Welfare Watch – December 13, 2009 – November Budget Numbers Provide More Bad News

While reports nationally suggest that the recession is over, the revenue numbers in Georgia do not suggest that the recession is over in Georgia. 

Governor Sonny Perdue announced today that the net revenue collections for the month of November 2009 (Fiscal Year 2010) totaled $1,188,879,000 compared to $1,419,543,000 for November 2008 (FY09), a decrease of $230,664,000 or 16.2 percent.  The percentage decrease year to date for FY10 toFY09 is 15.4 percent. 

Some specifics of the Revenue Reports are:

·         Both individual income tax and sales and use tax revenue were down by more than 15%. 

·         Corporate income tax collections were down by more than 25%.

·         People seem to be smoking and drinking more; both cigarette taxes and alcohol sales tax were both up slightly.

November 2009 - Financial Reports Press Release Package can be found on the DOR website.

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                            Normer Adams, Editor
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