State banks extra $150M so far in 2011-12

Posted January 10, 2012

North Carolina’s revenue collections through the first six months of the 2011-12 fiscal year are $150 million above earlier projections, officials said Tuesday.

About $60 million of that total was added in December, when corporate and franchise collections were 14.5 percent above budget, allowing them to end the first half of the year on target.

Individual income tax collections finished December about 2 percent above budget expectations and remain above forecast for the first half of the fiscal year.

Sales collections ended 3.8 percent above budget projections in December but slightly below budget for the first half of the year.

"We still have a long way to go, but these figures suggest that the top-rated business climate and educated, trained workforce we have built over the years is helping our recovery gain traction,” Gov. Beverly Perdue said in a statement.

State economists report that the recent economic data remains upbeat, but officials noted that the most volatile revenue sources are collected during the second half of the year.


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  • driverkid3 Jan 13, 2012

    Well, just look at the party that has held all the power for so many years; it's a wonder that it doesn't make the 8th to 10th level.

  • vter53 Jan 12, 2012

    Actually timtooltime777, according to the internet NC is the 14th most corrupt state in the nation.

  • timtooltime777 Jan 11, 2012

    My state taxes are almost as high as my federal taxes! Where is all my money going ? Illegall's, politicans pockets ?? This has to be one of the most corrupt states in the US of A !