RALEIGH, NC (AP) — The difference between predicted revenue collections for the first half of North Carolina government’s fiscal year and what’s actually come in has widened slightly.
The General Assembly’s top economist says revenues are $199 million below expectations through Dec. 31. The amount was $190 million through November.
Weak individual income taxes have been blamed for the gap – particularly lower than expected withholdings taken from people’s paychecks connected to 2013 tax changes. Legislative economist Barry Boardman says sales taxes during the holiday season came in as expected.
The amount remains a small percentage of the $21 billion state budget and could improve or worsen as key tax returns are filed before April 15. A wider gap could make next year’s budget decisions tougher for the legislature, which reconvened Wednesday.
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