Ga. revenues up 1 pct; first increase since Nov. 2008

For the first time since November 2008, Georgia officials are reporting an increase in the state’s net revenue comparing March 2010 to March 2009.

Today Gov. Sonny Perdue announced the state’s revenue collections for March were 1 percent ahead of last year.

Gross tax collections were up $141 last month, an increase of 7.9 percent. Also, gross sales tax collections were up $7 million from March 2009 to a total of $724 million in March 2010.

“While we are always cautious about reading too much into a single month’s revenue report, the March numbers are certainly encouraging,” Perdue said in a news release. “Springtime in Georgia always brings us the Masters and the Braves’ opening day, and I am hopeful we are also seeing the first buds of economic recovery.”

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