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Georgia tax revenues rise

Wednesday, April 10, 2013 3:35 PM
Last updated 6:22 PM
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ATLANTA – Georgia’s tax collections rose 1.1 percent in March compared to the same month last year, fueled mainly by increased corporate income taxes and car tags and title fees.

Gov. Nathan Deal said Wednesday that even though the rise was modest it was in the right direction.

“While the state’s net revenues for March were not as strong as in recent months, this improvement marks the 11th consecutive quarter of net revenue improvement dating back to 2011,” Deal said.

Total tax collections for the year so far are up 5 percent.

Individual income taxes, which make up about half of the state’s revenue, increased just 0.1 percent in March. That figure includes individual withholding payments which rose 4.5 percent and subtracts refunds to individuals which grew by 12 percent.

Corporate income taxes rose 4.4 percent, including a 7 percent boost in corporate estimated payments and a 53 percent decline in corporate refunds.

Net sales tax collections fell 0.2 percent during the month.

Motor-vehicle taxes, which includes tag, title and fee collections, as a group rose 18 percent in March.

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Darby
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Darby 04/11/13 - 04:31 pm
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Spend is wisely Deal...

None of that deficit spending garbage your buddies in DC are giving us.

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