Rev-E-News: December 2024

North Dakota Office of Management and Budget sent this bulletin at 12/20/2024 01:09 PM CST

Monthly North Dakota Revenue Report

Forecast Comparison of the Four Major Tax Types

The revised 2023-25 Executive Forecast estimates that revenue collections for the four major tax types (Sales and Use Tax, Motor Vehicle Tax, Individual Income Tax and Corporate Income Tax) will be over $182,000, or 5% higher than the Legislative forecast. The majority of the growth is in the sales and use tax and corporate income tax collections.

The 2025-27 Executive Forecast shows a flat forecast with a slight increase from the revised 2023-25 Executive forecast. The growth is mainly reflected in sales and use tax and individual income tax collections.