State News

September 11, 2013

State revenue growth slows, up 2 percent for August

ATLANTA — A report shows Georgia’s revenue growth slowed in August with the state collecting $1.35 billion in taxes.

That represents a 2 percent increase compared to August 2012. In July, Georgia saw an increase of 6.7 percent in the year-to-year comparison and June’s increase was 5.9 percent.

Gov. Nathan Deal reported Tuesday that individual income tax collections for August totaled $699.5 million. A reason cited for the decrease was that individual withholding payments were down 3.6 percent.

The governor’s office says gross sales tax collections also declined $37.5 million, or 4.5 percent compared to August 2012. It noted the collections had been reduced while motor vehicle fees have increased under the system that replaced the old birthday car tax.

Meanwhile, corporate income tax collections increased nearly $3.5 million in August.

 

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