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NC gets $84M more than expected through December

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RALEIGH, NC (AP) -- North Carolina coffers have been slightly more full than projected by state government budget writers through the first half of the fiscal year.

The General Assembly's top staff economist told legislators this week that collections from taxes and other revenues are $84 million above the target set through Dec. 31. That's less than 1 percent above the $10 billion expected when lawmakers wrote a spending plan last summer.

Economist Barry Boardman attributes the uptick largely to corporate tax collection improvements. He says there's some concern about the level of taxes coming out of workers' paychecks.

Boardman says 2013 tax changes bring greater uncertainty to revenue predictions for the year ending June 30. They're important as legislators return in May to adjust the second year of the two-year budget.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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