State revenues tick up in August

Gov. Nathan Deal said Tuesday that state tax collections for August rose $24.5 million, or 1.9 percent, compared to August 2011.

For the fiscal year, which began July 1, state revenues have totalled $2.64 billion, or 4.6 percent more than a year ago.

For August, individual income tax collections slowed while increasing just 0.2 perent, or $1.5 million. While individual withholding was up 2.5 percent, net refunds issued also grew while estimated payments dropped.

State sales and use tax collections grew 3.1 percent to $447 million, while corporate income taxes were up more than 200 percent compared to August 2011. Deal’s office noted that refunds issued in August 2011 when refunds outstripped revenues.