State collections grew in August in yet another sign that Georgia’s economy remains fairly strong.
Overall collections were up 6.8 percent in August, with big gains in the state income tax take and improvement in sales tax collections. Those two taxes generally measure income growth and spending.
Personal income tax collections were up 9.5 percent in August. The state collects more money from personal income taxes than any other tax or fee.
The revenue report was more good fiscal news for Gov. Nathan Deal’s administration, which last week reported that the state’s reserves had hit $2 billion. One of Deal’s top priorities has been to leave office in 2019 with at least $2 billion in the state’s savings account.
After two months of the fiscal 2017, tax collections are up 4.3 percent, or about $134 million.
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