Friday, February 04, 2011
by Brett Narloch
North Dakota State Representative Craig Headland introduced HB1189, which would amend North Dakota's corporate income tax structure to create one bracket, leaving the first $75,000 of income untaxed and taxing anything above that threshold at 5%.
Corporate income tax collections in North Dakota have been soaring in recent years. Between the 1999-01 and 2007-09 bienniums, collections rose 142%.
According to the Tax Foundation, if HB1189 became law, only 3 states would have a lower top rate, if you only look at states that have a corporate income tax, signifying that North Dakota is open for business.