on page 2 for more information.

to claim your share of the historic property

provided the preservation or renovation

preservation or renovation tax credit

Attach a copy of the Renaissance Zone

work is approved as a zone project.

passed through to you by the entity, skip

Pass-Through Member Notice to your

lines 1 through 6 and complete lines 7

Historical property. Historic property

North Dakota tax return.

Pass-through entity

through 11. See

means property that the North Dakota

owner

on page 3 for more information.

Historical Society certifies to be:

Log - Schedule Rz Instructions Renaissance Zone Act Exemptions And Tax Credits - North Dakota Office Of State Tax Commissioner - 2003 Page 12

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