New State Budget Does NOT Harm Emerald Isle's Sales Tax

 

The NC General Assembly adopted the FY 15-16 State budget in September, and the new budget includes sales tax provisions that provide additional financial assistance to rural counties but does NOT reduce the amount of sales tax revenue provided to Emerald Isle, Carteret County, and other tourism communities.  The Town is pleased with this outcome, as sales tax is the Town's most important revenue source.

Total sales tax revenues in Emerald Isle are in excess of $1.65 million per year.  Earlier proposals under consideration by the NC General Assembly could have reduced Emerald Isle's annual sales tax revenues by anywhere from $200,000 to more than $1 million.  Town officials worked closely with other officials in Carteret County to oppose the earlier proposals, and also received great support from NC Representative Pat McElraft, NC Senator Norman Sanderson, and Governor Pat McCrory.

 

Thursday, October 15, 2015 11:06:00 AM