Under the Dome

NC revenue up about $257 million

State revenues from taxes and other sources were up more than $257 million, or about 2 percent, for the fiscal year through March 31 compared to the same nine months ending in March 31, 2014.

The state collected less in income taxes from individuals and corporations over the nine months compared to last year, while sales and use taxes increased 13.8 percent.

Lawmakers, especially state budget writers, watch these numbers closely.

A few months into the fiscal year last fall, tax revenues were actually down from the year before. State Budget Director Lee Roberts said then that it was too early to predict trouble.

Important numbers from the April tax collections are still to come, Roberts said Tuesday, but the apparent rebound “is what we hoped and expected would happen.”

Officials have not yet adjusted a forecast that the state’s revenues will not meet the expected target. The budget picture will be more clear in May.

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