RALEIGH — North Carolina officials on Friday projected a modest revenue surplus this fiscal year, the result of stronger than anticipated economic conditions, but warned soon-implemented tax cuts should mean lower collections ahead, which could […]
RALEIGH — North Carolina officials downgraded a projected state revenue surplus through mid-2025 by $430 million on Friday, citing lower than anticipated April 15 individual income tax payments due to recent business tax changes. Still, […]
RALEIGH — North Carolina’s government should collect higher revenues during this fiscal year and next than what is projected in the current two-year state budget, according to a new forecast released Wednesday. Economists for the […]
RALEIGH — North Carolina state coffers ended the 2022-23 fiscal year with revenues of $33.5 billion, adding an additional $3 billion above the state budget estimate. In addition, the Office of State Budget and Management (OSBM) […]
RALEIGH — North Carolina government tax collections have soared above expectations so far this fiscal year, as the state’s pandemic-rebounding economy has pumped consumer spending and edged the jobless rate close to pre-COVID-19 levels. Through […]
RALEIGH — The North Carolina Senate, who introduces their spending plan first this biennium, presented their budget on June 21, maintaining the conservative approach General Assembly Republicans have been following since they took over the […]
RALEIGH – A June 15 consensus revenue forecast shows that NC coffers are expected to have a surplus of over $6.5 billion by 2023 without funds from the American Rescue Plan. “These new numbers show […]
After a decade of Republican leadership in the General Assembly, North Carolina was fiscally prepared for COVID-19. The GOP-controlled legislature revamped the Rainy Day Fund back in 2011, accruing over $1.2 billion since then to […]
RALEIGH — The non-partisan fiscal research division of the General Assembly released a revised revenue forecast last week projecting state tax collections would exceed predictions by $277 million over the next two budget years. In […]
RALEIGH — North Carolina Republicans say they want to return to taxpayers much of the largest state government revenue surplus in over a decade. Senate Leader Phil Berger (R-Eden) and House Speaker Tim Moore (R-Kings […]
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