So Much For The Slow Returns

The state is collecting a good bit of money it seems.

Georgia revenues shot up for May, just weeks after Gov. Sonny Perdue cited slowing tax collections as a key reason he vetoed a $142 million property tax refund.Figures released Friday by the state Department of Revenue show that revenues rose a whopping 27.9 percent in May over the same month last year. That’s an increase of $466 million.The surge was driven largely by a 45.4 percent jump in income taxes collected.

2 comments

  1. Misunderestimitated says:

    I’ve spoken with a couple of legislators about this. There is a feeling that executive branch may have intentionally dragged their feet on cashing checks to make collections appear slow to allow for more cover for the Governor.

    It seems that the record collections for May are the result of cashing the income tax checks collected in April.

  2. IndyInjun says:

    MisU – They are DEFINITELY dragging out refunds too.

    Looking at the relative increase between sales tax and income tax WHAT ON EARTH ARE RICHARDSON AND FLEMING THINKING with their blind determination to move toward a sales tax?

    Conversely, think of how great the sales tax would have to be to make up this difference.

    Heretofore it had occurred here that the legislators, being insufficiently brave to take on the $20 billion unfunded healthcare liability were looking for a sneaky way to raise taxes under the guise of “reform” to make up for it.

    HR900 was just plain nutty, so much so that one questions whether they had any earthly idea of what they were putting their names to.

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