REVENUE

New N.D. tax forecast estimates $46M revenue growth

A new forecast of North Dakota's tax collections estimates another $46 million in revenue growth in the next two years.

February 14, 2011

Tax option would encourage saving

Although a value-added tax is gaining steam as the likeliest revenue source to help fill the nation’s yawning fiscal gap, President Barack Obama’s debt commission should consider an alternative: a progressive consumption tax. The virtue of the PCT over the VAT is that it’s simple, transparent and progressive. It would reward and encourage savings. And, politically, it would be an American invention, not a European import.

By Morton Kondracke, Roll Call , April 13, 2010

AP Analysis: MLB salaries climb slightly

Opening-day baseball salaries grew despite the recession, although at a slower rate than in recent years. The average salary went up 1.8 percent to $3.3 million at the start of season, according to an analysis of rosters by The Associated Press. The increase was the lowest since a 2.7 percent drop in 2004 and down from a 2.7 rise at the start of last season.

April 06, 2010

Revenue not enough to maintain roads

John Thompson, district engineer for the Valley City district of the North Dakota Department of Transportation, met with city and county officials Thursday concerning road issues in the region. The meeting is in preparation for public comment meetings scheduled for April.

By Keith Norman , March 19, 2010

States expand gaming for budget

Faced with a drop in gambling revenue, states are adding games, considering new casinos and increasing lottery options — anything to keep their cut of the profits rolling in.

March 16, 2010

EBay net income down; revenue rises

EBay Inc. said that even as third-quarter net income dipped 29 percent, its revenue rose largely because more people and merchants are using PayPal to pay for things online.

October 22, 2009

Sales tax revenue takes hit in N.D.

North Dakota taxable sales and purchases are down in the second quarter compared to last year but are still growing as the state continues to weather the economic storm, said Cory Fong, North Dakota tax commissioner. 2008 was a banner year for taxable sales and purchases with high energy and commodity prices putting more money to spend in the hands of North Dakotans, Fong said.

By Ben Rodgers , October 09, 2009

YouTube says Warner music videos back

YouTube said Tuesday that music videos from Warner Music Group Corp. will return to the video site in the coming months after a nine-month dispute over splitting ad revenue.

September 30, 2009

N.D. sees dip in August sales tax collections

North Dakota’s budget director says the state has seen a dip in its sales tax collections. New state budget office data said August’s sales tax revenues fell 15.6 percent below projections. Forecasters expected $57.8 million in sales tax collections for the month. Instead they came in at $46.2 million.

September 16, 2009

Local sales tax revenue drops

The latest prediction of $1.8 million in sales tax revenue in Jamestown for 2009 is ringing alarm bells among local economic development officials. Connie Ova, Jamestown/ Stutsman Development Corp. CEO, said in 2008 sales tax revenue reached $1.975 million.

September 01, 2009

Tax revenue drop worst since 1932

The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation’s plate and struggling to find money to pay the tab. The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion. Other figures in an Associated Press analysis underscore the recession’s impact: Individual income tax receipts are down 22 percent from a year ago. Corporate income taxes are down 57 percent. Social Security tax receipts could drop for only the second time since 1940, and Medicare taxes are on pace to drop for only the third time ever.

By By Stephen Ohlemacher, The Associated Press , August 04, 2009

Officials: Stimulus going to immediate problems

With tax revenue plunging and states struggling to balance their budgets, officials from several states acknowledged Wednesday that they’re more focused on immediate problems than long-term issues. Officials from 10 states gathered in Des Moines to discuss how they were handling billions of dollars from the federal stimulus and hopefully learn what has worked and what hasn’t.

By By Mike Glover, The Associated Press , July 30, 2009

N.D. to take in $38 million less than earlier projected

BISMARCK — North Dakota’s treasury will see $38.4 million less in 2009-11 than its budget writers assumed in November, a new forecast released today said.

By By Janell Cole, N.D. Capitol Bureau , February 09, 2009

Analysts presenting new N.D. tax collection forecasts; will revenue drop?

Gov. John Hoeven’s proposed $7.7 billion budget was built on economic assumptions that may have been too rosy, and North Dakota lawmakers say they’ll be scrambling in the coming weeks to decide what to do about it.

By By Dale Wetzel, The Associated Press , February 09, 2009

EBay profits, revenues fall

Quarterly earnings fell 31 percent at eBay Inc., indicating that its Internet auctions are being hurt by the recession just like traditional retail sales. The results, combined with a forecast below analysts’ expectations, sent eBay shares skidding nearly 6 percent.

January 22, 2009