North Dakota HB1379: A BILL for an Act to create and enact a new subdivision to subsection 1 of section 57-38-01.3 and a new subdivision to subsection 2 of section 57-38-30.3 of the North Dakota Century Code, relating to a personal and corporate income tax adjustment for capital gains from the sale of bullion; and to provide an effective date.

What the bill says

A bill for an Act to create and enact a new subdivision to subsection 1 of section 57-38-01.3 and a new subdivision to subsection 2 of section 57-38-30.3 of the North Dakota Century Code, relating to a personal and corporate income tax adjustment for capital gains from the sale of bullion; and to provide an effective date.

From the amended text, March 11, 2025:

A BILL for an Act to create and enact a new subdivision to subsection 1 of section 57-38-01.3 and a new subdivision to subsection 2 of section 57-38-30.3 of the North Dakota Century Code, relating to a personal and corporate income tax adjustment for capital gains from the sale of bullion; and to provide an effective date. BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA: SECTION 1. A new subdivision to subsection 1 of section 57-38-01.3 of the North Dakota Century Code is created and enacted as follows: Reduced by the amount of net capital gain or increased by the amount of net capital loss from the sale of gold and silver legal tender coins or bullion included in taxable income or the computation of taxable income on the federal return. For the purposes of this subdivision, "bullion" means precious metal that has been refined to a purity of not less than nine hundred ninety - nine parts per one thousand and is in such form or condition that its value depends on its precious metal content and not its form. SECTION 2. A new subdivision to subsection 2 of section 57-38-30.3 of the North Dakota Century Code is created and enacted as follows: Reduced by the amount of net capital gain or increased by the amount of …

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