News brief: North Carolina tax revenue declines

Published 8:29 pm Wednesday, November 25, 2009

According to the N.C. Controller’s office, the state’s general fund continued to see lower tax and non-tax receipts in October. Tax revenues declined by $99.1 million, or 6.2 percent for the month compared to the previous year. With lower cash balances, investment earnings declined by $10.5 million or 65.6 percent. For the year to date, net tax revenues are down 4.4 percent and investment earnings are down 71.9 percent compared to the prior year.

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