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ND HB1535
Bill
Status
1/14/2019
Primary Sponsor
Kim Koppelman
Click for details
AI Summary
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Changes North Dakota individual, estate, and trust income tax from a progressive multi-bracket system to a flat tax rate of 2% on North Dakota taxable income.
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Replaces existing graduated rate schedules (ranging from 1.10% to 2.90%) with a single 2% flat rate applied uniformly across all income levels and filing statuses.
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Maintains all existing tax deductions, adjustments, and credits available under current law, including capital gains exclusions, qualified dividend reductions, and various business/education incentives.
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Increases standard deductions: single filers to $18,725 (from $18,725), married filing jointly to $37,450, and estates/trusts to $1,250, with provisions for annual cost-of-living adjustments.
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Effective for taxable years beginning after December 31, 2018.
Legislative Description
Replacement of the individual, estate, and trust income tax rate schedule with a flat-rate income tax; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 30 nays 62
2/14/2019