Connect with us

North Dakota

Letter: A tax cut that fueled North Dakota’s Main Street

Published

on

Letter: A tax cut that fueled North Dakota’s Main Street


North Dakota has long been defined by its resilience and economic self-sufficiency, thanks to the vast network of small businesses. From the family farms to the local oil service companies, small businesses are the true economic engines of the state. A new law that cemented permanency of the 20% Small Business Deduction and other pro- small business tax relief is a critical victory for the heart of North Dakota’s economy, and it is a testament to the advocacy of leaders like Rep. Julie Fedorchak and Sens. John Hoeven and Kevin Cramer.

Of North Dakota businesses, 98.8% are small businesses. They employ over 57% of our state’s workforce, providing the jobs and services that sustain our communities. Many of these businesses are pass-through entities, where the profits of the business are taxed as personal income for the owner. Before Congress’ action, a massive tax hike loomed for over 33 million small business owners at the end of 2025. Making the 20% deduction permanent eliminated this threat, providing long-term certainty and stability for North Dakotan business owners.

Making this deduction permanent has been NFIB’s top federal legislative priority for nearly a decade. A study by EY shows exactly why this deduction is so critical for small businesses and the economy. The study found that the deduction will increase North Dakota’s economic activity by $226 million annually, resulting in the creation of 4,000 jobs each year.

This tax relief extends far beyond a single deduction. The legislation also made permanent marginal tax rate cuts first passed in the 2017 Tax Cuts and Jobs Act, preventing what could have been up to a 4% tax increase. Lower marginal rates free up business income that can be used for hiring, wages and benefits, expanding operations, and upgrading equipment.

Advertisement

Additionally, the tax law provides relief through other vital pro-small business provisions. The increases to the Section 179 expensing cap and Section 168(k) bonus depreciation are particularly significant for a state like North Dakota. Our economy relies heavily on capital-intensive industries like agriculture and energy. For a farmer needing to purchase a new combine or an oil company buying a drilling rig, these expensing provisions allow them to deduct the cost of major purchases.

The new law also addresses the burdensome administrative side of business. By increasing reporting thresholds for forms 1099-K, 1099-NEC, and 1099-MISC small businesses gain much-needed relief from time-consuming paperwork related to independent contractors or digital payment systems. This reduces the time and resources small business owners must spend on compliance, allowing them to focus on growing their business and investing in their communities.

In the end, this law is more than a collection of tax code changes – it’s a pro-small business vote in support of North Dakota’s entrepreneurial spirit. For a state where self- reliance is a point of pride, providing tax certainty and reducing regulatory burdens is the most meaningful support a legislator can offer.

Fedorchak’s experience and dedication to these issues ensure that North Dakota’s small business community will have a voice that truly understands its needs, securing a prosperous future for our Main Streets for years to come.

North Dakota small businesses are grateful for the leadership of Fedorchak, Hoeven and Cramer. NFIB looks forward to building on this massive victory to make it easier for small businesses to grow and flourish.

Advertisement

Don Larson is the North Dakota state director for the National Federation of Independent Business.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

North Dakota

Greenpeace seeks new trial in $345M Dakota Access Pipeline lawsuit

Published

on

Greenpeace seeks new trial in 5M Dakota Access Pipeline lawsuit


play

Advertisement
  • Greenpeace is asking for a new trial after a judge entered a $345 million judgment in a lawsuit brought by the developer of the Dakota Access Pipeline.
  • A jury found the environmental group at fault for inciting illegal acts against Energy Transfer during protests in North Dakota in 2016 and 2017.
  • Greenpeace claims there were errors in the jury instructions and verdict form, and that Energy Transfer presented unfair and irrelevant evidence, among other things.

Greenpeace has asked for a second trial after a judge entered a $345 million judgment against the organization in a landmark case brought by the developer of the Dakota Access Pipeline.

The case “threatens to result in one of the largest miscarriages of justice in North Dakota’s history,” attorneys for the environmental group wrote in a brief filed last week.

After a three-week trial roughly a year ago, a Morton County jury directed Greenpeace to pay Energy Transfer about $667 million, finding the environmental group at fault for inciting illegal acts against the company during anti-pipeline protests in North Dakota in 2016 and 2017 and for publishing false statements that harmed Energy Transfer’s reputation. 

Greenpeace denies Energy Transfer’s claims and maintains that it brought the lawsuit to hurt the environmental movement.

Southwest Judicial District Judge James Gion in October slashed the jury’s award to $345 million, though he didn’t finalize the award until late February.

Advertisement

Greenpeace is now taking steps to fight the judgment, which includes its motion for a new trial.

The environmental group’s reasons for the request include claims that the jury instructions and verdict form contained errors, and that Energy Transfer was allowed to present unfair and  irrelevant evidence to jurors. The group also alleges the jury pool was biased.

Greenpeace says the jury’s award assumes that Greenpeace was entirely responsible for any injury Energy Transfer sustained related to the protests. Jurors were not given the opportunity to consider whether Greenpeace was only at fault for a portion of the damages, the organization wrote in its brief.

Advertisement

Attorneys for Greenpeace also referenced the mailers and other media circulated to Mandan and Bismarck residents before the trial that contained anti-Dakota Access Pipeline protest and pro-energy industry content. 

The environmental group seeks a new trial in Cass County, arguing in part that the jury pool in the Fargo area would be more fair because its residents did not directly experience the Dakota Access Pipeline protests and because the local economy is less dependent on the energy industry.

If Greenpeace’s request for a new trial is denied, it plans to appeal the case to the North Dakota Supreme Court, the organization has said.

Advertisement

Greenpeace previously asked for the trial to be moved from Morton County to Cass County in early 2025, which Gion and the North Dakota Supreme Court denied. 

The lawsuit is against three separate Greenpeace organizations — Greenpeace USA, Greenpeace International and Greenpeace Fund.

Energy Transfer as of Wednesday morning had not submitted a response to Greenpeace’s motion for a new trial. Previously, the company has defended the jury’s verdict and disputed Greenpeace’s claims that the court proceedings were not fair.

Energy Transfer has indicated it may appeal Gion’s decision to reduce the award to $345 million.

Greenpeace will not have to pay any of the $345 million judgment for at least a couple of months, Gion ruled Tuesday.

Advertisement

Court documents indicate that the organization could have to pay a bond of up to $25 million while appeals proceed, though the environmental group has asked the judge to waive or reduce this amount. Gion has not decided on this motion.

He noted that obtaining such a large bond will be challenging.

“The magnitude of this matter defies simple decisions,” Gion wrote.

Energy Transfer in court filings urged the judge to require Greenpeace to post the full $25 million.

Any bond money Greenpeace provides would be held by a third party while the appeals proceed, according to Greenpeace USA.

Advertisement

Greenpeace International has filed a separate lawsuit in the Netherlands that accuses Energy Transfer of weaponizing the U.S. legal system against the environmental group. Energy Transfer asked Gion to order that the overseas suit be paused while the North Dakota case is still active, which Gion denied. The company appealed his ruling to the North Dakota Supreme Court, which has yet to make a decision on the matter.

North Dakota Monitor is part of States Newsroom, the nation’s largest state-focused nonprofit news organization.



Source link

Continue Reading

North Dakota

Caution urged for drivers in North Dakota due to drifting snow

Published

on

Caution urged for drivers in North Dakota due to drifting snow


BISMARCK, ND (KXNET) — Drivers in parts North Dakota are being urged to use caution as drifting snow continues to impact road conditions.

According to the National Weather Service, strong northwest winds are creating areas of blowing and drifting snow.

That snow is sticking to previously plowed roadways, leading to slick and potentially hazardous travel conditions.

The advisory includes Burleigh County, Emmons County, Kidder County, Logan County, and McIntosh County.

Advertisement



Source link

Continue Reading

North Dakota

US scientists sequence 1,000 genomes from measles, a disease long eliminated with vaccines

Published

on

US scientists sequence 1,000 genomes from measles, a disease long eliminated with vaccines


This week, the Centers for Disease Control and Prevention posted online its first large tranche of advanced genetic data from measles viruses spreading last year. Scientists with knowledge of the operation expect the agency to post heaps more in weeks to come, revealing whether the U.S. has lost its hard-won measles elimination status. The CDC […]



Source link

Continue Reading

Trending