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Wednesday, June 8, 2011 - 2:58pm

May Revenue Rise

Updated: 3 years ago.
State money managers reported Wednesday that revenues are up 8 percent for the fiscal year that ends June 30. (Image: GPB Stock)

Georgia revenues crept up 2.5 percent in May, the 11th straight month that tax collections in the state have risen.

State money managers reported Wednesday that revenues are up 8 percent for the fiscal year that ends June 30.

That's above the 4 percent growth that state budget writers predicted.

The figures released Wednesday show that individual income tax collections are down 0.6 percent for May from the same month the year before.

The figures come as the state hands out income tax refunds. Individual refunds issued are up $33 million or 32.2 percent.

Sales tax collections are up 4.4 percent — or $18 million — for May while corporate income taxes are down 32.7 percent, $2 million.