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In a move aimed at increasing state revenue and addressing budget shortfalls, North Dakota has introduced a new tax package that includes changes to individual and corporate income taxes, sales taxes, and property taxes. The tax package, which was unveiled by Governor Emily Thompson on Friday, is projected to generate an additional $200 million in revenue for the state over the next fiscal year.One of the key changes in the tax package is an increase in the state's individual income tax rates. Under the new plan, individuals earning over $100,000 per year will see their income tax rate increase from 5.4% to 6.2%. The tax rate for individuals earning between $50,000 and $100,000 will remain unchanged at 4.9%, while those earning less than $50,000 will see a slight decrease in their tax rate from 3.1% to 2.9%.In addition to changes in individual income tax rates, the tax package also includes adjustments to corporate income tax rates. The state's corporate income tax rate will increase from 4.3% to 5.1% for businesses with annual revenues exceeding $1 million. Small businesses with annual revenues below $1 million will see a decrease in their tax rate from 3.5% to 3.2%.Furthermore, the tax package includes an increase in the state's sales tax rate from 5% to 5.5%. This increase will apply to both goods and services, with certain exemptions for essential items such as groceries and prescription medications.Property owners in North Dakota will also see changes to their property tax rates as part of the new tax package. Residential property tax rates will increase by an average of 2%, while commercial and industrial property tax rates will see an average increase of 3%.Governor Thompson emphasized the importance of the new tax package in ensuring that the state can continue to provide essential services and invest in critical infrastructure projects. "These changes are necessary to ensure that North Dakota remains fiscally responsible and can meet the needs of its residents," she said in a statement.The tax package has received mixed reactions from residents and businesses in North Dakota. While some appreciate the state's efforts to address budget shortfalls, others have expressed concerns about the impact of the tax increases on their finances.Overall, the new tax package represents a significant shift in North Dakota's tax policy and