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Thursday, November 14, 2024

Lower individual income tax revenue in North Dakota during Q4 2023

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Brian Kroshus Tax Commissioner | North Dakota Office of State Tax Commissioner

Brian Kroshus Tax Commissioner | North Dakota Office of State Tax Commissioner

North Dakota collected $61 million in individual income taxes during the fourth quarter of 2023, a 50% decrease from the third quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

The previous quarter's individual income tax revenue was $122 million.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest, and income from intangibles.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Overall, North Dakota collected $1.6 billion in combined tax revenues in the fourth quarter of 2023, an increase from the $1.5 billion collected in the previous quarter.

Q4 2023 North Dakota Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$585
Individual Income Taxes$61
Corporation Net Income Taxes$34
License Taxes$63
Other Taxes$889
Source: U.S. Census Bureau

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