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State's March revenues fall 14.5 percent vs. 2008
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State revenues continued their downward spiral in March, down 14.5 percent from a year earlier.

Officials with the Georgia Department of Revenue said the state collected $988 million last month, compared with $1.15 billion in March 2008.

For the year, revenues are down 8 percent.

State sales tax collections, the state’s largest source of revenue, were down 14.4 percent. For the year, sales tax collections are down 6.3 percent.

Motor fuel tax collections in March were down 28.6 percent and corporate income taxes were down 23.6 percent.

The report showed Georgians are drinking more and smoking less. Alcohol taxes were up 8 percent, while tobacco taxes were down 3 percent.

Individual income tax collections were down 18.8 percent.