Created: 5/17/11 (Tue) | Topic: Issues
Comprehensive tax relief means revised withholding tables
Bismarck, N.D. – Tax Commissioner Cory Fong today released the newly updated North Dakota Income Tax Withholding Rates and Instructions and updated Individual Income Tax Withholding Tables.
The publications were updated to reflect income tax relief passed by the 2011 Legislature and signed into law by Governor Dalrymple.
“The new Withholding Rates and Instructions and the new Withholding Tables are a result of House Bill 1047, the comprehensive tax relief package, that was passed this legislative session,” said Fong.
The comprehensive tax relief package (HB 1047) provides $120 million in individual income tax cuts across the board by reducing individual income tax rates by 17.9 percent.
“The reduction in individual income tax rates will help nearly 300 thousand individuals, as well as approximately 25 thousand small businesses and about 33 thousand farmers who file North Dakota individual income tax returns,” said Fong.
The Tax Department updated its Income Tax Withholding Rates and Instructions booklet to reflect the changes in rates, including the Individual Income Tax Withholding Tables that employers rely on in their payroll operations. The new booklet and tables are available on the department’s web site at www.nd.gov/tax.