Deal: February revenues up 7 percent

ATLANTA — Georgia’s net tax collections for February 2012 totaled $765 million, an increase of nearly $50 million or 7 percent compared to February 2011.

With eight months of FY2012 now completed, net revenue collections totaled almost $10.6 billion year-to-date, an increase of $471 million or 4.7 percent compared to the same period last year.

“February’s numbers saw positive trends, as we continue to move in the right direction,” Gov. Nathan Deal said in a news release. “With revenues up and unemployment down, Georgians have to like what they’re seeing, even though there’s still much work to do.”

Despite a very busy start to the Income Tax refund season, Georgia’s net tax revenues held strong. Gross tax revenues, totaling $1.75 billion, were up $151 million compared to last year.

Additionally, the Sales Tax revenue continued to see steady growth and Individual Income Tax withholding also showed strength for the month.