Georgia’s tax collections for the month of July increased almost 7 percent when compared to the same time last year. The figures released Monday were the latest in a wave of positive growth for the state’s budget picture.
Gov. Nathan Deal’s office said that net tax collections for July totaled $1.41 billion, an increase of $88.5 million from last July. The growth came from soaring individual income tax collections and vehicle tag fees, which offset declining sales tax and corporate income tax revenues.
The motor vehicle fee collections totaled $62 million higher than the previous year, a result of the new law that phases out the annual “birthday tax” on cars. State fees collected have increased an average of $50 million per month since it became law earlier this year, but sales tax collections have declined.
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