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 revised to include a base tax of one thousand dollars plus eight percent of the proceeds exceeding one hundred thousand dollars.

Furthermore, the bill introduces a new tax bracket for organizations with adjusted gross proceeds exceeding two hundred thousand dollars, which imposes a tax of nine thousand dollars for the first two hundred thousand dollars and twelve percent on any proceeds above that amount. These changes aim to adjust the tax burden on gaming organizations based on their revenue levels, potentially providing relief to smaller organizations while establishing a more structured tax system for larger entities.

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