Georgia's tax collections increased for the 10th consecutive month as revenue increased 2.6 percent in April.
The increase, over April 2010, amounts to $35 million, Gov. Nathan Deal's office said Wednesday. For the fiscal year, which began July 1 and runs through June 30, tax collections are up 8.6 percent over the same period a year ago.
“Our consistently strong revenue growth combined with a fiscally conservative budget for 2012 should put state finances on a strong footing in the coming year,” Deal said in a statement. “We’re encouraged by the positive trends, but we’ll keep working hard until our job growth is just as strong as our revenue growth.”
Individual income tax collections increased by 8.2 percent, or $54 million, while sales and use tax collections grew by 2.2 percent. Corporate income taxes, however, fell by 23.3 percent. For the fiscal year, however, corporate tax collections are up 6.1 percent.
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