There is finally some good news concerning revenue numbers for the state.
Governor Sonny Perdue’s office says tax collections for March rose by about $10.5 million from one year ago. It represents a rise of 1 percent, and is the first monthly increase in revenues since November 2008.
Gross collections are up $141 million, an increase of 7.9 percent.
In a statement, Governor Sonny Perdue said “While we are always cautious about reading too much into a single month’s revenue report, the March numbers are certainly encouraging. Springtime in Georgia always brings us the Masters and the Braves’ opening day, and I am hopeful we are also seeing the first buds of economic recovery.”
Gross collections are up $141 million, an increase of 7.9 percent. Most of the gross increase for March was returned to taxpayers in refund checks and to local jurisdictions through sales tax distributions.
The Department of Revenue processed 783,276 tax returns in March, an additional 132,000 compared to March 2009. This amounted to an additional $90.1 million in refund payments versus last March.