ATLANTA - Governor Nathan Deal announced today that 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. 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.
Changes within the following major tax categories explain the net tax revenue increase in March:
Individual Income Tax: 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.
The following notable components within Individual Income Tax combine to make up the net increase: