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Georgia revenues up for July | News

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Georgia revenues up for July
Georgia revenues up for July

ATLANTA -- Georgia started the fiscal year with some good economic news.

Revenues are up 7.3 percent for July from the same month the year before. That's an increase of $84 million.

July is the first month of the state's 2012 fiscal year.

Gov. Nathan Deal said he's encouraged by the positive results but will continue to watch state tax collections closely.

The biggest jump for July was individual income tax collections, which rose by 22.5 percent.

But sales tax had a net decrease of slightly more than one percent, a dip of $5 million. And corporate income tax collections plummeted nearly 228 percent.

Georgia ended the 2011 fiscal year reporting eight percent growth, beating budget projections for the year. That came after several years of sluggish tax collections.