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The State of Georgia’s net tax collections for August totaled nearly $2.31 billion for an increase of $180.4 million, or 8.5 percent, over August 2021 (FY 2022), when net tax collections approached $2.13 billion_._ Year-to-date, net tax revenue collections totaled roughly $4.52 billion after two months, for an increase of $234.6 million, or 5.5 percent, compared to FY 2022 as of the end of August.

The changes within the following tax categories account for August’s overall net tax revenue increase:
 
Individual Income Tax:  Individual Income Tax collections for August totaled $1.32 billion, which was an increase of $215.6 million, or 19.5 percent, over last year’s Individual Tax revenues.

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

• Individual Income Tax refunds issued (net of voided checks) decreased by $8.7 million or -9.9 percent
• Income Tax Withholding payments for August increased by $164.1 million, or 15 percent, from FY 2022
• Individual Income Tax Return payments increased by $20.8 million, or 87.9 percent, over August 2021
• All other Individual Tax categories combined, including Estimated Tax payments, were up nearly $22 million

Sales and Use Tax:  Gross Sales and Use Tax collections approached $1.48 billion for the month, which was an increase of $156.4 million, or 11.9 percent, over FY 2022.  Net Sales and Use Tax increased $73.3 million, or 11.1 percent, compared to August 2021, when net Sales Tax revenue totaled $663.1 million.  The adjusted Sales Tax distribution to local governments totaled $736.1 million, for an increase of $88.1 million, or 13.6 percent, over the previous fiscal year.  Lastly, Sales Tax refunds decreased by $5.1 million, or -63.9 percent, compared to FY 2022.

Corporate Income Tax:  Corporate Income Tax collections increased by $60.2 million, to a total of 62.3 million compared to August 2021, when net Corporate Tax revenues totaled $2.1 million.

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

• Corporate Income Tax refunds issued (net of voids) were down $29.1 million, or -87.4 percent, from FY ‘22
• Corporate Income Tax Estimated payments increased by $16.2 million or 68.8 percent, over last year
• All other Corporate Tax payments, including Return payments, were up a combined $14.9 million over FY ‘22

Motor Fuel Taxes:  Motor Fuel Tax collections for August decreased by $170.7 million, or -99.6 percent, compared to FY 2022, as a result of Governor Kemp’s Executive Order, initiated on March 9th, to extend the suspension of the Motor Fuel Excise Tax into mid-October.

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections increased by nearly $2 million, or 5.7 percent, from a total of $34.2 million in August 2021, while Title ad Valorem Tax (TAVT) collections decreased by $2.3 million, or -3.4 percent, compared to the previous year.

The State of Georgia’s net tax collections during the first month of FY 2023 totaled nearly $2.21 billion for an increase of $54.2 million, or 2.5 percent, over July 2021 (FY ‘22), when net tax collections approached $2.16 billion_. _The changes within the following tax categories account for July’s overall net tax revenue increase:

Individual Income Tax:  Individual Income Tax collections during the month totaled $1.17 billion, up from almost $1.06 billion in July 2021, for an increase of $113.3 million or 10.7 percent.

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

• Individual Income Tax refunds issued (net of voided checks) decreased by $5.6 million or -6.5 percent
• Income Tax Withholding payments for July increased by $103.1 million, or 9.9 percent, from FY 2022
• Individual Income Tax Return payments increased by $20.3 million, or 90.5 percent, over July 2021
• All other Individual Tax categories, including Estimated Tax payments, were down a combined $15.7 million

Sales and Use Tax:  Gross Sales and Use Tax collections approached $1.51 billion in July, for an increase of $157.9 million, or 11.7 percent, over FY 2022.  Net Sales and Use Tax increased nearly $69.2 million, or 10.1 percent, compared to July 2021, when net Sales Tax revenue totaled $687 million.  The adjusted Sales Tax distribution to local governments totaled $748.4 million, for an increase of $87.4 million, or 13.2 percent, over last year.  Lastly, Sales Tax refunds increased by $1.3 million, or 55.7 percent, compared to FY 2022.

Corporate Income Tax:  Corporate Income Tax collections for July totaled $95 million, which was an increase of $36.5 million, or 62.3 percent, from FY 2022 when net Corporate Tax revenues totaled $58.5 million for July.

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

• Corporate Income Tax refunds issued (net of voids) were down $14.1 million, or -71.3 percent, from FY ‘22
• Corporate Income Tax Return payments increased by $17.5 million, or 131.9 percent, from last year
• All other Corporate payments, including Estimated payments, were up a combined $4.9 million over last year

**Motor Fuel Taxes: **Motor Fuel Tax collections for the month of July decreased by $157.2 million, or -97.8 percent, compared to FY 2022, as a result of Governor Kemp’s Executive Order to extend the suspension of the Motor Fuel Excise Tax through mid-August.

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections decreased by $4.6 million, or -13.9 percent, from a total of $33.2 million in July 2021, while Title ad Valorem Tax (TAVT) collections fell by $3.9 million, or -5.3 percent, compared to the previous fiscal year.

The State of Georgia’s June net tax collections totaled $2.85 billion for an increase of $354.2 million, or 14.2 percent, compared to June 2021 period, when net tax collections totaled $2.50 billion as of June 30, 2021.  For the year-ended June 30, 2022, net tax collections totaled $33.09 billion for an overall increase of $6.19 billion, or 23 percent, compared to Fiscal Year 2021, during which final net tax revenues approached $26.90 billion.

Individual Income Tax:  Net Individual Income Tax collections in June totaled almost $1.48 billion, for an increase of $181.1 million, or 14 percent, compared to FY 2021 when net Individual Tax revenues approached $1.30 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 nearly $50 million, or -32 percent
• Individual Withholding payments increased by $66.4 million, or 6 percent, compared to FY 2021
• Individual Income Tax Estimated payments were up $53.3 million, or 29.7 percent, over last year
• All other categories, including Income Tax Return payments, were up a combined $11.4 million

Sales and Use Tax:  Gross Sales and Use Tax collections totaled $1.46 billion, for an increase of $171 million, or 13.3 percent, over FY 2021, when gross sales tax totaled roughly $1.29 billion.  Net Sales and Use Tax increased by **$77.6 million, **or 12 percent, up from last year’s total of $644.9 million.  The Sales Tax distribution to local governments totaled $729.5 million, which was an increase of roughly $100 million, or 15.9 percent, while Sales Tax Refunds fell by a total of $6.6 million, or -46.7 percent, compared to June 2021.

Corporate Income Tax:  Net Corporate Income Tax collections for the month totaled $479.4 million, which was an increase of $153.7 million, or 47.2 percent, over FY 2021 when net Corporate Tax revenues totaled $325.8 million.

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

• Corporate Income Tax refunds (net of voids) increased by $20.3 million, or 180 percent, over FY 2021
• Corporate Income Tax Estimated payments increased by $124.8 million, or 42.4 percent, over last year
• Corporate Income Tax Return payments were up $15.6 million, or 47.6 percent, compared to FY 2021  
• All other Corporate Tax categories, including S-Corp tax payments, were up a combined $33.6 million

Motor Fuel Taxes: Motor Fuel Tax collections for June decreased by roughly $56.8 million, or -99.5 percent, from a total of $57.1 million last year, when motor fuel tax collections were impacted by a supply shortage caused by the May 7, 2021 cyber-attack on critical fuel line infrastructure across the southeast.  The current year decrease is the result of the Executive Order issued by Governor Kemp to suspend the Motor Fuel Excise Tax through mid-August.

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fees decreased by $2.3 million, or -7.2 percent, for the month, while Title Ad Valorem Tax (TAVT) collections increased by nearly $2.3 million, or 3.3 percent, over FY 2021.