The bill amends subsection 1 of section 53-06.1-12 of the North Dakota Century Code, which pertains to the taxation of gaming proceeds 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 fifty thousand dollars. Additionally, for organizations with adjusted gross proceeds exceeding one hundred fifty thousand dollars but less than two hundred fifty thousand dollars, the tax structure is modified to include a base fee of five hundred dollars plus twelve percent of the adjusted gross proceeds exceeding one hundred fifty thousand dollars.

Furthermore, for licensed organizations with adjusted gross proceeds exceeding two hundred fifty thousand dollars, the tax is set at a flat rate of twelve percent of the adjusted gross proceeds. These changes aim to adjust the tax rates and thresholds to better reflect the current gaming revenue landscape in North Dakota.

Statutes affected:
INTRODUCED: 53-06.1-12