North Dakota
North Dakota tax collections running ahead of forecast
Tax collections in North Dakota continue to outpace the revenue forecasts.
“They are 14 percent, or $51 million, ahead of budget in April,” said State Office of Management and Budget director Susan Sisk. “Biennium to date, they’re 12 percent ahead of budget, or $264 million.”
Sisk said virtually every tax type is ahead of forecast – with the exception of individual income tax, with collections running slightly behind forecast.
“However, we have not yet finished our first tax season since the tax rate changes,” Sisk said. The 2023 Legislative session lowered taxes for many North Dakota filers.
“We still have processing to do,” Sisk said. “Once the dust settles, we’ll have a better idea on how close we are to forecast.”
Sisk said she expects going forward, collections will run much closer to forecast.
For the overall revenue picture and forecast, Sisk said there is stll a lot of risk around oil production and prices.
“Certainly, in a year with a presidential election, there is risk,” Sisk said. “We’re also waiting on the decision on the Dakota Access Pipeline. And everything going on overseas — it’s hard to say right now.”
Sisk said OMB puts together a budget forecast that she calls “reasonable but conservative.”
BISMARCK, N.D. (KFYR) – Former President Donald Trump’s supporters showed their loyalty in a series of events around Bismarck on Saturday.
The events started with a Trump Rally on the North Dakota State Capitol grounds, featuring guest speakers showing their support through their speeches. The rally also had refreshments.
The second event was hosted at the Fox Island Boat Ramp, where former President Trump’s supporters could get together and spend a day on their boats, waving their flags.
Copyright 2024 KFYR. All rights reserved.
(Bismarck, ND) — State regulators continue to monitor a pair of oil spills reported last week in northwest North Dakota.
Sources with the North Dakota Oil and Gas Division say little under 1,250 barrels of oil were released due to overflow near Johnson’s Corner in McKenzie County on Tuesday.
Contents of the spill reportedly were recovered.
Sometime later, 300 barrels of water tainted during oil and gas-extraction efforts also were released.
Authorities say that spill was cleaned up sometime later.
State inspectors continue to monitor both sites.
(Bismarck, ND) — Plans for a new interstate will bring the highway through the middle of North Dakota.
There’s no timetable for the construction of the proposed I-27 which would run from Texas to Canada.
Funds were allotted for the project by Congress in 2022.
Congressman Kelly Armstrong says giving farmers and energy producers more options to get their products to market will save on transportation costs.
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