Georgia ends fiscal year with revenues up $879M

Georgia flag
By  | 

Monday, July 14, 2014

ATLANTA (AP) -- A new report shows Georgia has ended the fiscal year with an increase in revenues of about $879 million, a 5.2 percent increase over the previous year.

Gov. Nathan Deal's office said Monday that Georgia's net tax collections for the fiscal year totaled nearly $17.9 billion, due in part to a large increase in corporate income tax collections. For the fiscal year, those corporate collections totaled $944 million, an increase of 18 percent over the previous year's total of $797 million.

Individual income tax collections also showed a modest increase of 2.4 percent.

Legislation eliminating the annual birthday tax in favor of a one-time auto sales tax resulted in a small drop in gross sales and use taxes and a substantial increase in motor vehicle fees.

(Copyright 2014. The Associated Press.)




 
Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus