RALEIGH, N.C. (AP) — The keeper of North Carolina’s financial books says revenue collections fell dramatically in April, when tax filing deadlines were delayed and commercial transactions slowed due to the COVID-19 outbreak.
The State Controller’s Office reported this week that overall revenues for the month were one-third less than what was collected in April 2019. April is usually a big collection month.
The April drop also turned what had been a revenue surplus through March into a $1 billion gap between projections and actual collections.
These reductions compound challenges that legislative budget-writers and Gov. Roy Cooper face in operating state government during the outbreak.
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