By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
State sees revenue rise
Placeholder Image
ATLANTA — Gov. Sonny Perdue announced recently that net revenue collections for March totaled $998,239,000 compared with $987,986,000 for March 2009, an increase of $10,523,000 or 1 percent. This is the first monthly increase in revenues since November 2008.
“While we are always cautious about reading too much into a single month’s revenue report, the March numbers are certainly encouraging,” Perdue said. “Springtime in Georgia always brings us the Masters and the Braves’ opening day, and I am hopeful we are also seeing the first buds of economic recovery.”
Gross tax collections were up $141 million last month, an increase of 7.9 percent. Most of the gross increase for March was returned to taxpayers in refund checks and to local jurisdictions through sales-tax distributions. The Department of Revenue processed 783,276 tax returns in March, an additional 132,000 compared with March 2009. This amounted to an additional $90.1 million in refund payments compared with last March. The department has processed 2.03 million tax refunds since January, 214,000 more than last year, totaling an additional $156 million in refunds returned to taxpayers.
Gross sales tax collections reported an increase of $7 million, or 1 percent up, from $717 million in March 2009 to $724 million in March 2010. Corporate income tax experienced a net increase of $12 million, or 9.8 percent, in March 2010 compared with March 2009.
The percentage decrease year-to-date for fiscal year 2010 compared with fiscal year 2009 is 11.5 percent.
Sign up for our e-newsletters