Aug. 27th, 2012North Carolina has an Amazon tax, which categorizes out-of-state firms as in-state, and thereby liable for sales tax, under certain conditions. However, the tax has not proved effective at increasing revenues, it does not level the playing field, and it may drive firms out of the state.
Jun. 28th, 2012The General Fund portion of North Carolina’s $51.7 billion state budget for 2013 is now $20.18 billion, which exceeds planned spending as passed in 2011. All of this year’s General Fund proposals from the House, Senate, and governor have been for more spending than planned. By taking the lower cost of each General Fund component from the House and Senate proposals — “reverse logrolling” — with a couple of exceptions, one could achieve a General Fund total of $19.85 billion. That would save $330 million from the enacted General Fund and $87 million from last year’s plan.
May. 8th, 2012Total state spending per capita is at its highest level ever in the 2012 fiscal year and has more than tripled since 1970. Over the past four decades, state spending has grown much faster than personal income, and in real, per capita terms, spending on all reported categories has more than doubled since the mid-1970s. That includes education, corrections, health and human services, transportation, and debt servicing. General fund spending per capita has declined by 16 percent since 2009, but per capita spending outside of the general fund increased by 26 percent and more than compensated for the general fund’s decline. Federal aid continues to comprise an ever-larger portion of the state budget, and North Carolina’s cash-basis accounting conceals spending and is generating unfunded liabilities
Jan. 15th, 2012
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Oct. 29th, 2012
Oct. 22nd, 2012