Tag Archives: personal income

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

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

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

Guest Post: Legislature Doing Big Things For North Dakota

The 2013 North Dakota Legislative Session has reached the half way point known as crossover. That is the point where legislation that has passed the House and the Senate crosses over to be considered by the other legislative body. Predictably, the first half has been like watching sausage be made. There are lots of options

North Dakota House Passes A Half Billion In Income Tax Cuts Almost Unanimously

After much floor debate, and procedural maneuvering by Assistant Minority Leader Corey Mock to set up a separate vote on the corporate taxes, Rep. Craig Headland’s proposed income tax cuts (HB1250) have passed. Here’s what the bill does: The financial institutions tax rate goes from 6.5% to 6%. That’s a $2.4 million cut. The number

If You Raise Taxes On Rich People And Businesses, You Get Fewer Rich People And Businesses

After Phil Mickelson created controversy with his comments about too-high taxes, professional boxer Manny Pacquiao is refusing to fight in the United States because of our national tax rate. This is what happens when tax rates are prohibitively high. People take their business, and their wealth, to friendly tax climates: Manny Pacquiao’s chief adviser insisted

Grand Forks Herald: Tax Cuts Are A "Libertarian Extreme"

It seems the editorial page at the Grand Forks Herald has become more and more shrill in its denunciations of limited government ideals. Though the Herald has always been to the left of the average North Dakota voter, normally the editorials can be counted to be above the sort of name-calling and invective displayed in

The Case For Eliminating North Dakota's Income Tax

In an article about push by Republican governors and legislators around the nation to reduce, and even eliminate, income taxes the Wall Street Journal cites a remarkable statistic: A new analysis by economist Art Laffer for the American Legislative Exchange Council finds that, from 2002 to 2012, 62% of the three million net new jobs

Shocker: North Dakota Chamber Of Commerce Against Tax Relief

Yesterday Rep. Scott Louser’s (R-Minot) idea to suspend the state’s personal income tax for two years got a committee hearing at the legislature. And who was their to testify against it? Our friends from the North Dakota Chamber of Commerce who, despite being an allegedly business-friendly lobbying group, can’t ever seem to find any actual

A Grand Idea For North Dakota's Legacy Fund

One of the chores North Dakota’s leaders are tasked with is what to do with the state’s Legacy Fund. Per a constitutional amendment approved by voters in 2010, since June of 2011 30% of the state’s oil/gas production/extraction taxes have been deposited in the fund. The fund’s balance has soared past $700,000,000, putting it on

Interview: ND State Rep. Proposes Two Year Suspension Of The State Income Tax

If there are two to priorities for the legislature, in the eyes of the general public, it is addressing needs created by the state’s fast-growing economy and population and using some of the state’s revenue windfall for tax relief. To that latter point, there are a number of proposals on the table for tax relief.

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