State tax collections have continued their upward trajectory, growing 7 percent in November compared to the same month in 2010, Gov. Nathan Deal's office said Friday.
For the first five months of the fiscal year, state revenues are up 6.8 percent over 2010, as the state collected $6.7 billion in taxes and other fees.
In November, individual income tax collections were up just 2.6 percent over November 2010, while sales tax collections grew by 14.8 percent and corporate tax collections grew 65 percent.
The current growth in tax collections will help refill reserves, which were depleted during the recession. But economists and budget analysts have said it will take years of growth to make up for previous spending cuts and to be able to pay for the increasing costs of education and health care in a growing state.
About the Author
Keep Reading
The Latest
Featured
