{"data":{"id":"us-nd/n.d.-cent.-code-57-38.5-01","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 57-38.5-01","heading":"Definitions","body":"As used in this chapter, unless the context otherwise requires:\n1.\"Director\" means the director of the department of commerce division of economic development and finance.\n2.\"Passthrough entity\" has the same meaning as in section 57-38-01.\n3.\"Primary sector business\" has the meaning provided in section 1-01-49 but does not include an agricultural commodity processing facility as defined under section 57-38.6-01.\n4.\"Qualified business\" means a business other than a real estate investment trust which is a primary sector business that:\na.Is incorporated or its satellite operation is incorporated as a for-profit corporation, passthrough entity, or joint venture;\nb.Is in compliance with the requirements for filings with the insurance commissioner under the securities laws of this state;\nc.Has North Dakota residents as a majority of its employees in the North Dakota principal office or the North Dakota satellite operation;\nd.Has its principal office in this state and has the majority of its business activity performed in this state, except sales activity, or has a significant operation in North Dakota that has or is projected to have more than ten employees or one hundred fifty thousand dollars of sales annually; and\ne.Relies on innovation, research, or the development of new products and processes in its plans for growth and profitability.\n5.\"Taxpayer\" means an individual, estate, or trust or a corporation, passthrough entity, or an angel fund. The term does not include a real estate investment trust.","path":["Title 57 Taxation","Chapter 57-38.5 Seed Capital Investment Tax Credit"],"source_url":"https://ndlegis.gov/cencode/t57c38-5.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"327c3db7d79c5d2798cab4a9181cc1cf4036ab9bdfc06f2213d0cbffb51ca93b","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-57-38.4-04","next":"us-nd/n.d.-cent.-code-57-38.5-02"},"notice":"GroundRules: Original legal text. Not legal advice."}