BRADENTON, Fla. Georgia Gov. Nathan Deal said net tax collections for October totaled $1.46 billion, an increase of $81.75 million or 5.9% percent compared to October 2012.
Since the July 1 beginning of the fiscal year, net tax revenue collections totaled $5.94 billion, an increase of $329.25 million or 5.9% compared to the same period year last year.
Corporate income tax revenues showed the largest improvement in October with $34.5 million in collections, an increase of 862.1% compared to last year. Individual income tax collections were $767.75 million, up 1.4%.
Gross sales tax collections declined $25.5 million and were 3.1% less compared to last year. The decline is attributed to a state law change that established an ad valorem tax on car titles, which replaced the automobile sales tax.
The state law, which went into effect in March, resulted in $88 million in motor vehicle fee collections during October, which was $59.25 million higher than the previous year.