//GA State Revenues Up 2% In August
Regional NewsSeptember 10, 2013

GA State Revenues Up 2% In August

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budget-moneyAtlanta, GA- Gov. Nathan Deal announced today that Georgia’s net tax collections for the month of August totaled $1.35 billion for an increase of $27 million, or 2 percent, compared to August 2012. Year-to-date, net tax revenue collections totaled $2.75 billion for an increase of nearly $115.5 million or 4.4 percent, compared to the same point last year.

Individual Income Tax: Individual Income Tax collections for August totaled $699.5 million — down from $709 million in August 2012, for a decrease of $9.5 million or -1.3 percent.

Sales and Use Tax: Gross Sales Tax collections declined $37.5 million, or -4.5 percent, compared to last year*. Net Sales & Use Tax collections for August decreased nearly $39 million, or -8.7 percent — down from $446.75 million in August 2012 to a total of $408 million in FY 2014. Lastly, the adjusted Sales Tax distribution to local governments totaled $374.25 million, which was a decrease of $11.25 million compared to August 2012.

 Corporate Income Tax: Corporate Income Tax collections for August increased nearly $3.5 million, or 28.3 percent, compared to last year when Corporate Tax revenues totaled nearly $12 million in August 2012.
Motor Vehicle Tag & Title Fees: Motor Vehicle Fee collections for August totaled $87 million, which was $59 million higher than the previous year. The large year-over-year increase is the result of the new tax legislation (H.B. 266) that became effective as of March 1, 2013.
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