The state began its fiscal year on a financial uptick in July.
Tax collections were up 3.1 percent over July 2018, or about $56 million. The rate of increase is about what the state needs to hit its budget for fiscal 2020, which began July 1.
Personal income tax collections were up 8.1 percent and the net sales tax take 2.1 percent. The state gets most of its revenue from income and sales taxes to fund its $27.5 billion budget.
The state is coming off an inconsistent fiscal 2019. It made its budget for the year, but the administration of Gov. Brian Kemp was concerned enough about the possibility it might not that it took a month off from paying into the state health insurance program for 660,000 teachers, state employees, retirees and their dependents. Taking a month off from payments saved the state and local school districts about $235 million.
About the Author
Keep Reading
The Latest
Featured
