Georgia’s net tax collections are up $84 million, or 7.3 percent, compared to last year, Gov. Nathan Deal announced Tuesday.
PDF: July Revenue Numbers
“The first month of this fiscal year has continued the trend of year-on-year comparison growth,” said Deal. “I am encouraged by the results but will watch Georgia’s revenue numbers closely to ensure we maintain a conservative state budget. There’s much uncertainty in the market at the moment, and I’m committed to preparing our state government for whatever the global economy throws our way,” he said in a news release.
Deal attributed the uptick to the individual income tax collection increase. Individual income tax collections went from $536 million to $656.5 million in one year, a 22.5 percent increase.
He added that net sales tax collections are down 1 percent since last year.