Morning dew on flowers at the Georgia State Capitol in Atlanta, Monday, March 28, 2016. BRANDEN CAMP/SPECIAL

Georgia revenue collections rebound 7 percent in March

Georgia tax collections continued to rebound in  March after a tough start to the year, making it more likely the state will be able to fund its $26.5 billion budget in fiscal 2019 without using reserves.

The fiscal year ends June 30.

Tax collections had been off for three months before making a comeback in February. Collections were up 7 percent in March.

Income tax collections were up 9 percent and net sales taxes 3.9 percent from March 2018. The two taxes make up the majority of state collections. Strong income and sales tax collection are typically seen as good signs for the economy.  

For the first nine months of the fiscal year, revenue collections are up 2.3 percent, not particularly strong growth for Georgia most years but likely enough to keep the state on track to meet its budget. 

Officials with Gov. Brian Kemp's administration expect that to happen. But even if they don't, Kemp has a cushion, since his predecessor, Nathan Deal, left reserves of $2.5 billion.

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