Georgia’s revenues increased $117 million, or 8.1%, in January, compared to the same month in 2010, officials announced last week.
Department of Revenue figures through the first seven months of fiscal 2010 show net tax collections totaled $9.4 billion, an increase of $705 million, or 8.1%, over the same period last year.
The revenue growth was led by jumps in income, sales, and use taxes.
January 2011 income tax revenue was up $94 million, or 12.2%, compared to the previous year. Sales and use tax revenue increased $6 million, or 1.2%, over the same period.
“Our state continues its recovery as many Georgians who have suffered during this downturn return to employment and begin paying taxes again,” said Gov. Nathan Deal. “These increases over the past months have given our state critical resources to fund our educational priorities even as we face another shortfall due to the loss of stimulus funds.”
