Department of Revenue Automatically Extending 2019 Filing Deadline
The Georgia Department of Revenue is automatically extending income tax filing and payment deadlines to July 15, 2020. Vehicle registrations that expire between March 16, 2020 and June 14, 2020 are being extended through June 15, 2020.
Deal: May tax revenues up 1.8 percent
Gov. Nathan Deal today announced that Georgia’s net tax collections for May totaled almost $1.76 billion, for an increase of $31.5 million, or 1.8 percent, compared to last year when net tax collections totaled nearly $1.73 billion. Year-to-date, net tax collections totaled $20.73 billion, for an increase of $940.8 million, or 4.8 percent, compared to May 2017, when net tax revenues totaled roughly $19.79 billion.
The changes within the following tax categories contributed to the overall net tax revenue increase in May:
Individual Income Tax: Individual Income Tax collections for May increased by $12.4 million, or 1.4 percent, compared to last year when Income Tax collections totaled $871.4 million.
The following notable components within Individual Income Tax combine for the net increase:
- Individual Income Tax refunds issued (net of voided checks) were up $26 million, or 17.6 percent.
- Individual Withholding payments were up $43.3 million, or 4.7 percent.
- Individual Income Tax Return payments were down roughly $7.9 million, or -18.7 percent.
- All other Individual Tax categories, including Non-Resident Return payments, were up a combined $3 million.
Sales and Use Tax: Gross Sales and Use Tax collections totaled almost $975.8 million, for an increase of $65.5 million, or 7.2 percent, over last year. Net Sales and Use Tax increased by nearly $15.6 million, or 3.3 percent, compared to May 2017, when net sales tax totaled $479.1 million. The adjusted distribution of sales tax to local governments totaled $473.1 million, for an increase of $46.1 million, or 10.8 percent, over last year. Finally, sales tax refunds increased by roughly $3.8 million, or 90.7 percent, to a total of $8.1 million.
Corporate Income Tax: Corporate Income Tax collections for May increased by $5.3 million, or 15.8 percent, compared to last year when Corporate Tax collections totaled $33.4 million.
The following notable components within Corporate Income Tax make up the net increase:
- Corporate Income Tax refunds issued (net of voided checks) were down $10.7 million, or -43.2 percent.
- Corporate Income Tax payments were down $3.7 million, or -23.5 percent.
- All other Corporate Tax categories, including S-Corp payments, were down approximately $1.7 million.
Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled almost $151.7 million, for an increase of $4.9 million, or 3.3 percent, compared to May 2017.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month totaled $32.1 million, for an increase of $2.4 million, or 8.2 percent, over last year. Title Ad Valorem Tax (TAVT) collections decreased by nearly $1.9 million, or -2.4 percent, compared to May 2017, when TAVT collections totaled $75.9 million.