If North Carolina Tax Revenues fell 22%...?

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