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North Dakota Office of State Tax Commissioner

2003 Schedule RZ instructions

Lines 10a through 10h

shareholder, the exemption amount

•

You sold the zone project property,

Zone apportionment factor

must be recalculated using the amount

terminated the lease on the zone project

(business income only)

from Form 60, page 1, line 7, reduced

property, or permanently withdrew the

If all of your business real property in

by net allocable income or increased

zone project property from use in your

North Dakota is located at your zone

by a net allocable loss.

business during the tax year.

project location, skip lines 10a through 10g

•

Partnership—

If you are a partnership

•

The maximum 60-month exemption

and enter 1.000000 on line 10h. Then go to

filing North Dakota Form 58, and the

period allowed for the zone project

line 11.

partnership conducts 100 percent of its

property expired during the tax year, and

If only a portion of your business real

business in North Dakota or is owned

the 60th month is a month other than the

property in North Dakota is located at your

by only full-year North Dakota

last month of the tax year.

zone project location, you must complete

residents, enter the amount from your

If any of the above conditions apply, you

lines 10a through 10g to calculate the zone

2003 Form 58, page 1, line 7.

must complete lines 12a through 12c to

apportionment factor to enter on line 10h.

If the partnership conducts its business

calculate an exemption period eligibility

The instructions for lines 10a through 10g

both within and without North Dakota,

factor. Enter on line 12a the smaller of the

are on page 13 of these instructions.

and its partners include full-year

following:

For purposes of determining whether or not

nonresidents or part-year residents of

•

Number of months in the 60-month

the zone apportionment factor applies, real

North Dakota, enter the amount from

exemption period available to you as of

property includes leaseholds, i.e., real

your 2003 Form 58, page 1, line 11. See

the beginning of the tax year.

property that you are leasing and using in

note below for full-year resident

•

Number of months you owned or leased

your business.

partners.

the zone project property during the tax

Note: For purposes of determining the

Lines 12a through 12c

year. If you acquired the zone project

amount of the exemption that passes

Exemption period limitation

property during the tax year, include the

through to the partners, the amount of

(business income only)

month of acquisition. If you disposed

the exemption resulting from using the

of the zone project property during the

Full-year eligibility. If you are eligible

amount from Form 58, page 1, line 11

tax year, exclude the month of

for the exemption for your entire tax year,

applies only to the full-year

disposition.

skip lines 12a and 12b, and enter 1.000000

nonresident and part-year resident

•

Number of months the zone project

on line 12c. Then go to line 13. You are

partners. For the full-year resident

eligible for the exemption for your entire

property was used in your business

partner, the exemption amount must be

tax year if all of the following apply:

during the tax year. If you put the zone

recalculated using the amount from

•

project property into use in the business

You were eligible for the business

Form 58, page 1, line 7, reduced by net

during the tax year, include the month

income exemption as of the beginning

allocable income or increased by a net

in which the zone project property was

of your tax year.

allocable loss.

first put into use in the business. If you

For information on when the exemption

•

Financial institution—

If you are a

removed the zone project property from

Five-

period begins and ends, see

financial institution filing North Dakota

use in the business during the tax year,

year exemption period

on page 4.

Form 35, enter the amount from your

exclude the month in which the zone

•

You used the zone project property in

2003 Form 35, page 1, line 6 less line 9.

project was permanently removed from

your business for your entire tax year.

use in the business.

•

Fiduciary—

If you are a fiduciary filing

•

The 60-month exemption period did not

North Dakota Form 38, and you are

Line 14

expire during your tax year. This

operating a business as a sole

condition is satisfied if the 60th month

This line applies only if you own an

proprietorship, enter the net income

of the exemption period falls in the last

interest in a partnership, S corporation, or

from the Schedule C or Schedule C-EZ

month of your tax year or later.

other pass-through entity that qualified for

(Form 1040) that you attached to your

the business or investment income

Partial year eligibility. You are eligible

2003 Federal Form 1041. If you have a

exemption. Enter on this line your share of

for the business income exemption for

net loss, enter zero.

the exemption shown on the Renaissance

only part of your tax year if any of the

Note: For a nonresident estate or trust,

Zone Pass-Through Member Notice that

following apply:

enter only that portion of the net

you received from the pass-through entity.

•

You became eligible for the business

income from Schedule C or

Pass-through entity

See

on page 2 for

income exemption during the tax year in

Schedule C-EZ (Form 1040) that is

more information.

a month other than the first month of

attributable to North Dakota.

Attach a copy of the Renaissance Zone

the tax year.

Pass-Through Member Notice to your

For information on when the exemption

North Dakota tax return.

Five-year

period begins and ends, see

exemption period

on page 4.

Log - Schedule Rz Instructions Renaissance Zone Act Exemptions And Tax Credits - North Dakota Office Of State Tax Commissioner - 2003 Page 8

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