• All Single member LLC’s (even if filing Schedule C), multi-member LLC’s, S corporations and C Corporations must disclose beneficial ownership:
    • Within 90 days of formation of a new business in 2024; or
    • By December 31, 2024 for companies that were in existence before 2024.
  • Beneficial owner information includes full legal name, date of birth, residential street address and passport or driver’s license image (picture). A beneficial owner is an individual owning 25% or more of the entity, as well as officers, board members and non-owner managers.
  • Ownership and address changes will have to be reported within 30 days of occurrence.
  • Penalties for non-compliance are $500 per day and up to 2 years in prison (felony).

  • Homestead Property Tax Credit
    • Must be 65 or older or disabled
    • Must have income less than $70,000 (significant reduction in taxes with income below $40,000)
    • Application available online at tax.nd.gov or with your county office
  • Primary Residence Credit
    • Available to anyone who owns their home in ND and lives in it as their primary residence
    • $500 tax credit off next year’s property taxes
    • File between 1/1/24 and 3/31/24
    • File online at tax.nd.gov/prc

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