ATLANTA - Georgia tax collections were down in August for the 14th month in a row, but the governor's economic adviser said there are signs the state's economy is turning the corner. <br>
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Harry Thomassen said, ``It appears now we're past the bottom and going up. Not fast, not radically, but we are moving up.'' <br>
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He commented after the State Revenue Department released a report which showed tax collections for the month were down $119.9 million, or 11.3 percent, from August 2001. <br>
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That means that for the first two months of the new budget year which began July first, collections are off a total $236 million, or 11.5 percent, from the first two months of last budget year. <br>
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But Thomassen said the figures are misleading because of a change in procedure which allows the revenue agency to collect and account for taxes faster than in the past. <br>
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The actual difference between the first two months of this year compared to last year, he said, is $42 million, not $236 million. <br>
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Thomassen said it was just a timing thing. <br>
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In part, Thomassen said he believes the state economy has turned the corner because of a modest increase in employment. <br>
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After a dip in employment in state jobs, Thomassen said he now sees some of those positions being refilled, an important economic sign that ``we have bottomed out.'' <br>
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He said consumer spending also is increasing and businesses are spending more on maintaining computers and software.
http://accesswdun.com/article/2002/9/190306
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