Deal: April tax revenues up 2.2 percent

| May 14, 2018

From the Office of Gov. Nathan Deal:

Gov. Nathan Deal announced that Georgia’s net tax collections for April totaled $2.31 billion, for an increase of $48.7 million, or 2.2 percent, compared to last year when net tax collections totaled nearly $2.26 billion. Year-to-date, net tax collections totaled $18.97 billion, for an increase of roughly $909.3 million, or 5 percent, compared to April 2017, when net tax revenues totaled $18.06 billion.

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

Individual Income Tax: Individual Income Tax collections for April increased by $1.6 million, or 0.1 percent, compared to last year when Income Tax collections totaled almost $1.13 billion.

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

  • Individual Income Tax refunds issued (net of voided checks) were up nearly $45.5 million, or 8 percent.
  • Individual Withholding payments were up $6 million, or 0.7 percent.
  • Individual Income Tax Return payments were up $17.4 million, or 2.8 percent.
  • All other Individual Tax categories, including Estimated Return payments, were up a combined $23.7 million.

Sales and Use Tax: Gross Sales and Use Tax collections totaled roughly $1.03 billion, for an increase of $59.6 million, or 6.1 percent, over last year. Net Sales and Use Tax increased by almost $13.4 million, or 2.5 percent, over April 2017, when net sales tax totaled $530.7 million. The adjusted distribution of sales tax to local governments totaled nearly $481.5 million, for an increase of roughly $55.2 million, or 12.9 percent, over last year. Finally, sales tax refunds decreased by almost $9 million, or -70.9 percent, to a total of $3.7 million.

Corporate Income Tax: Corporate Income Tax collections for April increased by $12.3 million, or 5.4 percent, compared to last year when Corporate Tax collections totaled nearly $228.9 million.

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

  • Corporate Income Tax refunds issued (net of voided checks) were up $9.7 million, or 83.2 percent.
  • Corporate Income Tax payments were up $42.6 million, or 55.6 percent.
  • All other Corporate Tax categories, including Corporate Estimated payments, were down $20.5 million.

Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled roughly $159.1 million, for an increase of $11.6 million, or 7.9 percent, compared to April 2017.

Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month totaled $35.5 million, for an increase of $7.6 million, or 27.4 percent, over last year. Title Ad Valorem Tax (TAVT) collections decreased by $6.8 million, or -8.1 percent, compared to April 2017, when TAVT collections totaled almost $83.7 million.

 

Related Files:
LAMP to hold open house
Curt Fowler | Five Steps to Fix Toxic Culture
×

Comments are closed.