A corporation doing business in North Dakota for the first time may take an income tax credit equal to:

• 1% of wages and salaries paid during the tax year for each of the first three years of operating, and
• 0.5% of wages and salaries paid during the tax year for the fourth and fifth years.

Qualifying

A corporation qualifies for the credit if it:

• Is engaged in assembling, fabricating, manufacturing, mixing, or processing of an agricultural, mineral, or manufactured product
• Did not receive a property or income tax exemption
• Was not created from reorganization or acquisition of an existing North Dakota business.