Schedule Rz - Schedule For Renaissance Zone Income Exemption And Tax Credits - 2002
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2
3North Dakota Office of State Tax Commissioner
Schedule
2002
RZ
Schedule for renaissance zone income
Attach to
Form ND-1, ND-2, 35, 38,
exemption and tax credits
40, 58, or 60
Taxpayer’s name as shown on tax return
Social security number (or FEIN, if applicable)
Part 1
Business or investment income exemption
Project Number
See the instructions for Part 1 on page 3 of the booklet.
1.
Project number assigned by the local zone authority (Attach a copy of final zone project approval letter) ..............................
2.
City in which renaissance zone is located:
Bismarck
Carrington
Casselton
Fargo
Grand Forks
Jamestown
Minot
Valley City
Watford City
West Fargo
3.
Street address of project property
4.
Do you have more than one zone project at the address shown on line 3 above?
Yes
No
If you checked yes, enter all of the project numbers here
5.
Type of qualifying transaction (per final zone project approval letter):
a
b
c
d
Purchase
Purchase with major improvements
Lease
Qualified rehabilitation
/
/
6.
a
c
6
If you checked
or
on line 5 above, enter the date you took title to the property or the date the lease became effective ........
/
/
7.
If you checked
b
or
d
on line 5 above, enter the date the improvement or rehabilitation work was completed ..........................
7
/
/
8.
Exemption period start date (per final zone project approval letter)............................................................................................
8
If you qualified for this exemption because your zone project property is being used for investment
purposes—that is, it is not part of or used in any business you own—skip lines 9 through 13, and go to line 14.
9.
North Dakota business income for 2002 tax year (See page 5 of instructions for the amount to enter on this line).....................
9
Does your zone project property include 100% of your North Dakota business real property? For this purpose,
include real property that you are leasing for use in your business.
If yes, skip lines 10a through 10g, and enter 1.000000 on line 10h.
If no, see page 13 for instructions to lines 10a through 10h.
Column A
Column B
Total North Dakota
Zone project
10.
Enter the average value at original cost of each of the following
property
property only
real and tangible personal property items used in the business:
a.
Inventories ...............................................................................
10a
b.
Buildings and other fixed assets...............................................
10b
c.
10c
Depletable assets......................................................................
d.
10d
Land .........................................................................................
e.
Other assets (Attach a statement identifying these assets) .......
10e
f.
Rented property (Annual rent x 8) ...........................................
10f
g.
Total property (Add lines 10a through 10f) .............................
10g
h.
10h
Zone apportionment factor (Divide line 10g, Column B, by line 10g, Column A)...............................................................
11.
North Dakota business income attributable to zone project property (Multiply line 9 by factor on line 10h)...............................
11
Are you eligible for this exemption for all of your 2002 tax year? See page 6 of instructions.
If yes, skip lines 12a and 12b, and enter 1.000000 on line 12c.
If no, complete lines 12a and 12b. See instructions on page 6 for number of months to enter on line 12a.
12a
12. a.
Number of months you are eligible for the exemption during the 2002 tax year .................
12b
b.
Number of months in your 2002 tax year ............................................................................
c.
Exemption period eligibility factor for 2002 tax year (Divide line 12a by line 12b)...........................................................
12c
13.
Business income exemption for this project (Multiply line 11 by factor on line 12c) ..................................................................
13
14.
Income exemption from a pass-through entity (Attach copy of Renaissance Zone Pass-Through Member Notice) ....................
14
15.
Investment income exemption for this project (See page 7 of instructions) .................................................................................
15
16.
Total business or investment income exemption for 2002 tax year (Add lines 13, 14, and 15)
16
Enter the result here and on page 3, Part 6, line 1 of this schedule...............................................................................................
Attach all 3 pages of Schedule RZ to your return
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