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Wednesday, December 18, 2024

Individual income tax revenue up 90% from previous quarter in North Dakota

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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 $114 million in individual income taxes during the second quarter of 2024, a 90% increase over the first quarter, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

The previous quarter's individual income tax revenue was $60 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 $1.7 billion in combined tax revenues in the second quarter of 2024, an increase from the $1.4 billion collected in the previous quarter.

Q2 North Dakota Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$544
Individual Income Taxes$114
Corporation Net Income Taxes$143
License Taxes$58
Other Taxes$800
Source: U.S. Census Bureau

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