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HB 1189 - Corporate Income Tax Reductions - North Dakota Key Vote

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Title: Corporate Income Tax Reductions

Vote Smart's Synopsis:

Vote to pass a bill that reduces taxes on domestic and foreign corporations for taxable years beginning after December 31, 2010.

Highlights:

  • Restructures the income tax rates for domestic and foreign corporations as follows (Sec. 1):
    • Exempts from taxation the first $75,000 of taxable income; and
    • Sets a tax rate of 4.9 percent for all taxable income in excess of $75,000.

NOTE: THIS IS A SECOND READING VOTE TO END DEBATE ON THE BILL AND ADVANCE IT TO THE THIRD READING IN WHICH AN UP-OR-DOWN VOTE FOR PASSAGE WILL OCCUR ONLY IF VOTES CHANGE OR THE THIRD READING OCCURS ON A DIFFERENT LEGISLATIVE DAY.

Full Bill Text

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