March revenues were flat

[private]
Georgia tax collections in March were virtually unchanged from last year, registering only a 1.1 increase from the revenue figures for March 2012.

“While the state’s net revenues for March were not as strong as in recent months, this improvement marks the 11th consecutive quarter of net revenue improvement dating back to 2011,” Gov. Nathan Deal said.

Overall revenues for the month were $1.17 billion, which was just a $12.6 million improvement over March 2012. For the year to date, revenue collections are up by 5.2 percent to $12.35 billion.

One of the state’s largest revenue sources, the individual income tax, barely nudged up by $390,000 for March compared to the same month a year ago – a total of $422.6 million.

Net sales tax collections actually declined by 0.2 percent for the month at $427.4 million (it was $428.3 million in March 2012).

Motor fuel tax collections slumped by 16.5 percent to $75.3 million, where they had been $90.2 million a year ago.

About the only areas of growth were in motor vehicle tag fees (up by 18.3 percent to $30.6 million) and corporate income taxes (increasing 4.4 percent to $174.9 million).

© 2013 by The Georgia Report

[/private]

Tags: Nathan Deal , state revenues , tax collections