Tag Archives: income tax

Senate To Vote On $350 Million In Income Tax Cuts, $250 Million More Likely To Pass

Senate To Vote On $350 Million In Income Tax Cuts, $250 Million More Likely To Pass

“We are bringing 1250 up to the floor for a vote,” a state Senator told me this morning. That’s the income tax cuts introduced by Rep. Craig Headland which, when passed in the House, totaled over $500 million in reductions for individuals, corporations and financial institutions. When the Senate got a hold of the bill,

Guest Post: Legislature Leaves North Dakotans Behind On Tax Relief Again

With 10 days left until the legislature must meet its 80 day constitutional limit, efforts to figure out how to balance the budget have hit what can only be described as a ridiculous point. Prior to the halfway point of the current legislative session, HB 1250 passed the House almost unanimously (the vote was 92-1).

Shocker: Senate Strips $375 Million Out Income Tax Cuts Passed By The House

About the only bright spot for tax relief this legislative session was a half-billion dollar package of corporate and personal income taxes passed by the House. Unfortunately, and as expected, the state Senate has watered those tax cuts down to the paltry $125 million in cuts proposed in Governor Jack Dalrymple’s executive budget. And Senate

Video: What Kind Of Tax Relief Will North Dakotans Get?

Chris Berg was kind enough to have me on his 6:30 Point of View show on Valley News Live this evening to talk about the sort of tax relief that may be coming out of the legislative session, and also what sort of funding may be going to oil-impacted counties in the western part of

Why In The World Is The State Of North Dakota Raising Taxes?

The State of North Dakota’s financial situation is the envy of the nation. According to the most recent revenue report from the Office of Management and Budget, total state revenues biennium to date are running 64.7% above last biennium. To put that in numbers, the state has collected $1.6 billion more in taxes so far

Senate Appropriations Committee Poised To Chop $376 Million Out Of House Income Tax Relief

Earlier this session the North Dakota House passed HB1250, introduced by Rep. Craig Headland, which represented over a half-billion in tax relief. Here’s what that bill does, as passed by the House on a nearly unanimous vote: The financial institutions tax rate goes from 6.5% to 6%. That’s a $2.4 million cut. The number of

Oil Tax Cuts Fall Flat In North Dakota House

With no debate, outside of bill carrier Rep. Craig Headland explaining his committee’s “do not pass” recommendation for the bill, the most controversial tax bill before this legislature fell flat on its face in the state House today. The vote was 6-87. Taxes, I think most would agree, ought to be fair. Meaning they ought

Amendment To Let State Of North Dakota Write Checks To Individuals Fails

It’s a bit ironic that HCR3036 failed today. The constitutional amendment, introduced by Rep. Vicki Steiner, would add to the Article X Section 18 state constitution the following language allowing the state government to cut checks directly to individuals. The legislative assembly may provide by law for direct general allocations of state funds to North

Math-Challenged Democrats Call Republican Oil Tax Bill "Radical And Reckless" Based On Fraudulent Numbers

Because they apparently didn’t get a number that was shocking enough the first time they were grandstanding on this issue, North Dakota Democrats re-calculated the numbers (which in and of itself inspires no small amount of skepticism, their original figure was $596 million) and concluded that a Republican plan to restructure the state’s oil taxes

North Dakota Tax Revenues Up 64% Over Last Biennium

The latest revenue report from the Office of Management and Budget is below, showing actual revenues to date compared to last biennium and to the legislative forecast. Tax revenues have exceeded the legislative forecast by 41.5% biennium to date, and exceed revenues from last biennium by 64.6%. The largest percentage increase in revenues over last

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