Deal: August tax revenues down -0.2 percent

September 8, 2017

Gov. Nathan Deal today announced that Georgia’s net tax collections for August totaled nearly $1.69 billion, for a decrease of $4 million, or -0.2 percent, compared to August 2016. Year-to-date, net tax revenue collections totaled almost $3.41 billion, for an overall increase of $109.5 million, or 3.3 percent, over last year when net tax revenues totaled $1.69 billion.

The changes within the following tax categories contributed to the overall net tax revenue decrease in August:

Individual Income Tax: Individual Income Tax collections for the month totaled $862.4 million, down from $870.2 million in August 2016, for a decrease of $7.8 million, or -0.9 percent.

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

  • Individual Income Tax Withholding payments were down $29.4 million, or -3.2 percent.
  • Individual Income Tax refunds issued (net of voided checks) were down $23 million, or -22 percent.
  • All other Individual Tax categories, including Estimated Tax payments, were down a combined $1.4 million.

Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month increased by $51.5 million, or 5.8 percent, compared to August 2016. Net Sales and Use Tax revenue totaled $463.9 million, for a decrease of $11.3 million, or -2.4 percent, compared to last year when net sales and use totaled $475.2 million. The adjusted distribution of sales tax to local governments totaled $471.7 million, for an increase of $62.4 million, or 15.3 percent, compared to August 2016. Finally, sales tax refunds increased by $0.4 million, or 10.5 percent, compared to last year.

Corporate Income Tax: Corporate Income Tax collections for August totaled $14.5 million, for a decrease of $5.9 million, or -28.9 percent, compared to last year when net Corporate Tax revenues totaled $20.4 million.

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

  • Corporate Income Tax Estimated Return payments were down $1 million, or -6.2 percent.
  • Corporate Income Tax refunds issued (net of voided checks) were up $2.7 million, or 80.9 percent.
  • All other Corporate Tax categories, including Return payments, were down a combined $2.2 million, or -27.5 percent.

Motor Fuel Taxes: Motor Fuel Tax collections for August increased by nearly $6.7 million, or 4.5 percent, compared to last year when Motor Fuel Tax revenues totaled roughly $147.2 million.

Motor Vehicle Tag & Title Fees: Tag and Title Fee collections for August increased by $1.1 million, or 3.5 percent, compared to August 2016. Title Ad Valorem Tax (TAVT) collections for the month totaled $86.9 million, for an increase of nearly $4 million, or 4.9  percent, compared to last year.

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