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September 8, 2010

State revenues post a gain

Associated Press Associated Press

ATLANTA — Georgia’s economy is showing signs of life as tax collections for August posted a 12.7 percent gain, the third straight month they’ve risen after 17 months of decline.

Gov. Sonny Perdue announced on Wednesday that collections rose $133 million in August above the same month the year before.

For the fiscal year that began July 1, revenues are up 8.6 percent so far.

For August, individual income taxes — considered by many the most important economic indicator — jumped just over 24 percent. Sales tax collections rose 4.8 percent while corporate income tax collections tumbled 158 percent, with refunds representing more money than was taken in.

 

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