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ND HB1189
Bill
Status
Engrossed
2/16/2011
Primary Sponsor
Dave Weiler
Click for details
AI Summary
- Eliminates North Dakota corporate income tax on the first $75,000 of taxable income (previously taxed at 2.1%)
- Reduces tax rate on taxable income between $75,000 and $50,000 from 5.25% to 4.9%
- Maintains 6.4% tax rate on all taxable income exceeding $50,000
- Preserves alternative minimum tax credit carryover provisions for corporations that paid such tax before January 1, 1991, allowing carryover for up to four taxable years
- Effective for taxable years beginning after December 31, 2010
Legislative Description
Corporate income tax rates; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 0 nays 46
3/30/2011
Committee Referrals
Finance and Taxation1/7/2011
Full Bill Text
No bill text available