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Georgia's tax collections increase




Georgia's net tax collections for November totaled $1.35 billion, an increase of $88 million over November 2010.

Figures were released by Gov. Nathan Deal's office of communications.

Through five months of FY2012, net revenue collections totaled $6.7 billion year-to-date, an increase of $427.5 million over November FY2011.

Individual Income Tax collections for November totaled $679 million, up from $662 million in November 2010, for an increase of $17 million or 2.6 percent.

The following notable components within Individual Income Tax account for the increase: Individual income tax return payments increased $3.5 million, or 32.2 percent; individual income tax refunds issued were down $26.5 million, or 44.7 percent; individual withholding payments were down $2 million, or 0.2 percent; individual tax assessments were also down $11 million, or 88.1 percent.

Net sales and use tax collections for November totaled $451 million, up from $393 million in November 2010, an increase of $58 million or 14.8 percent. The monthly sales tax distribution to local governments totaled $346.5 million, an increase of $8.5 million or 2.5 percent over last year.

Corporate income tax collections for November rose by $4.1 million or 65 percent, up from $6.4 million in November 2010. All other corporate tax categories combined for a decrease of $4.6 million, or 51.1 percent.



Web posted on Thursday, December 15, 2011













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