25.0809.01000
Sixty-ninth
Legislative Assembly
of North Dakota
Introduced by
Representatives D. Johnston, Kasper, Louser, S. Olson, Schauer, Toman, Vetter, Vigesaa
Senator Enget
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 deduction 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 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 for the taxable year from the sale of gold
and silver legal tender coins and bullion to the extent included in federal taxable
income. The adjustment provided by this subdivision is allowed only to the extent the
net capital gain is allocated to the state. 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 3. EFFECTIVE DATE. This Act is effective for taxable years beginning after
December 31, 2024.
Page No. 1 25.0809.01000
HOUSE BILL NO. 1379
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