The State of Georgia's net tax revenues were up 9.3% in October 2022 compared to October the year before.
According to a press release from Governor Brian Kemp, collections in October approached $2.71 billion, an increase of $230.2 million compared to the year prior.
Year-to-date, net tax revenue collections totaled $10.32 billion for an increase of $744 million, or 7.8% over FY 2022.
The increased revenues were the result of changes within several tax categories.
Individual income tax collections in October totaled $1.56 billion for an increase of $243.3 million, or 18.4 percent over FY 2022.
Additionally, Gross Sales and Use Tax Collections totaled $1.49 billion in October for an increase of $183.1 million, or 14 percent over FY 2022.
Corporate Income Tax collections increased by $11.4 million, or 12 percent over FY 2022.
Motor fuel taxes decreased by $165.6 million, or -99% compared to FY 2022.
Finally, Motor Vehicle Tag & Title Fee collections declined by $2.3 million, or -6.7%.
More information about Georgia's October Net Tax Revenues can be found here.
