State revenues dip slightly in November

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Georgia’s tax collections were down slightly in November, falling 0.7 percent below the amount of revenues reported for November 2011.

Monthly revenues were $1.347 billion, a $9 million drop from the same month a year ago.

While individual income taxes increased by 3.3 percent, net sales tax revenues declined by 3.6 percent. Corporate income tax revenues were down by a whopping 191 percent.

For the first five months of fiscal year 2013, the combined revenue collections were $6.96 billion, a 3.7 percent improvement over the same period last year when only $6.71 billion rolled in. That’s less than the 5 percent anticipated growth on which the budget is based.

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Tags: state revenues