Wed., November 10, 2010 5:40pm (EST)

Tax Collections Rise
By Associated Press
Updated: 3 years ago

ATLANTA  —  
Georgia's tax revenue colletions are up 7.6 over last fiscal year. (photo courtesy J-D-R)
Georgia's tax revenue colletions are up 7.6 over last fiscal year. (photo courtesy J-D-R)
Georgia's economy continued to show signs of improvement as state tax collections rose in October, the fifth straight month they have climbed.

State officials reported Wednesday that tax collections for the month are up 8.2 percent from the same month a year before.

That's an increase of almost $93 million.

For the fiscal year that began July 1, revenues are up 7.6 percent.

That beats the 4 percent growth that Gov. Sonny Perdue predicted in the state budget.

Individual income tax collections - considered an important economic indicator - rose 4.1 percent.

Sales tax collections jumped 7.4 percent.

Corporate income taxes dipped 10.5 percent.

Motor fuel taxes increased 14.1 percent.

The five straight months of growth follows 17 months of decline.


Contributors: Rickey Bevington