Schedule Rz - Booklet - Renaissance Zone Act Exemptions And Tax Credits

North Dakota Ofﬁ ce of State Tax Commissioner

2011 Schedule RZ instructions

title to the residence or ﬁ rst occupied it,

Line 10

also qualiﬁ es for the tax credit with respect

whichever occurs last. If the taxpayer

Credit period limitation

to the residence, the individual acquiring

disposed of the residence during the tax

The credit is allowed for only that portion

the property is eligible for the tax credit

year, exclude the month of disposition.

for the unexpired portion of the ﬁ ve-year

of the tax year for which the taxpayer is

•

Number of months the residence was

eligible for the credit.

credit period starting with the month of

used as the primary place of residence.

acquisition.

Full-year eligibility. If the taxpayer is

Change in primary place of residence.

eligible for the tax credit for the entire tax

year, enter “12” on line 10. Then go to

If an individual who qualiﬁ es for the tax

Instructions for

line 11. This applies if all of the following

credit with respect to a single-family

residence ceases to use it as the primary

apply:

Part 4

place of residence, i.e., as the legal

•

The taxpayer is eligible for the credit

residence, during the ﬁ ve-year credit

as of the beginning of the tax year. See

Historic property

period, the individual is ineligible for the

Five-year credit period

on page 7.

tax credit starting with the ﬁ rst day of the

•

The taxpayer used the zone project

preservation or

month in which the change occurs.

property as his or her primary place of

renovation tax

residence for the entire tax year.

Speciﬁ c line

•

The 60-month credit period did not

credit

instructions

expire during the tax year. This

condition applies if the 60th month of

Line 1

the credit period falls in the last month

Enter the project number assigned to the

of the tax year or later.

General instructions

zone project by the local zone authority as

Partial-year eligibility. The taxpayer is

shown on the ﬁ nal zone project approval

Who should complete

eligible for the credit for only part of the

letter. If the taxpayer does not have a

tax year if any of the following apply:

Complete Part 4 if the incentive allowed

copy of the ﬁ nal zone project approval

•

for the zone project, as speciﬁ ed in the

The taxpayer became eligible for the

letter, contact the local zone authority to

zone project approval letter, is the historic

credit during the tax year in a month

obtain one. Attach a copy of the ﬁ nal

property preservation or renovation tax

other than the ﬁ rst month of the tax

zone project approval letter to the North

Five-year credit period

credit.

year. See

Dakota return.

page 7.

This credit may be claimed on the

•

Line 2

The taxpayer sold or otherwise disposed

following forms:

of the residence during the tax year.

Enter the name of the renaissance zone city

In the case

•

where the zone project property is located.

The taxpayer established another

of a(n):

Form

residence as his or her primary place of

Individual

ND-1

Line 3

residence during the tax year.

Estate or trust

Enter the street address of the zone project

•

The 60-month credit period expired

C corporation

property. Do not enter a post ofﬁ ce box

during the tax year, and the 60th month

Financial institution

number.

is not the last month of the tax year.

If the taxpayer is a passthrough entity, see

Line 4

Passthrough entity

on page 1.

If any of the above conditions apply,

If the taxpayer qualiﬁ ed for more than one

enter on line 10 the number of months the

zone project at the same street address,

When to claim credit

taxpayer is eligible for the credit during

check the “Yes” box and write the project

the tax year. This is the smaller of the

The ﬁ rst year this tax credit must be

numbers for all of them on the line

following:

claimed is the tax year in which the

provided on the schedule.

preservation or renovation work is

•

Number of months in the 60-month

Line 9

completed, as speciﬁ ed in the ﬁ nal zone

credit period available as of the

project approval letter. If the entire credit

Enter the ﬁ ve-year credit period start

beginning of the tax year. If the

date for the zone project as shown on the

cannot be used in the tax year in which it

60-month period began in this tax year,

is ﬁ rst claimed, the unused credit may be

ﬁ nal zone project approval letter. This

use 60 months.

date establishes the beginning of the

carried over for up to ﬁ ve tax years.

•

Number of months the taxpayer owned

ﬁ ve-year credit period that applies to the

and occupied the residence during the

zone project property. This date does not

tax year. If the taxpayer acquired the

change even if the property is transferred

residence during the tax year, include

Five-year credit

to another taxpayer. See

the month in which the taxpayer took

period

on page 7 for more information.

Schedule Rz - Booklet - Renaissance Zone Act Exemptions And Tax Credits - 2011 Page 10

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