0

Deal: January revenues up 10.4 percent

ATLANTA — State revenues were up more than 10 percent in January from a year ago, Georgia Gov. Nathan Deal announced Monday.

Georgia's net tax collections for January totaled $1.73 billion for an increase of nearly $164 million, or 10.4 percent, compared to January 2012, Deal's office said. At the end of seven months, net tax revenue collections are up almost $564 million, or 5.7 percent, compared to the same point last year.

Individual Income Tax collections in January totaled $1.025 billion — up from $881.75 million in January 2012 — for an increase of $143.25 million, or 16.3 percent, with individual estimated payments up, individual withholding up and individual income tax refunds down.

Sales and use taxes were up slightly month-to-month from a year ago, to nearly $519 million.

Corporate income tax collections for January increased $18.25 million, or 710 percent, compared to last year’s net collections total of $2.5 million. Net corporate refunds dropped considerably compared to last fiscal year, while gross corporate revenue dropped only slightly by $1.5 million, Deal's office said.

Comments

Sign in to comment