North Carolina’s budget increased, cumulatively, less than pop+inf in state funds but more than pop+inf in all funds from 2013-22.



State Funds Budget Data
- Estimated 2023 State Funds Budget ($ Billions): $40.27
- Budget Limit ($ Billions): $42.31
- Budget Limit Growth ($ Billions): 5.09%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $86.51
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $346
- Cumulative cost per person of budgeting more than pop+inf over the last decade: ($47.85)
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: ($191.39)
State All Funds Budget Data
- Estimated 2023 All Funds Budget ($ Billions): $65.73
- Budget Limit ($ Billions): $69.08
- Budget Limit Growth ($ Billions): 5.09%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $1,866.69
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $7,466.75
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $7,017.31
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $28,069.24
Other Considerations
- Economic Freedom (2020) (Rank): 9 [Fraser Institute]
- State Tax Collections Per Capita (FY2021) ($): $3,290 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 32 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $5,299 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 9.90% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 23 [Tax Foundation]
- Top Income Tax Rate (2023) (%): 4.75% [Tax Foundation]
- Top Income Tax Rate (2023) (Rank): 38 [Tax Foundation]
- Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): F [Tax Foundation]
- Overall State Business Tax Climate Index (2023)(Rank): 10 [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (%): 2.50% [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (Rank): 44 [Tax Foundation]
- State-Local Sales Tax Rate (2023) (%): 6.99% [Tax Foundation]
- State-Local Sales Tax Rate (2023) (Rank): 26 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 0.82% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 32 [Tax Foundation]
- Tax and Expenditure Limit (0-3): 1 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 15 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): Y [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $10,978 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 11 [US Government Spending]
- Official Poverty Rate (2020-22) (%): 13.3 [Census Bureau]
- Official Poverty Rate (2020-22) (Rank): 40 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (%): 10.3 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (Rank): 40 [Census Bureau]
- Labor Force Participation Rate (Dec. 2022) (%): 60.50% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec. 2022) (Rank): 36 [Bureau of Labor Statistics]