General fund collections in February plummeted to $629.5 million compared to $965.8 million in February 2008 — a decrease of 35%, the Georgia Department of Revenue reported last Friday.

State sales tax collections of $388.8 million were down 24%; individual income tax revenue collections were down to $109.4 million, a decline of 63.6%; corporate tax collections were $6.3 million, down 66%; and motor fuel tax revenues were $62.5 million, down 25.4 %.

In the first eight months of the fiscal year, Georgia has collected $10.6 billion in revenues for the general fund, a decrease of 7.3% compared to the same period in fiscal 2008.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.