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Struggling National and Global Economy Reinforces Need for Increased Tax Competitiveness in North Dakota

BISMARCK, ND – Following a recent study conducted by the non partisan Tax Foundation that ranked North Dakota 30th in the nation for state business tax climate, Americans for Prosperity of North Dakota (AFP-ND) calls for passage of Measure #2 in the fast approaching November election.  The full report can be found at http://www.taxfoundation.org.

“With many states struggling with the current economic situation, now is the perfect time to elevate our rankings nationally while other states are simply not in the position to do so,” said AFP-ND State Policy Director Dustin Gawrylow. “North Dakota must position itself as a place that entrepreneurs can come and create new businesses and not be hit by burdensome state income taxes that reduce the amount of reinvestment that can be made into their businesses.”

Neighboring states ranked high in the Tax Foundation study with South Dakota placing 1^st ,  Wyoming 2^nd, and Montana close behind at 6^th. AFP-ND questions the state’s ability to compete nationally and globally when so far behind in its own region.

The Tax Foundation’s rankings take into account the application of individual income tax rates on sole proprietorships, partnerships and S-corporations.  Measure #2 on the North Dakota state election ballot would reduce the state individual income tax by 50% and the state corporate income tax by 15%. 

 “To create sustainable economic growth we must reform the state income tax code to allow a more diversified growth of business from the ground up,” said Gawrylow. “Measure #2 will dramatically improve North Dakota’s rankings in next year’s state business tax climate report.  More importantly, North Dakota will immediately leapfrog over several states and move higher on the target lists of those looking to expand their businesses.”