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State of Georgia Investor Relations

Issuer Type: State/Province

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On behalf of the Georgia State Financing and Investment Commission, I would like to welcome you to our State’s new investor relations website. We appreciate your interest and investment in bonds issued by the State, as it allows us to make critical investments in public infrastructure throughout our state. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of our State. Please do not hesitate to contact our office with suggestions for how we can be doing better. Thanks again for your interest in our bond program.

Diana Pope, Director, Financing & Investment

News & Highlights

January 13, 2020

News
December 2019 Revenues

December Net Tax Revenues Up 3%

January 13, 2020

The State of Georgia’s December net tax collections totaled nearly $2.23 billion, for an increase of $65.8 million, or 3 percent, compared to the previous fiscal year, when net tax collections totaled roughly $2.16 billion.  Year-to-date, net tax collections totaled $11.85 billion, for an increase of roughly $32.3 million, or 0.3 percent, compared to FY 2019 when net tax revenues totaled almost $11.82 billion.

The changes within the following tax categories help further explain December’s overall net tax revenue increase:
 
Individual Income Tax:  Individual Income Tax collections totaled nearly $1.16 billion, for an increase of $14.4 million, or 1.3 percent, compared to December 2018 when Income Tax collections totaled $1.14 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 $41.4 million or 167.4 percent
  • Individual Withholding payments for December were up $36.7 million, or 3.4 percent, over last year
  • Individual Income Tax Estimated payments for the month were up $4.6 million or 11 percent
  • All other Individual Tax categories, including Non-Resident Return payments, were up a combined $14.5 million

Sales and Use Tax:  Gross Sales and Use Tax collections increased by $15.4 million, or 1.5 percent, up from a total of $1.04 billion in FY 2019.  Net Sales and Use Tax increased by approximately $0.2 million compared to last year when net sales tax totaled $526.1 million.  The adjusted Sales Tax distribution to local governments totaled $524.1 million, for an increase of $21.2 million, or 4.2 percent, while Sales Tax Refunds fell by roughly $6 million, or -53.3 percent, from a total of $11.2 million in FY 2019.

Corporate Income Tax:  Corporate Income Tax collections increased by nearly $66.5 million, or 36.9 percent, compared to FY 2019 when Corporate Tax collections totaled approximately $180 million for December.

The following notable components within Corporate Income Tax make up the net increase:
Corporate Income Tax refunds issued (net of voids) were up $16.9 million or 142.1 percent

  • Corporate Estimated Tax payments for the month increased by $67.9 million or 43.7 percent
  • Corporate Income Tax Return payments were up $16.1 million, or 67.7 percent, over last year
  • All other Corporate Tax categories, including Corporate S-Corp payments, were down a combined $0.6 million  

Motor Fuel Taxes:  Motor Fuel Tax collections increased by nearly $0.7 million, or 0.5 percent, compared to FY 2019.

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fees decreased by $0.5 million, or -2 percent, compared to last year, while Title Ad Valorem Tax (TAVT) collections declined by almost $19 million, or -28.5 percent.

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December 6, 2019

News
November 2019 Revenues

Kemp: November Net Tax Revenues Down 1.2%

December 06, 2019

The State of Georgia’s net tax collections in November totaled almost $1.81 billion, for a decrease of $22.4 million, or -1.2 percent, compared to FY 2019 when net tax collections totaled $1.83 billion.  Year-to-date, net tax revenue collections totaled $9.62 billion, for a decrease of roughly $33.6 million, or -0.3 percent, compared to FY 2019.

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 declined by $31.3 million, or -3.4 percent, down from last year when net Individual Tax revenues totaled just over $932 million.

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

  • Individual Income Tax refunds issued (net of voided checks) decreased by $8.9 million or -14.2 percent
  • Individual Withholding payments declined by $53.1 million, or -5.6 percent, compared to last year
  • Individual Income Tax Non-Resident Return payments were up $8.3 million or 157.1 percent
  • All other Individual Tax categories, including Estimated Tax payments, were up a combined $4.6 million
     

Sales and Use Tax:  Gross Sales and Use Tax collections increased by $45.2 million, or 4.5 percent, from last year’s total of 1.01 billion.  Net Sales and Use Tax increased by $33.6 million, or 6.9 percent, compared to FY 2019, when net Sales Tax revenue totaled $488.7 million.  The adjusted Sales Tax distribution to local governments totaled approximately $531 million, for an increase of $9.3 million, or 1.8 percent, over the previous year.  Lastly, Sales Tax refunds increased by $2.3 million, or 165.1 percent, compared to November 2018.

Corporate Income Tax:  Net Corporate Income Tax collections decreased by $23.1 million, or -85.1 percent, compared to FY 2019 when net Corporate Tax revenues totaled nearly $27.2 million in November.

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

  • Corporate Tax refunds issued (net of voided checks) increased by $19.7 million or 175.9 percent
  • Corporate Income Tax Return payments were down $6.6 million, or -112.8 percent, from last year
  • All other Corporate Tax payments, including Estimated Tax payments, increased by $3.2 million

Motor Fuel Taxes:  Motor Fuel Tax collections for the month fell by roughly **$**0.8 million, or -0.5 percent, from last year’s November total of $158.4 million.   

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections for November were down $4.7 million, or -15.1 percent, compared to FY 2019 when Motor Vehicle fees totaled roughly $30.9 million.  Title ad Valorem Tax (TAVT) collections also declined by $14.8 million, or -20.6 percent, compared to last year’s total of $71.7 million.

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November 8, 2019

News
October 2019 Revenues

Kemp: October Net Tax Revenues Down 1.6%

November 08, 2019

The State of Georgia’s net tax collections in October totaled $1.98 billion, for a decrease of $32.3 million, or -1.6 percent, compared to last year when net tax collections totaled roughly $2.01 billion.  Year-to-date, net tax revenue collections totaled $7.81 billion, for a decrease of $11.2 million, or -0.1 percent, compared to October FY 2019.

The changes within the following tax categories account for October’s overall net tax revenue decrease:
 
Individual Income Tax:  Individual Income Tax collections for October increased by $1.2 million, or 0.1 percent, up from last year when net Individual Tax revenues totaled just over $1.05 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 $17 million or 11.1 percent
  • Individual Withholding payments declined by $52.6 million, or -5.1 percent, compared to last year
  • Individual Income Tax Return payments were up $51.7 million, or 43.7 percent, over last year
  • All other Individual Tax categories, including Non-Resident Tax payments, were up a combined $19.1 million

Sales and Use Tax:  Gross Sales and Use Tax collections increased by nearly $62.2 million, or 6.3 percent, from last year’s total of $994.3 million.  Net Sales and Use Tax decreased by $2.2 million, or -0.4 percent, compared to FY 2019, when net Sales Tax revenue totaled $525.1 million.  The adjusted Sales Tax distribution to local governments totaled $528.1 million, for an increase of roughly $64.8 million, or 14 percent, over the previous fiscal year.  Lastly, Sales Tax refunds fell by roughly $0.4 million, or -7.6 percent, compared to October 2018.

Corporate Income Tax:  Net Corporate Income Tax collections increased by $11.3 million, or 18 percent, compared to October 2018, when net Corporate Tax revenues totaled roughly $62.4 million for the month.

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

  • Corporate Tax refunds issued (net of voided checks) increased by $13.8 million or 121.6 percent
  • Corporate Income Tax Estimated payments were up $15.7 million, or 68.7 percent, over FY 2019
  • Corporate Income Tax Return payments increased by $7.8 million, or 20.8 percent, over last year
  • All other Corporate Tax payments, including S-Corp payments, combined for an increase of $1.6 million

Motor Fuel Taxes:  Motor Fuel Tax collections during the month increased by nearly $0.7 million, or 0.5 percent, up from a total of $150.2 million in FY 2019.   

Motor Vehicle - Tag & Title Fees:  Motor Vehicle Tag & Title Fee collections increased by $2.3 million, or 7.2 percent, compared to October 2018 when Motor Vehicle fees totaled nearly $32.7 million.  Title ad Valorem Tax (TAVT) collections, however

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