NC Revenue Secretary Tells Greenville Leaders He's "Cautiously Optimistic"

It's getting to be that time of the year-- tax season. And because of the recession there's been a lot of looming questions on whether the NC's revenue will be affected because of the hard times.

Tuesday in Greenville the Secretary of the North Carolina Department of Revenue, Kenneth Lay, spoke to business leaders about that. His message--revenue has been affected by the economy, but he says he's "cautiously optimistic" and is expecting the numbers to be similar to last year. "Individual taxes are down, sales tax is down, but collections from corporations are up. So we should be balanced and pretty close to where we were last year."

Lay said every year there's challenges and the department is trying to work with the challenge this year, which is the bad economy.

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  • by Ed Location: NC on Jan 19, 2010 at 07:42 PM
    He's optimistic that even if revenue falls short, our legislature can make up the difference by sneaking through another sales tax increase like they did last August. And if that's not enough there's always another penny or two to add to our already overtaxed gasoline. (It's already an average of 10 cents per gallon higher than TN, SC, and VA) And just to make sure everyone is treated fairly, we'll hit up all the sinners for another hefty tax on alcohol and tobacco. Cut spending? How ridiculous. Why every good politician knows that when you're broke, you have to spend more money to stimulate the economy!

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