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North Dakota Revenue

North Dakota Revenue
North Dakota sees revenue passing forecast, stays realistic
The Associated Press - July 2, 2018

BISMARCK, N.D. - Tax collections in North Dakota this year have been exceeding economic estimates, but the state's treasurer is still urging caution.

State Treasurer Kelly Schmidt told the Bismarck Tribune last week that General Fund revenues from biennium-to-date are more than 2 percent higher than projected. A Legislative Council report says surging oil and extraction tax revenue is 72 percent higher than what was forecast for June.

But Schmidt cautions that the forecast from last year was a conservative one, and that "what goes up can go down."

Joe Morrissette is the Office of Management and Budget's director. He says there's still forecasting left for the 2017-19 biennium.

The Advisory Council on Revenue Forecasting will review preliminary figures from Moody's Analytics this month, with the new forecast to come in August.



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