State tax revenues tumbled in the second quarter from year-earlier levels, as the recession pummeled consumers leading to lower income and sales taxes.
…The total level of taxes across the U.S. was 17% lower from a year earlier.
North Carolina
Change in total taxes from 2008: -22%
Change in sales taxes from 2008: -8%
Change in individual income taxes from 2008: -36%
Phil Izzo
Wall Street Journal, October 01, 2009
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If North Carolina Tax Revenues fell 22%...?
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