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Learn about State of Georgia Investor Relations, including Featured News and The Team.
The Georgia State Financing and Investment Commission (GSFIC) is responsible for the issuance of all public debt of the State, including general obligation debt and guaranteed revenue debt. GSFIC consists of the Financing and Investment Division and the Construction Division. GSFIC’s core value is dedicated to continuous quality improvement in all of its activities.
October Net Tax Revenues Up 1.8 Percent
November 09, 2020
Atlanta, GA – The State of Georgia’s net tax collections in October totaled nearly $2.02 billion, for an increase of $35.2 million, or 1.8 percent, compared to last year when net tax collections totaled $1.98 billion. Year-to-date, net tax revenue collections totaled $8.21 billion, for an increase of $400.2 million, or 5.1 percent, compared to October FY 2020.
The State of Georgia’s net tax collections for February totaled roughly $1.35 billion for an increase of $54.9 million, or 4.2 percent, compared to February 2019 when net tax collections totaled $1.30 billion. Year-to-date net tax collections totaled $15.56 billion for an increase of $187.9 million, or 1.2 percent, compared to the previous fiscal year when net tax revenues totaled $15.37 billion.
January Net Tax Revenues Up 4.5%
February 18, 2020
Atlanta, GA - The State of Georgia’s net tax collections for January totaled nearly $2.36 billion for an increase of $100.8 million, or 4.5 percent, compared to January 2019 when net tax collections totaled $2.25 billion. Year-to-date net tax collections totaled roughly $14.21 billion for an increase of $133 million, or 0.9 percent, compared to the previous fiscal year, when net tax revenues totaled $14.07 billion.
Individual Income Tax: Individual Income Tax collections increased by a total of $56 million, or 4.3 percent, compared to last year when Income Tax collections totaled $1.3 billion. Individual Income Tax refunds issued - net of voided checks - were up $18.5 million, or 34.1 percent. Individual Withholding payments for the month increased by $43.8 million, or 4.2 percent. Individual Income Tax Return payments were up $12.3 million, or 91.7 percent, over FY 2019. All other Individual Tax categories, including Estimated Tax payments, were up a combined $18.4 million.
Sales and Use Tax: Gross Sales and Use Tax collections totaled $1.24 billion, an increase of $56.5 million, or 4.8 percent, over January 2019. Net Sales and Use Tax increased by $27.7 million, or 4.6 percent, compared to last year when net sales tax totaled $599 million. The adjusted Sales Tax distribution to local governments totaled roughly $607.8 million, for an increase of $26.3 million, or 4.5 percent, over the previous year. Lastly, Sales Tax Refunds increased by nearly $2.5 million, or 43.2 percent, compared to FY 2019.
Corporate Income Tax: Corporate Income Tax collections totaled $50.1 million, which was an increase of $11 million, or 28.2 percent, over last year when Corporate Tax collections totaled approximately $39.1 million. Corporate Income Tax refunds issued - net of voids - were up $15.1 million, or 114.1 percent. Corporate Income Tax Return payments for the month increased by $23.6 million, or 174.6 percent. All other Corporate Tax types, including Corporate Estimated payments, were up a combined $2.5 million.
Motor Fuel Taxes: Motor Fuel Tax collections increased by $9.2 million, or 6.3 percent, compared to FY 2019.
Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fees increased by $6.5 million, or 19.1 percent, during the month, whereas Title Ad Valorem Tax (TAVT) collections declined by $13.4 million, or -20.1 percent, from last year’s total of $66.9 million.