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These situations can also be referred to as bona vacantia or simply unclaimed property. The concept of escheat maintains that property always has a recognized owner, which would be the state or federal governments if no other claimants to ownership exist or are readily identified.
What You'll Need to Do to Transfer your Vehicle Title in North Dakota Visit any DMV office near you. Consider making a DMV appointment or getting a line waiting concierge. Submit the required documents, your application, and pay for the title fee.
North Dakota currently holds more than $132 Million in unclaimed property. Unclaimed property is any kind of property, excluding real estate or anything with a property title, that is separated from the owner for a specified number of years (typically 3 years) and then remitted to the state as unclaimed.
Indiana Dormancy Periods Generally, most property types have a three-year dormancy period. Accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property type.
Sales Tax Exemptions Agricultural Commodity Processing Plant Construction Materials. Carbon Dioxide for Enhanced Recovery of Oil and Gas or Secure Geological Storage. Coal Gasification Byproducts. Coal Mine Machinery or Equipment. Computer and Telecommunications Equipment. Data Centers. Electrical Generating Facilities.
Please call our office (701-328-2800) for DTC instructions. Regardless of amounts, report any and all types of property that you are holding for an owner who has not claimed or shown an interest in the property for the periods set out below.
Utility deposits and refunds, wages and government obligations have a one-year dormancy period. Securities, retail related properties, tax-deferred compensation and retirement account properties have a three-year dormancy period. Accounts payable and most other general obligations have a five-year dormancy period.
Permit Requirements The small seller exception requires sales tax collection by remote sellers only if their taxable sales into the state within a calendar year 1) meet or exceed $100,000 or 2) meet or exceed 200 separate transactions. More information on remote sellers can be found at .tax.nd.gov/remoteseller.