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Deal: Tax collections on the rise

Georgia Gov. Nathan Deal

Georgia Gov. Nathan Deal

ATLANTA — Georgia tax collections for February were up 4 percent from February 2012 and year to date are 5.6 percent above last year, Gov. Nathan Deal announced Wednesday.

Deal said net tax collections for February totaled $796 million, an increase of nearly $31 million compared to February 2012. For the first eight month of the fiscal year, net tax collections are up almost $595 million compared to the first eight months of FY 2012.

In examining major tax categories, Deal’s office found that:

• Individual income tax collections in February totaled $207.5 million, down from $235.75 million in February 2012, a decrease of 12 percent year over year;

• Individual withholding payments were down $46 million, a drop of 5.9 percent;

• Individual income tax refunds were up $2 million (0.4 percent);

• All other income tax categories combined for an increase of $19.75 million;

• Net sales and use tax collections for February totaled $446.25 million, up $34 million (8.3 percent) compared to last year;

• Gross sales tax collections increased $23 million (3 percent) compared to FY 2012;

• Distribution to local governments fell $6.5 million to $348 million and sales tax refunds for the month decreased $4.5 million relative to February 2012;

• Corporate income tax collections for February increased $31 million (92.3 percent) compared to last year’s net collections of $33.5 million;

• Corporate tax refunds were down $21.25 million, a decrease of 40.8 percent;

• Corporate estimated payments were up $7.75 million, 68.1 percent;

• All other tax categories combined for an increase of $2 million.

Comments

kevin 1 year, 1 month ago

So are we going to squander the extra cash just because the state collected more of it!

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skalawag 1 year, 1 month ago

Define squander.

And it is not extra cash. It's more cash today than you had the day before.

Don't forget we still have to pay for the obligations that the State is on the hook for. Just because we cut payments for things it doesn't mean the need for those things goes away.

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