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NC tax collections remain ahead of forecasts

RALEIGH (AP) -- The state's bank accounts are still taking in more money than the Legislature expected. Economists for the General Assembly said state government collected $140 million more than projected in revenues during the first seven months of the fiscal year. That's good news amid the national economic downturn. Other states are facing large shortfalls. A report sent to North Carolina legislative leaders earlier this month attributes the extra money to conservative revenue expectations in the $20 billion state budget passed last summer. North Carolina's job growth also has brought in more state taxes from worker paychecks. Still, the report said North Carolina isn't protected completely from the economic slowdown. The full revenue picture won't come until April 15 tax returns are filed. (Copyright 2008 by The Associated Press. All Rights Reserved.)

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