November revenues for the state continued to follow the trend of the last 11 months although the year to date line appears to be continuing to flatten out.
November revenues
(by percentage)
Total revenues: -16.2
Individual income taxes: -16.7
Sales taxes – state portion: -14.8

Motor fuel taxes:
Excise taxes (by gallon): +1.2
Sales taxes: -29.4
Corporate taxes: -$8.1 million
Tobacco taxes: +6.5
Alcohol beverage taxes: -1.6
Motor vehicle tag/title fees: -1.0

Year to date – July-November cumulative over 2008
Total revenues:  $5.8 billion (total received to date) or -$1 billion, -15.4 percent
Individual income taxes: $3 billion (total received to date) or -$541.1 million, -15.2 percent
Sales taxes – state portion: $1.99 billion (total received to date) or -$361.5 million, -15.4 percent
Motor fuel taxes:
Excise taxes (by gallon): +2.4 percent
Sales taxes: -$66.1 million or -30.9 percent
Corporate income taxes:  -$56.6 million or -25.2 percent
Tobacco taxes: +0.6 percent
Alcohol beverage taxes: +1.1 percent
Motor vehicle tag/title fees:  -2.5 percent

Brief outlook for balance of FY 2010
If revenues equal 2008-2009 numbers for the rest of the fiscal year, the 2010 budget is $1.26 billion under the original 2010 revenue estimate.
Given the July reduction totaling $900 million by the governor, additional cuts or one-time funds will have to make up the $360 million shortfall.
This figure depends on two assumptions:
1. Strong Christmas sales
2. The balance of the seven months of FY2010 equals every month’s collections of one year ago.

Welcome new Georgia citizens Caroline and Addilyn Kullberg.  Arrived December 11, 2009 weighing 5 pounds, 15 ounces, and 4 pounds, 9 ounces. Proud grandparents are Jack and Ruth Ann Hill.

I may be reached at
234 State Capitol, Atlanta, GA 30334
(404) 656-5038 (phone)
(404) 657-7094 (fax)
E-mail at Jack.Hill@senate.ga.gov
Or call toll-free at
1-800-367-3334 day or night
Reidsville office: (912) 557-3811