Gov. Burgum and others announce “flat tax” income tax reform proposal
Plan would eliminate income tax for many people in North Dakota
FARGO, N.D. (Valley News Live) - Gov. Doug Burgum, State Tax Commissioner Brian Kroshus, and state Republican leaders have announced a new state income tax reform proposal.
The plan would “effectively eliminate” the state’s income tax for singles who make less than $54,725 per year and married couples who make less than $95,600 combined.
Those with higher incomes would pay a 1.5% flat tax, down from 2.04% to 2.9%, under the current law.
Organizers say this plan would save taxpayers about $250 million dollars per year. No word on how they plan to make up that income, for the state, or what they would plan to cut.
This is just a proposal. They plan to officially introduce the legislation when the Assembly meets again, in January.
Copyright 2022 KVLY. All rights reserved.