November was another down month for tax collections in Georgia, according to information released Friday by Gov. Brian Kemp's office.
The State of Georgia’s net tax collections for the month totaled almost $1.81 billion for a decrease of $22.4 million, or -1.2 percent, compared to Fiscal Year (FY) 2019 when net tax collections totaled $1.83 billion. Year-to-date, net tax revenue collections totaled $9.62 billion for a decrease of roughly $33.6 million, or -0.3 percent, compared to FY 2019.
Kemp has pushed for spending cuts since shortly after taking office in January, citing indicators that pointed to an economic slowdown for the state. Legislators are expected to take up budget cuts when they return to Atlanta for the 2020 legislative session next month
The November numbers break down as follows per a report from the Governor's office:
Individual Income Tax: Individual Income Tax collections for November declined by $31.3 million, or -3.4 percent, down from last year when net Individual Tax revenues totaled just over $932 million.
• Individual Income Tax refunds issued (net of voided checks) decreased by $8.9 million or -14.2 percent.
• Individual Withholding payments declined by $53.1 million, or -5.6 percent, compared to last year.
• Individual Income Tax Non-Resident Return payments were up $8.3 million, or 157.1 percent.
• All other Individual Tax categories, including Estimated Tax payments, were up a combined $4.6 million.
Sales and Use Tax: Gross Sales and Use Tax collections increased by $45.2 million, or 4.5 percent, from last year’s total of $1.01 billion. Net Sales and Use Tax increased by $33.6 million, or 6.9 percent, compared to FY 2019 when net Sales Tax revenue totaled $488.7 million. The adjusted Sales Tax distribution to local governments totaled approximately $531 million for an increase of $9.3 million, or 1.8 percent, over the previous year. Lastly, Sales Tax refunds increased by $2.3 million, or 165.1 percent, compared to November 2018.
Corporate Income Tax: Net Corporate Income Tax collections decreased by $23.1 million, or -85.1 percent, compared to FY 2019 when net Corporate Tax revenues totaled nearly $27.2 million in November.
• Corporate Tax refunds issued (net of voided checks) increased by $19.7 million or 175.9 percent.
• Corporate Income Tax Return payments were down $6.6 million, or -112.8 percent, from last year.
• All other Corporate Tax payments, including Estimated Tax payments, increased by $3.2 million.
Motor Fuel Taxes: Motor Fuel Tax collections for the month fell by roughly $0.8 million, or -0.5 percent, from last year’s November total of $158.4 million.
Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for November were down $4.7 million, or -15.1 percent, compared to FY 2019 when Motor Vehicle fees totaled roughly $30.9 million. Title Ad Valorem Tax (TAVT) collections also declined by $14.8 million, or -20.6 percent, compared to last year’s total of $71.7 million.
