Revenue Surpluses

 


The state of North Carolina received a bit of good news last week when the Office of State Budget and Management projected a $400 million revenue surplus for the fiscal year ending June 30. Some legislators, such as Senate leader Phil Berger said the surplus was due to state tax policies. That may be true. While taxes were decreased for some, hundreds of thousands of state residents paid more in state taxes than last year. Due to the elimination of retirement and medical deductions, many seniors paid more in taxes this year. Other less obvious tax increases, such as adding taxes on several...



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