Atlanta Business Chronicle: February tax revenue up 7% in Georgia

Georgia's revenue numbers for February are up 7 percent and unemployment is down. We are moving in the right direction.

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Georgia’s total tax revenue increased 7 percent in February, boosted by sales tax, motor fuel tax and individual income revenues, the Georgia Department of Revenue reported Thursday.

The state took in $765.2 million in February, compared with $715.3 million in February 2010.

Sales tax revenue was up 10 percent top $412.2 million, while individual income tax revenue spiked 27.8 percent to $235.7 million and motor fuel tax revenue rose 14.2 percent to $81.5 million.

Corporate income tax revenue was down 346.2 percent to a deficit of $33.6 million, due to a higher number and amount of corporate income tax refunds.

“February’s numbers saw positive trends, as we continue to move in the right direction,” Gov. Nathan Deal said in a statement. “With revenues up and unemployment down, Georgians have to like what they’re seeing, even though there’s still much work to do.”

 

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Governor Nathan Deal