BRADENTON, Fla. - Georgia saw revenues increase by 12.3% in March compared to March 2013, the ninth consecutive month year-over-year state tax collections have gone up, according to the Department of Revenue.
Net tax collections for March totaled $1.32 billion, an increase of about $144.5 million. In February, revenues were up by 5.3% year-over-year, and January collections increased by 4.4% over the previous year.
In the nine months of fiscal 2014, net tax revenue collections have totaled $13.05 billion, an increase of $705 million or 5.7% compared to the same period in 2013. The state's fiscal year begins July 1.
In March, revenues increased in some major categories except sales and use taxes, which declined $22 million or 2.7% due to legislation that replaced the traditional automobile sales tax with a one-time title tax, state officials said. Refunds were also down $12.75 million.
Individual income tax collections in March totaled $477.5 million for an increase of $54.75 million or 13%.
Corporate income taxes rose by $39 million or 22.3% compared to 2013 when those revenues totaled about $175 million.
Motor vehicle tag and title fees for March were just under $91.5 million, which was $60.75 million higher than the previous year due to changes in state law.
