State of Georgia’s tax collections fell 10 percent during May

The state of Georgia said Monday its May 2020 net tax collections fell 10 percent, or $178 million, compared to May last year as the Covid-19 pandemic shut down the economy. That follows a nearly 36 percent drop in April. Georgia’s May 2020 revenue totaled $1.58 billion, down from nearly $1.76 billion in May 2019. For the state’s fiscal year to date (which runs July 1, 2019, through June 30, 2020), net tax collections totaled $20.81 billion, down roughly $857.9 million, or 4 percent compared…

The state of Georgia said Monday its May 2020 net tax collections fell 10 percent, or $178 million, compared to May last year as the Covid-19 pandemic shut down the economy. That follows a nearly 36 percent drop in April. Georgia’s May 2020 revenue totaled $1.58 billion, down from nearly $1.76 billion in May 2019. For the state’s fiscal year to date (which runs July 1, 2019, through June 30, 2020), net tax collections totaled $20.81 billion, down roughly $857.9 million, or 4 percent compared…

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