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North Dakota REV-E-NEWS
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North Dakota REV-E-NEWS
North Dakota REV-E-NEWS January 2018
BISMARCK, ND 58505-0400
600 EAST BOULEVARD AVE — DEPT. 110
OFFICE OF MANAGEMENT AND BUDGET
http://www.nd.gov/omb
Forecast) Corporate income tax
collections of $16.1 million were
December 2017 revenues totaled $6.7 million, or 71.0 percent
$146.4 million, which is $21.9 million, above forecast due to higher than
or 17.6 percent above forecast. expected estimated payments.
Biennium-to-date revenues of $1.29 Biennium-to-date collections of
billion are $27.5 million, or 2.2 $22.9 million are $7.6 million, or
percent, more than projected. When 50.2 percent higher than forecast
transfers from major special funds and $5.2 million, or 29.2 percent
are excluded, 2017-19 revenues to more than the same time period
date are tracking 11.3 percent behind in the 2015-17 biennium.
the same time period in the 2015-17
biennium. Significant monthly
Insurance premium tax
collections totaling $2.0 million
variances are as follows:
were $3.3 million, or 62.6
Sales tax collections of $51.9 percent, below the monthly
million were $12.6 million, or 32.1 projection, due to lower than
percent, higher than anticipated anticipated payments. Biennium
for the month. Biennium-to-date to date collections are $652,085,
revenues are $20.0 million, or 5.0 or 3.2 percent, lower than
percent, higher than forecast. In forecast and $2.2 million, or 12.4
a year over year comparison, percent, more than the same
biennium-to-date revenues are time period in the 2015-17
$101.5 million, or 19.5 percent, biennium.
less than the same six month
time period in Fiscal Year 2016
Oil and gas taxes were $11.1
million higher than the monthly
but are $966,355, or 0.2 percent,
forecast. However, for purposes
more than the same six month
of this report, oil tax forecast
time period in Fiscal Year 2017.
amounts are shown as being
Individual income tax equal to actual collections. For
collections of $14.0 million were the biennium in total, the general
$6.4 million, or 85.2 percent fund share of oil taxes is limited
above forecast, due to higher to no more than $400.0 million.
than expected estimated Monthly variances affect the time
payments and withholding. frame during which the general
Biennium-to-date collections of fund receives its share of oil
$143.8 million are $2.1 million, or taxes, but does not impact the
1.5 percent lower than forecast total biennial collections.
and $16.1 million, or 10.1
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