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Deal says tax collections up across the board for September

By AccessWDUN Staff
Posted 1:57PM on Thursday 4th October 2018 ( 6 years ago )

Gov. Nathan Deal announced Thursday afternoon that Georgia’s net tax collections for September totaled $2.23 billion, for an increase of $153.1 million, or 7.4 percent, compared to last year when net tax collections totaled nearly $2.08 billion.

Deal said year-to-date, net tax revenue collections totaled $5.81 billion, for an increase of $329.9 million, or 6 percent, compared to September 2017.

The changes within the following tax categories contributed to the overall net tax revenue increase in September:

Individual Income Tax: Individual Income Tax collections for September totaled nearly $1.16 billion, for an increase of $105.6 million, or 10 percent, compared to last year when Individual Income Tax collections totaled $1.05 billion.

The following notable components within Individual Income Tax combine for the net increase:

Sales and Use Tax: Gross Sales and Use Tax collections for the month totaled roughly $1.01 billion, for an increase of $68.6 million, or 7.3 percent, compared to September 2017. Net Sales and Use Tax totaled $514.1 million, for an increase of $33.6 million, or 7 percent, compared to last year when Net Sales and Use Tax totaled $480.5 million. The adjusted distribution of sales tax to local governments totaled $494.1 million, for an increase of $43.1 million, or 9.6 percent, over last year. Finally, sales tax refunds decreased by $8.1 million, or -56.2 percent, compared to September 2017.

Corporate Income Tax: Corporate Income Tax collections for September totaled almost $208.6 million, for an increase of $9 million, or 4.5 percent, compared to last year when net Corporate Tax revenues totaled nearly $199.6 million.

The following notable components within Corporate Income Tax make up the net increase:

Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled $164.8 million, for an increase of $6.9 million, or 4.4 percent, compared to September 2017.

Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month increased by $0.5 million, or 1.8 percent, compared to September 2017. Title Ad Valorem Tax (TAVT) collections decreased by $2.8 million, or -3.4 percent, compared to last year.

 

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