State of Georgia tax collections improve with strong economy

After a relatively flat December, state revenue collections rebounded last month as both the income and sales tax take improved.

Overall collections were up 7.5 percent over January 2016. For the first seven months of the fiscal year, collections are up 4.6 percent, or $568 million.

Improved income and sales tax collections are generally seen as a sign of a growing economy. For January, individual income tax collections were up 11 percent, and gross sales tax collections improved 3.3 percent.

The corporate income tax take was down 10.5 percent and it is lower for the fiscal year.

Collections were up only 0.7 percent in December.