Revenues up in state, business creation varying in Bartow
by Mark Andrews
Aug 12, 2012 | 1254 views | 0 0 comments | 12 12 recommendations | email to a friend | print
Gov. Nathan Deal announced this week that Georgia’s net tax collections for the month of July totaled $1.32 billion for an increase of $91 million, or 7.4 percent, compared to the same period last year. In Bartow County, signs of the increased statewide tax collections are evident as industry grows.

“We are seeing more activity and we have seen ... five new companies in the industrial category that have intentions to open in Bartow County,” Economic Development/Executive Director for the Cartersville-Bartow County Department of Economic Development Melinda Lemmon said. “One company has leased a building and has already started hiring a few people ... they’ve wasted no time in hiring about 12 people so far and they’re shipping out product.”

She added, “We ought to see some public announcement from the companies themselves likely before October, but we’re very excited to welcome them appropriately to the community.”

Emerson City Clerk Robbie Swords said the city’s issuing and renewing of business licenses is comparable to last year at this period.

“With the economy the way it has been, we’ve had some [businesses] not renew or go out of business, but we’ve pretty much stayed the same,” Swords said.

Emerson City Manager Kevin McBurnett was positive about potential growth associated with LakePoint Sporting Community & Town Center.

“I believe there’s a certain amount of awe right now with the proposed LakePoint development. We’ve believe it’s sparked a lot of interest in this area, there are some people who are ready to step up, they’re waiting to see when LakePoint starts and I think when that happens, you’ll see a big boom in this area — not only Emerson, but in the Bartow County area,” McBurnett said.

According to the press release, for July, gross tax revenue deposits totaled $1.8 billion — an increase of $53.5 million, or 3.1 percent, compared to July of the previous fiscal year.

The following changes within the various tax categories led to the overall net revenue increase in July:

Individual Income Tax: Individual Income Tax collections for July totaled $698 million — up from $656.5 million in July 2011 — for an increase of $41.5 million, or 6.3 percent.

The following notable components within Individual Income Tax account for the increase:

• Individual Withholding payments were up $43 million, or 6.5 percent.

• Individual Income Tax refunds issued (net of voided checks) were up $8.25 million, or 22.8 percent.

• All other Individual categories, including Assessment payments, were up a combined $6.75 million.

Sales and Use Tax: Net Sales and Use Tax collections for July totaled slightly less than $460.5 million — up from $446.5 million in July 2011 — for an increase of $13.85 million, or 3.1 percent. The monthly Sales Tax distribution to local governments totaled $396 million, which was an increase of $5.3 million, or 1.4 percent, compared to last year.

Corporate Income Tax: Corporate Income Tax collections for July increased $42 million, or 174.2 percent, over the previous fiscal year when refunds issued during the month outstripped tax revenues for a negative net collections total of $24 million in July 2011.

The following notable components within Corporate Income Tax make up the increase:

• Corporate Tax refunds issued (net of voided checks) were down $36 million, or -73.4 percent.

• Corporate Estimated payments were up $8.75 million, or 68.2 percent.

• All other Corporate Tax categories combined for a decrease of $2.75 million in July.