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North Dakota tax collections continue falling below forecast

BISMARCK, N.D. (AP) — North Dakota continues to see bleaker-than-expected state tax revenue collections from declining oil activity in the state. Office of Management and Budget Director Pam Sharp says revenues for March totaled $98.8 million. That’s $13.8 million less than what had been projected. Tax collections already are down more than $20 million since a new revenue forecast was done ...

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North Dakota tax collections far below revised forecast

North Dakota budget, Dalrymple

BISMARCK, N.D. (AP) — North Dakota continues to see bleaker-than-expected state tax revenue collections from declining oil activity in the state. Office of Management and Budget Director Pam Sharp told a panel of lawmakers Tuesday that tax collections already are down $6.4 million since January. Gov. Jack Dalrymple on Feb. 1 ordered cuts in state government and a raid on ...

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North Dakota tax revenues fall $215M short of projections

Inside the North Dakota State Capitol, the House Of Representatives. (Image: Timothy Vogel via Flickr)

BISMARCK, N.D. — North Dakota continues to see less-than-expected tax collections due to declining oil drilling activity. Office of Management and Budget Director Pam Sharp says overall tax revenues through December are about $215 million less than projected. Most of the drop comes from weakened sales tax revenue, which provides the biggest share of the budget for North Dakota government. ...

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North Dakota official says budget ‘very likely’ faces cuts

Inside the North Dakota State Capitol, the House Of Representatives. (Image: Timothy Vogel via Flickr)

BISMARCK, N.D. — North Dakota’s budget director ordered an updated revenue forecast on Friday and said agencies “very likely” will have to trim spending due to lower-than-expected tax collections from a decrease in oil drilling in the state. “It’s the responsible thing to do,” Office of Management and Budget Director Pam Sharp said. Sharp said agencies may be asked to ...

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North Dakota budget writer: New revenue forecast likely

The Legislative Hall of the North Dakota State capitol building in Bismarck. (Image: Timothy Vogel via Flickr)

BISMARCK, N.D. — North Dakota’s top budget writer says “it’s very likely” an updated revenue forecast will be needed due to drop in oil drilling in the state. Office of Management and Budget Director Pam Sharp says a reworked revenue forecast is the initial step in addressing potential revenue shortfalls in the current two-year budget cycle. Overall tax revenues are ...

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No bust for the Bakken, state revenue to take a hit

According to North Dakota lead oil regulator, the current oil drilling slowdown in the Bakken is far from being a bust, reports the Forum News Service. North Dakota Department of Mineral Resources Director Lynn Helms did say, however, that the decline in oil prices will put stress on state revenue for the next couple years and could prevent the state ...

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