Georgia’s net tax collections for August totaled $1.3 billion, an increase of $108 million or 9.1% compared to the same month a year ago.
“The second month of fiscal year 2012 has continued the trend of year-on-year comparison growth,” Gov. Nathan Deal said. “I am particularly encouraged by this month’s results considering the global economic turbulence we are witnessing. It is with that turbulence in mind that I remain cautious about the months ahead.”
Individual income tax collections for August 2011 totaled $707 million, up from $624 million in August 2010 for an increase of $83.5 million, or 13.4%.
Sales and use tax collections totaled $433.5 million, up from $419 million in August 2010, for an increase of $14.5 million or 3.4%.
The current month’s sales tax distribution to local governments also increased $27.5 million, or 7.3% compared to last year. Corporate income tax revenue totaled $11.8 million, up 14.23%, and tobacco taxes were $24.5 million, up 30.7%.
On the downside, property tax revenues were $856,000, down 24.6%, while alcohol tax collections were $10.3 million, down 24.1%.
Georgia began the 2012 fiscal year in July with collections up by 7.3% compared to the previous year.
