September revenues up 3.9 percent in Georgia - WRCBtv.com | Chattanooga News, Weather & Sports

September revenues up 3.9 percent in Georgia

Posted: Updated:

ATLANTA, GA (WRCB) -- Gov. Nathan Deal announced Thursday that Georgia's net tax collections for the month of September totaled $1.59 billion for an increase of $59.5 million, or 3.9 percent, compared to September 2011.

Through the first quarter of this year, net revenue collections totaled $4.2 billion — an increase of $175 million, or 4.3 percent, compared to last year.

"This trend of revenue growth for the ninth consecutive quarter alongside several other solid economic indicators proves we are moving in the right direction," said Deal. "Because there is still a lot of room for improvement, we will maintain a cautiously optimistic economic outlook for the state over the next several months."

The following changes within the various tax categories led to the overall net revenue increases in September:
 
Individual Income Tax: Individual Income Tax collections for September totaled $827 million — up from $812 million in September 2011—for an increase of $15 million, or 1.9 percent.

The following notable components within Individual Income Tax account for the increase:
 
• Individual Withholding payments were up $24 million, or 3.7 percent
• Individual Estimated payments were up $1.25 million, or 0.9 percent
• Individual Income Tax refunds (net of voided checks) were down $3.75 million, or -11 percent
• All other Individual Income Tax categories combined for a decrease of $14 million

Sales and Use Tax: Net Sales and Use Tax collections for September totaled $459.5 million — up from $441 million in September 2011 — for an increase of $18.5 million, or 4.2 percent. The monthly Sales Tax distribution to local governments totaled nearly $389 million, which was a decrease of $6.5 million, or -1.6 percent, compared to last year's distribution.

Corporate Income Tax: Corporate Income Tax collections for September increased $17 million, or 12.8 percent, from $133 million in September 2011 to $150 million in September of this year.

The following notable components within Corporate Income Tax make up the increase:
• Corporate Tax Estimated payments were up $41.5 million, or 43.4 percent
• Corporate Tax Return and S-Corp payments were down a combined $29.5 million
• All other Corporate Tax categories (including refunds) combined for an increase of $5 million

  • NewsMore>>

  • Supt. Smith gets above average report card from School Board

    Supt. Smith gets above average report card from School Board

    Friday, August 22 2014 11:33 PM EDT2014-08-23 03:33:12 GMT
    Rick SmithRick Smith
    For the third straight year, Hamilton County School Board members have given their Superintendent an "above average" report card. According to scores released by Board Chairman Mike Evatt, Smith ranks highly for his choice of attire, his personal ethics, and communicating with his staff and the public. At the lower end of the scale, Board members said Smith needs to improve on keeping them informed of personnel moves, clarifying his goals, and negotiating contract details with teachers. On a ...More
    For the third straight year, Hamilton County School Board members have given their Superintendent an "above average" report card. According to scores released by Board Chairman Mike Evatt, Smith ranks highly for his choice of attire, his personal ethics, and communicating with his staff and the public. At the lower end of the scale, Board members said Smith needs to improve on keeping them informed of personnel moves, clarifying his goals, and negotiating contract details with teachers. On a ...More
  • Person shot on Walker Avenue

    Person shot on Walker Avenue

    Friday, August 22 2014 11:22 PM EDT2014-08-23 03:22:53 GMT
    Chattanooga Police are investigating a shooting on Walker Avenue.More
    Chattanooga Police are investigating a shooting on Walker Avenue.
    More
  • #FNF3 Scoreboard Week-0, Aug. 22

    #FNF3 Scoreboard Week-0, Aug. 22

    Friday, August 22 2014 11:14 PM EDT2014-08-23 03:14:21 GMT
    Channel 3's Friday Night Football is back in its 30th year! #FNF3More
    Channel 3's Friday Night Football is back in its 30th year! #FNF3More
Powered by WorldNow
Can't find what you're looking for?

WRCB-TV
900 Whitehall Road
Chattanooga, TN 37405
(423) 267-5412

WRCB Jobs EEO | FCC Public Files

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WRCB. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.