RALEIGH, North Carolina — Revenues are slightly exceeding what North Carolina lawmakers anticipated would be needed to carry out the state government budget so far this fiscal year.
The General Assembly's top economist told legislators the state has collected $120 million more than projected for the first six months, or through Dec. 31. Barry Boardman wrote Friday that's 1.2 percent above the revenue target of roughly $10 billion. He says that means revenue is "essentially on track."
Boardman's report says moderate economic growth is expected in the state and wage growth is helping personal income tax collections exceeded projections. Sales taxes are below their target.
Legislators won't get a true handle on tax collections until after April 15 tax deadlines.
A year ago, a pre-April shortfall ultimately turned into a $450 million surplus.