The bill amends subsection 1 of section 53-06.1-12 of the North Dakota Century Code, which pertains to gaming tax reductions for licensed organizations. The key changes include an increase in the threshold for the one percent tax rate from fifty thousand dollars to one hundred thousand dollars. Additionally, for organizations with adjusted gross proceeds exceeding one hundred thousand dollars but less than two hundred thousand dollars, the tax structure is modified to include a base tax of one thousand dollars plus eight percent of the adjusted gross proceeds exceeding one hundred thousand dollars.

Furthermore, for organizations with adjusted gross proceeds exceeding two hundred thousand dollars, the tax is set at nine thousand dollars for the first two hundred thousand dollars, followed by a twelve percent tax on any proceeds above that amount. These adjustments aim to provide a more favorable tax structure for gaming organizations in North Dakota, potentially encouraging growth and increased revenue within the sector.

Statutes affected:
INTRODUCED: 53-06.1-12
Prepared by the Legislative Council staff for Representative Hauck: 53-06.1-12
FIRST ENGROSSMENT: 53-06.1-12