Georgia income, sales tax collections soar in July


State sales and income tax collections improved again in July, giving officials hope of a continued solid economy during the new fiscal year.

The state ended fiscal year 2017 on June 30 with a $930 million increase in tax revenue over the previous year. The 4.5 percent increase was more than enough to fund the state’s $24 billion budget, so there should be a surplus for the year when the books are officially closed

Gov. Nathan Deal’s office on Monday reported a 7.1 percent increase in collections for July over July 2016, a $113 million bump. Income tax collections improved 10.4 percent and the sales tax take 5.1. Gas taxes, another big source of revenue for the state, were off slightly.

The news comes a week after Deal’s budget director told state agencies not to expect much in the way of extra spending next year, as the rising cost of teacher pensions, schools, public health care costs and transportation projects will likely eat up almost all new revenue.

Nonetheless, the news of gains in July was good for Deal, who vowed to leave his successor at least a $2 billion rainy day reserve when he leaves office in 2019. The governor met that last summer, and he has now reset his goal to $2.5 billion. That amounts to about what it would take to run the state for almost a month.


Reader Comments ...

Next Up in Georgia Politics

Mayor Reed puts airport exec on leave amid concerns over contracts
Mayor Reed puts airport exec on leave amid concerns over contracts

A high-ranking official at Hartsfield-Jackson International Airport has been placed on administrative leave after the mayor’s office learned that his wife is doing business with an airport subcontractor. A spokeswoman for Mayor Kasim Reed said Friday that the action was taken against Cortez Carter, deputy general manager at the airport, whose...
The Week: Blank says kneeling should not be seen as disrespect
The Week: Blank says kneeling should not be seen as disrespect

Atlanta Falcons owner Arthur Blank offered his own interpretation of protests NFL players have staged this season by kneeling during the national anthem. “It’s very clear that the players have no interest whatsoever in being disrespectful to the flag or the anthem,” Blank told GPB’s Ricky Bevington this past week. &ldquo...
Dunwoody man goes from battling brain cancer to DNR hunting consultant
Dunwoody man goes from battling brain cancer to DNR hunting consultant

When Chip Madren was in seventh grade, doctors told his family the type of brain cancer he had gave him about two more years to live. It was his love of hunting that caused him to fight for his life, his mother said, after being promised a trip to Montana when he got better. “He was not fighting well up until that time,” Lea Madren said...
Move for freer political speech divides Georgia’s religious community
Move for freer political speech divides Georgia’s religious community

It’s a regular ritual on Sundays before big votes: Candidates fan out to churches across the state, take prominent perches near the pulpit and receive warm applause from parishioners. And preachers inevitably shower them with kind words, though they stop short of much more lest they cross an invisible line. That’s exactly what happened...
Georgia’s craft brewers would win big in Senate tax bill
Georgia’s craft brewers would win big in Senate tax bill

The U.S. Senate’s new tax bill would give Georgia’s small craft breweries some holiday cheer months after a watershed state law provided a major economic boon to beer makers and liquor distillers. The would-be Christmas present comes in the form of a proposed tax decrease, which industry advocates say would put thousands of dollars into...
More Stories