BISMARCK, N.D. - The lastest revenue numbers released by the North Dakota Office of Management and Budget illustrate with clarity the need for income tax reductions at the state level.

• Individual Income Tax revenues for April 2008 were $33.8 million (45.7%) higher than expected. (28.4% higher than expected for the biennium to date.)
• Corporate Income Tax revenues were $17.8 million (96.6%) higher than expected. (89.6% higher than expected for the biennium to date.)
• Sales Tax revenues were $9.4 million (27.8%) higher than expected. (10.9% higher than expected for the biennium to date.)
• Motor Vehicle Excise Tax revenues were $1.5 million (31.2%) higher than expected. (19.1% higher than expected for the biennium to date.) 
•  $30.2 million in April 2008 was added to the Permanent Oil Trust Fund, bring the total deposited in the oil trust fund to just over $127 million with 14 months left in the biennium.

"These figures prove without a doubt that state revenues are up and it is not all because of oil." state policy director Dustin Gawrylow said.

State revenues outside of oil tax revenues are now 18.2% higher than expectations.

"While the oil industry is helping North Dakota buck the national economic downturn, the oil taxes are "extra money." The general taxation on the people of North Dakota is far outpacing the predictions and expactions of the state illustrating that it is time to cut the state income tax and let people keep more of the money they earned," Gawrylow concluded.

The full OMB report can be found at http://www.nd.gov/fiscal/revenews/200805news.pdf