State revenue greater than expected, not likely to continue |
Written by Josh Ellis/David Horn
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Thursday, 06 October 2011 09:25 |
(RALEIGH) -- State tax collections are ahead of schedule so far this year, but the legislature’s senior staff economist said that trend may not continue. Fiscal analyst Dr. Barry Boardman cautioned that if the state’s unemployment rate continues to remain high, the revenue surplus probably will not last.
"The economic signals out there are that we really have hit a soft spot, that the economy is fragile. To expect continued grow in those key issues, sales and person income tax may be a bit much to hope for," said Boardman.
Boardman told a legislative panel that the state took in $135 million to $145 million more than expected during the first three months of the fiscal year.
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Last Updated on Monday, 10 October 2011 00:00 |