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The State of Georgia’s net tax collections in November totaled $2.29 billion, for an increase of $332.7 million, or 17 percent, compared to November 2020, when net tax collections totaled $1.96 billion.  Year-to-date, net tax revenue collections totaled $11.87 billion, for an increase of nearly $1.70 billion, or 16.7 percent, over FY 2021.

The changes within the following tax categories account for November’s overall net tax revenue increase:
 
Individual Income Tax:  Individual Income Tax collections for November totaled $1.22 billion, which was an increase of $195.4 million, or 19 percent, over last year when net Individual Tax revenues totaled $1.03 billion.

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

• Individual Income Tax refunds issued (net of voided checks) increased by $14.1 million or 24.5 percent
• Individual Withholding payments increased by $173.6 million, or 17 percent, compared to last year
• Individual Income Tax Return payments were up nearly $8.9 million, or 65.3 percent, over FY 2021
• All other Individual Tax categories, including Non-Resident Return payments, were up a combined $27 million

Sales and Use Tax:  Gross Sales and Use Tax collections increased by $208.6 million, or 18.6 percent, to a total of almost $1.33 billion, up from the previous year’s total of 1.12 billion.  Net Sales and Use Tax increased by $154.5 million, or 30 percent, compared to November 2020, when net Sales Tax revenue totaled $515.8 million. The adjusted Sales Tax distribution to local governments totaled $654.2 million, which was an increase of $57.6 million, or 9.7 percent, over last year.  Lastly, Sales Tax refunds declined by $3.5 million, or -45.8 percent, from FY 2021.

Corporate Income Tax:  Net Corporate Income Tax collections decreased by $26.6 million, or -171 percent, compared to FY 2021, when net Corporate Tax revenues totaled $15.5 million in November 2020.

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

• Corporate Tax refunds issued (net of voided checks) increased by $30.2 million or 141.6 percent
• Corporate Income Tax Estimated payments were up $6.5 million, or 23 percent, over last year
• All other Corporate Tax payments, including Corporate Return payments, were down a combined $2.9 million

**Motor Fuel Taxes: ** Motor Fuel Tax collections for November increased by $13.4 million, or 8.4 percent, from last year’s monthly total of $160.1 million.   

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections for the month fell by $1.5 million, or -5.5 percent, compared to November 2020 when Motor Vehicle fees totaled $27.5 million.  Title ad Valorem Tax (TAVT) collections increased by nearly $3.3 million, or 5.7 percent, compared to last year’s total of $57.5 million.

The State of Georgia’s net tax collections in October approached $2.48 billion, for an increase of $460.7 million, or 22.9 percent, compared to October 2020, when net tax collections totaled roughly $2.02 billion.  Year-to-date, net tax revenue collections totaled nearly $9.58 billion, for an increase of $1.36 billion, or 16.6 percent, over FY 2021.

The changes within the following tax categories account for October’s overall net tax revenue increase:
 
Individual Income Tax:  Individual Income Tax collections for October totaled almost $1.32 billion, for an increase of $279.8 million, or 26.9 percent, compared to FY 2021 when net Individual Tax revenues totaled $1.04 billion.

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

• Individual Income Tax refunds issued (net of voided checks) increased by $27.5 million or 16.9 percent
• Individual Withholding payments increased by $114.6 million, or 11.8 percent, compared to FY 2021
• Individual Income Tax Return payments were up $168.3 million, or 106.1 percent, from last year
• All other Individual Tax categories, including Non-Resident Tax payments, were up a combined $24.4 million

Sales and Use Tax:  Gross Sales and Use Tax collections increased by $184.6 million, or 16.4 percent, from last year’s total of $1.12 billion.  Net Sales and Use Tax increased by $80 million, or 13.9 percent, compared to FY 2021, when net Sales Tax revenue totaled $574.9 million.  The adjusted Sales Tax distribution to local governments totaled $642.4 million, for an increase of $108.9 million, or 20.4 percent, over the previous year.  Lastly, Sales Tax refunds fell by $4.3 million, or -29.7 percent, compared to October 2020.

Corporate Income Tax:  Net Corporate Income Tax collections increased by $42.6 million, or 81.2 percent, compared to the previous fiscal year, when net Corporate Tax revenues totaled roughly $52.5 million for the month.

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

• Corporate Tax refunds issued (net of voids) increased by $3.8 million, or 9 percent, from last year
• Corporate Income Tax Estimated payments were up $8.9 million, or 19.1 percent, over FY 2021
• Corporate Income Tax Return payments increased by $36.7 million, or 155.7 percent, over last year
• All other Corporate Tax payments, including Corporate Net Worth, were up a combined of $0.8 million

Motor Fuel Taxes:  Motor Fuel Tax collections during the month increased by nearly $13.8 million, or 9 percent, up from a total of $153.5 million in FY 2021.   

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections increased by $1 million, or 3 percent, compared to October 2020 when Motor Vehicle fees totaled $34.2 million, while Title ad Valorem Tax (TAVT) collections increased by $7.3 million, or 12.3 percent, compared to last year’s total of $59.2 million.

Gov. Brian Kemp announced today that Georgia’s September net tax collections totaled nearly $2.82 billion, for an increase of $655 million, or 30.3 percent, compared to last year when net tax collections totaled $2.16 billion. Year-to-date and through the end of one quarter, net tax revenue collections totaled $7.10 billion, for an increase of $903.7 million, or 14.6 percent, compared to FY 2021.

The changes within the following tax categories account for September’s overall net tax revenue increase:
 
Individual Income Tax:  Individual Income Tax collections for September totaled $1.42 billion, for an increase of $165.9 million, or 13.2 percent, compared to FY 2021 when net Individual Tax revenues approached $1.26 billion.

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

• Individual Income Tax refunds issued (net of voided checks) fell by $15 million, or -17 percent, from last year
• Individual Withholding payments increased by $59.4 million, or 5.8 percent, compared to September 2020
• Individual Income Tax Return payments increased by $30.2 million, or 88.1 percent, from last year
• Individual Income Tax Estimated payments were up $40.6 million, or 21.4 percent, over FY 2021
• All other Individual Tax categories, including Non-Resident Return payments, were up a combined $20.7 million

Sales and Use Tax:  Gross Sales and Use Tax collections totaled nearly $1.3 billion in September, for an increase of $198.5 million, or 18.1 percent, over last year. Net Sales and Use Tax increased by $334.6 million, or 104.8 percent, compared to FY 2021, when net Sales Tax revenue totaled just $319.2 million.  FY 2021 net Sales Tax collections were lower due to a one-time audit adjustment to re-state previously incorrect Sales Tax allocations for returns captured during an extensive audit review period completed last fall.  

Conversely, the monthly Sales Tax distribution to local governments was higher due to the DOR audit, with a total of $768.3 million in FY 2021, resulting in a favorable year-over-year decrease of $129.8 million, or -16.9 percent, in the current year (FY 2022) comparison to September 2020.  Lastly, Sales Tax refunds decreased by $6.4 million, or -62.9 percent, compared to September FY 2021.

Corporate Income Tax:  Net Corporate Income Tax collections increased by $133.5 million, or 50.4 percent, over last year when net Corporate Tax revenues totaled $264.9 million in September.

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

• Corporate Tax refunds issued (net of voided checks) were up $12.2 million, or 95.3 percent, over last year
• Corporate Income Tax Estimated payments were up $130 million, or 54.6 percent, over FY 2021
• Corporate Income Tax Return payments increased by $12.8 million, or 54.2 percent, from last year
• All other Corporate Tax payments, including S-Corp payments, combined for an increase of $2.9 million

Motor Fuel Taxes:  Motor Fuel Tax collections for the month increased by $14.5 million, or 9.1 percent, up from a total of $159.8 million in September FY 2021.   

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections increased by $0.6 million, or 1.9 percent, compared to September 2020 when Motor Vehicle fees totaled $30.3 million, while Title ad Valorem Tax (TAVT) collections were up $9.6 million, or 16.5 percent, compared to last year’s total of $58.1 million.