Published Saturday, March 09, 2013

February revenues up 4 percent

Gov. Nathan Deal announced this week that Georgia’s net tax collection for February totaled $796 million for an increase of nearly $31 million, or 4 percent, compared to February 2012.

After eight months in the current state fiscal year, net tax collections are up almost $595 million, or 5.6 percent, compared to this same point last year.

Individual Income Tax collections in February totaled $207.5 million — down from $235.75 million in February 2012, for a decrease of $28.2 million, or down 12 percent.

Net Sales and Use Tax collections for February totaled $446.25 million, up $34 million, or 8.3 percent. Gross sales tax collections increased $23 million, or 3 percent, compared to FY2012. The distribution to local governments fell $6.5 million to $348 million and sales tax refunds decreased $45 million, relative to February 2012.

Corporate Income Tax collections for February increased $31 million, or 92.3 percent, compared to last year’s net collections of $33.5 million.

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