Deal: March revenues up 12.3 percent

Georgia’s net tax collections for the month of March totaled $1.32 billion for an increase of nearly $144.5 million, or 12.3 percent, compared to the month-ended March 2013, according to Gov. Nathan Deal.

Year-to-date, net tax revenue collections totaled $13.05 billion for an increase of nearly $705 million, or 5.7 percent, compared to the same point last year.

Individual Income Tax collections in March totaled $477.5 million, up from roughly $422.75 million in March 2013, for an increase of $54.75 million or 13 percent.

Gross Sales Tax collections declined $22 million, or -2.7 percent, on account of legislation that replaced the traditional automobile Sales Tax with a one-time Title Tax, while net Sales & Use Tax collections for March decreased $10.5 million,or -2.4 percent, compared to last year. Refunds were down $12.75 million while the adjusted distribution to local governments increased roughly $1.25 million compared to March 2013.

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