1 Comments for this article

Tags: , , , , ,

RALEIGH, NC (AP) — North Carolina state government revenues remain slightly ahead of projections during this fiscal year, but the Legislature’s top economist warns that slow employment and potential recessions in other countries could drag collections down.

Barry Boardman with the General Assembly’s Fiscal Research Division told lawmakers Tuesday revenues for the state’s operating fund were $145 million above the $11 billion expected through Jan. 31 – the first seven months of the fiscal year.

Boardman told an oversight committee that economic data for several months show the economy is gaining strength. Increased personal income taxes and corporate taxes are contributing to the state’s higher collections. Boardman says continued higher gas and food prices could cut into sales tax collections.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

Comment on this Story

Related News

Pat McCrory arrives at Trump tower on December 7, 2016 (Photo: CNN)
18 hours ago
0 Comments for this article
Pat McCrory arrives at Trump tower
Read More»
Donald Trump is the 2016 Time Person of the Year (Photo: Nadav Kander/Time)
21 hours ago
0 Comments for this article
Trump is Time magazine’s Person of the Year
Read More»
Donald Trump thanks North Carolina voters during his 2016 Thank You Tour stop in Fayetteville on Dec. 6, 2016. (Photo: Sarah Johnson/WWAY)
1 day ago
0 Comments for this article
Trump says ‘thank you’ to NC supporters
Read More»