A study by Nathan Goldman, assistant professor of accounting, found that states with tighter COVID restrictions generated higher income tax revenue, the opposite of what was largely expected from the pandemic. North Carolina is among the 22 states in the U.S. where tax revenues increased in 2020.
“What we would suggest is as these COVID-19 restrictions increased, it actually benefited everyone in general, because now the states were able to be well-funded,” said Goldman.
Read more on CBS 17.
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