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How much money does the state of Georgia make?

How much money does the state of Georgia make?

Georgia’s 2021 fiscal year runs July 1, 2020 through June 30, 2021. The total budget available to the state is $48.2 billion. That includes $25.9 billion in state funding, $15.1 billion in federal funding and $7.1 billion in agency funds.

What is the largest percentage of Georgia’s budget spent on?

In Georgia in fiscal year 2015, 53.2 percent of total tax revenues came from income taxes. Education accounted for 43.3 percent of state expenditures in fiscal year 2015, while 21.9 percent went to Medicaid.

How much is budget of Georgia?

Economy of Georgia (country)

Budget balance −3.8% (of GDP) (2017 est.)
Revenues 4.352 billion (2017 est.)
Expenses 4.925 billion (2017 est.)
Economic aid ODA $626.0 million USD (2010)

What is the largest source of revenue for the state of Georgia?

Income taxes
Income taxes are the cornerstone of Georgia’s revenue system, accounting for half of all state funds.

Is the state of Georgia in debt?

U.S. Census Bureau

[hide]Total fiscal year 2015 state debt, U.S. Census Bureau
State Total state debt Per capita debt ranking
Georgia $13,247,675,000 47
Alabama $8,969,350,000 41
Florida $33,315,277,000 45

How much revenue does Atlanta make?

The City of Atlanta’s General Fund has received between $687M – $717M in revenue per year since FY17 with the largest sources of funds being property tax (~30%), licenses & permits (~18%), local options sales tax (~17%) and public utility, alcoholic beverages & other (~16%).

Which state has the largest budget?

Among the states, Alaska had the highest per capita state and local spending in 2019 at $17,596, followed by New York ($15,667) and Wyoming ($15,107).

Is Georgia a rich or poor state?

4) Georgia Almost two million Georgians currently live below the poverty line, and 21% of residents ages 18 to 24 were not in school or working as of 2012.

Why is Georgia so poor?

Georgia is a unique country in that it is at a crossroads where Europe and Asia meet. Though rich in history and culture, the country has an unemployment rate of 12 percent, a registered poverty rate of about 11 percent and a relative poverty rate of about 20 percent.

Which US state generates the most revenue?

state of California
In the fiscal year of 2021, the state of California collected a total of 248.19 billion U.S. dollars in tax revenue, the highest of any state.

How much debt is Atlanta in?

Atlanta only has $3.2 billion of assets available to pay bills totaling $3.9 billion. Because Atlanta doesn’t have enough money to pay its bills, it has a $678.3 million financial hole. To erase this shortfall, each Atlanta taxpayer would have to send $4,800 to the city.

What restrictions are placed on state and local government debt in Georgia?

Generally, the Georgia Constitution limits indebtedness to 10% of the assessed value of all taxable property located within a municipality (Ga.

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