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The State of Georgia’s net tax collections in December totaled nearly $3.21 billion, for an increase of $224.9 million, or 7.5 percent, compared to December 2021 when net tax collections totaled $2.98 billion. Year-to-date, net tax collections totaled $15.82 billion, for an increase of $966.6 million, or 6.5 percent, over FY 2022 through six months.

The changes within the following tax categories account for December’s overall net tax revenue increase:

Individual Income Tax: Net Individual Income Tax collections totaled roughly $1.44 billion, for a decrease of $100.1 million, or -6.5 percent, compared to FY 2022 when net Individual Tax revenues totaled $1.54 billion.

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

• Individual Income Tax refunds issued (net of voided checks) increased by $17.1 million or 41.4 percent
• Individual Withholding payments decreased by $55.1 million, or -4 percent, compared to last year
• Individual Income Tax Return payments increased $15.7 million, or 114.9 percent, over last year
• All other Individual Tax categories, including Estimated Return payments, were down a combined $43.6 million

Sales and Use Tax: Gross Sales and Use Tax collections totaled $1.48 billion, for an increase of $108.3 million, or 7.9 percent, over last year’s total of $1.37 billion. Net Sales and Use Tax for the month increased by $52.2 million, or 7.5 percent, compared to December 2021, when net Sales Tax revenue totaled $694.8 million. The adjusted Sales Tax distribution to local governments totaled $729.6 million, for an increase of $59.1 million, or 8.8 percent, over FY 2022. Lastly, Sales Tax refunds decreased by $3.1 million, or 44.4 percent compared to the previous year.

Corporate Income Tax: Net Corporate Income Tax collections totaled $848.8 million, for an increase of $442.4 million, or 108.9 percent, over last year when net Corporate Tax revenues totaled $406.4 million in December.

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

• Corporate Tax refunds issued (net of voided checks) increased by $2.5 million, or 13.6 percent, over FY ‘22
• Corporate Income Tax Estimated Return payments were up $236.8 million, or 72.4 percent, over last year
• All other Corporate Tax payments, including Corporate Return payments, were up a combined $208.1 million

Motor Fuel Taxes: Motor Fuel Tax collections for December decreased by $173.1 million, or -104.2 percent, compared to last year’s total of $166.1 million, as a result of Governor Kemp’s Executive Orders to extend the temporary suspension of the Motor Fuel Excise Tax until January 10th of 2023.

Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for December fell by $2.7 million, or -7.8 percent, compared to FY 2022 when Motor Vehicle fees totaled $34.4 million, while Title ad Valorem Tax (TAVT) collections increased by $5.7 million, or 9.9 percent, compared to last year’s total of $58.3 million.

Atlanta, GA – The State of Georgia’s net tax collections in November totaled almost $2.29 billion for a decrease of $2.4 million, or -0.1 percent, compared to November 2021 when net tax collections totaled just over $2.29 billion. Year-to-date, net tax revenue collections totaled $12.61 billion for an increase of $741.7 million, or 6.2 percent, over FY 2022.

The changes within the following tax categories account for November’s overall net tax revenue decrease:

Individual Income Tax: Individual Income Tax collections for November totaled $1.28 billion, an increase of $55.8 million - or 4.6 percent - over FY 2022 when net Individual Tax revenues totaled roughly $1.22 billion.

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

▪ Individual Income Tax refunds issued (net of voided checks) decreased by $16.5 million or -23.2 percent
▪ Individual Withholding payments increased by $33.5 million, or 2.8 percent, compared to FY 2022
▪ Individual Income Tax Return payments were up $17.7 million, or 78.9 percent, over last year
▪ All other Individual Tax categories, including Estimated Tax payments, were down a combined $11.9 million

Sales and Use Tax: Gross Sales and Use Tax collections for the month increased by $153.1 million, or 11.5 percent, to a total of $1.48 billion compared to a total of nearly $1.33 billion in FY 2022. Net Sales and Use Tax increased by $65.6 million, or 9.8 percent, compared to November 2021 when net Sales Tax revenue totaled $670.3 million. Lastly, the adjusted Sales Tax distribution to local governments totaled $739.6 million for an increase of $85.4 million, or 13.1 percent, compared to last year.

Corporate Income Tax: Net Corporate Income Tax collections increased by $39.5 million, or 358.1 percent, from last year when Corporate Tax revenues and refunds combined for a net total of -$11 million.

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

▪ Corporate Tax refunds issued (net of voided checks) decreased by $34.6 million or -67.3 percent
▪ Corporate Income Tax Estimated payments were down $2.3 million, or -6.6 percent, from last year
▪ All other Corporate Tax payments, including Corporate Return payments, were up a combined $7.2 million

Motor Fuel Taxes: Motor Fuel Tax collections for November decreased by $172.5 million, or -99.4 percent, compared to last year’s total of $173.5 million, as a result of Governor Kemp’s Executive Orders to extend the suspension of the Motor Fuel Excise Tax.

Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for the month increased by $1.7 million, or 6.7 percent, compared to November 2021 when Motor Vehicle fees totaled $26 million, while Title ad Valorem Tax (TAVT) collections increased by roughly $5.2 million, or 8.5 percent, compared to a total of $60.8 million last year.

The State of Georgia’s net tax collections in October approached $2.71 billion for an increase of $230.2 million, or 9.3 percent, compared to October of FY 2022 when net tax collections totaled nearly $2.48 billion.  Year-to-date, net tax revenue collections totaled $10.32 billion for an increase of $744 million, or 7.8 percent, over FY 2022.

The changes within the following tax categories account for October’s overall net tax revenue increase:
 
Individual Income Tax:  Individual Income Tax collections in October totaled $1.56 billion for an increase of $243.3 million, or 18.4 percent, compared to FY 2022 when net Individual Tax revenues totaled nearly $1.32 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 $18.4 million or 9.7 percent
• Individual Withholding payments increased by $152 million, or 14 percent, compared to FY 2022
• Individual Income Tax Return payments were up $96.2 million, or 29.4 percent, over last year
• All other Individual Tax categories, including Non-Resident Tax payments, were up a combined $13.5 million

Sales and Use Tax:  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.  Net Sales and Use Tax increased by $108.7 million, or 16.6 percent, compared to October 2021 when net Sales Tax revenue totaled $654.9 million.  The adjusted Sales Tax distribution to local governments totaled $722.4 million for an increase of $80 million, or 12.5 percent, over the previous fiscal year.  

Corporate Income Tax:  Net Corporate Income Tax collections increased by $11.4 million, or 12 percent, compared to October 2021 when net Corporate Tax revenues totaled $95.1 million for the month.

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

• Corporate Tax refunds issued (net of voids) decreased by $27.1 million, or -59.3 percent, from last year
• Corporate Income Tax Estimated payments were up $1.4 million, or 2.5 percent, over the previous year
• Corporate Income Tax Return payments declined by $11.8 million, or -19.6 percent, compared to FY 2022
• All other Corporate Tax categories, including Corporate Net Worth, were down a combined $5.3 million

Motor Fuel Taxes:  Motor Fuel Tax collections in October decreased by $165.6 million, or -99 percent, compared to FY 2022, as a result of Governor Kemp’s Executive Orders to extend the suspension of the Motor Fuel Excise Tax into mid-November.   

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections declined by $2.3 million, or -6.7 percent, compared to last year when Motor Vehicle fees totaled $35.3 million, while Title ad Valorem Tax (TAVT) collections increased by $3.1 million, or 4.6 percent, over last year’s total of $66.4 million.