Income and property tax incentives are available to taxpayers for engaging in qualifying zone projects. A zone project generally consists of a purchase, lease, or improvement to real estate located in the zone. A renaissance zone is a designated area within a city that is approved by the North Dakota Department of Commerce Division of Community Services.
Qualifications
A zone project generally consists of a purchase, lease, or improvement to real estate located in the zone. A renaissance zone is a designated area within a city that is approved by the Department of Commerce Division of Community Services.
Credit Amounts
The amount of income that may be exempted is dependent on whether the zone project property is used for business or investment purposes. The property is considered used for business purposes if it is used in an occupation, trade, profession, or commercial or mercantile enterprise. Property is used for investment purposes if the property is not part of or used in the regular course of any trade or business of the taxpayer. Unless a taxpayer can show otherwise, any property that is purchased, leased, or rehabilitated by a passthrough entity will be presumed to be used for business purposes.
Application Process
To apply for a Renaissance Zone, a city must first have a locally adopted comprehensive or strategic plan in place and then create a development plan. Please submit your information using the form below, and we will get in touch with you shortly. For more information regarding the Renaissance Zone application process, please visit the North Dakota Department of Commerce Renaissance Zone page.
How to Claim
If you're filing as a/an: | Claim the credit on: |
| Individual or Sole Proprietor | Schedule RZ, Renaissance Zone Income Exemption and Tax Credits |
| C Corporation | Form 40, Corporation Income Tax Return Schedule RZ |
| S Corporation | Form 60, S Corporation Income Tax Return Schedule RZ |
| Partnership | Form 58, Partnership Income Tax Return Schedule RZ |
| Fiduciary | Form 38, Fiduciary Income Tax Return Schedule RZ |