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

North Dakota Ofﬁ ce of State Tax Commissioner

2011 Schedule RZ instructions

Speciﬁ c line

If a taxpayer makes a disqualifying

If the taxpayer is a passthrough entity,

redemption, the taxpayer must contact

enter the total amount from line 6, and

instructions

the Ofﬁ ce of State Tax Commissioner

skip line 8. Except for passthrough

for instructions on how to report the

entities, attach a statement showing

Note: Passthrough entity owner

redemption on the North Dakota tax

how the amount entered on this line was

If the taxpayer owns an interest in a

return.

determined.

passthrough entity, and the taxpayer is

completing Schedule RZ only to claim the

Speciﬁ c line

Line 8

taxpayer’s share of the nonparticipating

Carryforward to 2012

instructions

property owner credit passed through to the

If the total available tax credit on line 6

taxpayer by the entity, enter the taxpayer’s

exceeds the amount on line 7, enter on

Note: Passthrough entity owner

name and applicable identiﬁ cation number

this line the portion of the excess that is

If the taxpayer owns an interest in a

at the top of page 4 of Schedule RZ. Enter

eligible for carryover to the 2012 tax year.

passthrough entity, and the taxpayer is

the credit amount from North Dakota

Except for passthrough entites, attach

completing Schedule RZ only to claim the

Schedule K-1 on line 6 of Part 6. Do

a statement showing how the amount

taxpayer’s share of the renaissance fund

not make an entry on lines 1 through 5.

entered on this line was determined.

organization investment tax credit passed

Complete lines 7 through 9. Complete Part

through to the taxpayer by the entity,

7 as instructed. Attach Schedule RZ and a

enter the taxpayer’s name and applicable

copy of North Dakota Schedule K-1 to the

Instructions for

Passthrough entity owner

identiﬁ cation number at the top of page 3

return. See

of Schedule RZ. Enter the credit amount

on page 2 for more information.

Part 6

from North Dakota Schedule K-1 on

Line 1

line 4 of Part 5. Do not make an entry

Nonparticipating

Enter the project number assigned to the

on lines 1 through 3. Complete lines 5

zone project by the local zone authority, as

through 8. Complete Part 7 as instructed.

property owner

shown on the ﬁ nal zone project approval

Attach Schedule RZ and a copy of North

letter. If the taxpayer does not have a

Dakota Schedule K-1 to the return. See

credit

copy of the ﬁ nal zone project approval

Passthrough entity owner

on page 2 for

letter, contact the local zone authority to

more information.

obtain one. Attach a copy of the ﬁ nal

Line 1

zone project approval letter to the North

General instructions

Dakota return.

Enter the name of the renaissance zone city

Who should complete

having the renaissance fund organization in

Line 2

which the taxpayer made the investment.

Complete Part 6 if the incentive allowed

Enter the name of the renaissance zone city

This city will be identiﬁ ed on the North

for the zone project, as speciﬁ ed in

where the zone project is located.

Dakota Renaissance Fund Organization

the zone project approval letter, is the

Investment Reporting Form received from

nonparticipating property owner credit.

Line 3

the renaissance fund organization.

This credit may be claimed on the

Enter the street address of the

following forms:

nonparticipating property owner’s project

Line 4

property. Include the apartment, suite, or

Enter the RFO investment tax credit

In the case

other unit number, if applicable. Do not

from North Dakota Schedule K-1. See

of a(n):

Form

enter a post ofﬁ ce box number.

Passthrough entity

on page 1 for more

Individual

Form ND-1

information. Attach a copy of the North

Estate or trust

Line 4

Dakota Schedule K-1.

C corporation

If the taxpayer qualiﬁ ed for more than one

Financial institution

zone project at the same street address,

Line 7

Current year credit

check the “Yes” box and write the project

If the taxpayer is a passthrough entity, see

Passthrough entity

numbers for all of them on the line

on page 1.

Enter on this line the portion of the total

provided on the schedule.

available tax credit (on line 6) that is being

When to claim credit

used to reduce the 2011 tax liability. If

Line 6

there is a tax credit carryforward from a

The ﬁ rst year this tax credit must be

Enter the nonparticipating property owner

prior tax year (on line 5), use the credits in

claimed is the tax year in which the related

credit from North Dakota Schedule K-1.

the order that is most beneﬁ cial.

zone project is completed, as speciﬁ ed in

Passthrough entity

See

on page 1 for

the ﬁ nal zone project approval letter issued

more information. Attach a copy of the

to the nonparticipating property owner. If

North Dakota Schedule K-1.

the entire credit cannot be used in the tax

year in which it is ﬁ rst claimed, the unused

credit may be carried over for up to ﬁ ve

tax years.

Schedule Rz - Booklet - Renaissance Zone Act Exemptions And Tax Credits - 2011 Page 12

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