New Hanover County ABC Board exceeds $50 million in net sales, distributing extra profit to local governments

NEW HANOVER COUNTY, NC (WWAY) — The New Hanover County ABC Board exceeded net sales of over $50 million from 2022-2023, according a a report.

Once a Board exceeds a net sale of $50 million, their maximum working capital calculation changes from 3 months to 2 months, according to Title 14B Public Safety Chapter 15 Alcoholic Beverage Control Commission Rule 14B NCAC 15A.0902.

As a result of exceeding this threshold, New Hanover County ABC has provided an extra profit distribution of over $4.5 million to local governments.

A portion of ABC funds are also dedicated to rehabilitation and related services for those struggling with alcohol and substance abuse through tax distributions to the North Carolina Department of Health and Human Resources and New Hanover County that is then distributed to Trillium.

The following is the breakdown of the extra profit distribution to New Hanover County’s Municipalities:

New Hanover County receives $2,230,584

City of Wilmington receives $1,384,437

Town of Wrightsville Beach receives $484,209

Town of Carolina Beach receives $403,505

Town of Kure Beach receives $8,510