Department of Revenue Automatically Extending 2019 Filing Deadline
The Georgia Department of Revenue is automatically extending the 2019 income tax filing and payment deadline to July 15, 2020. Vehicle registrations that expire between March 16, 2020 and May 14, 2020 are being extended through May 15, 2020.
March Net Tax Revenues Up 7 percent
The State of Georgia’s net tax collections for March totaled nearly $1.67 billion for an increase of $109 million, or 7 percent, compared to March 2018, when net tax collections totaled almost $1.56 billion. Year-to-date, net tax collections totaled $17.04 billion for an increase of $380 million, or 2.3 percent, compared to the previous fiscal year, when net tax revenues totaled $16.66 billion through three quarters.
The changes within the following tax categories help further explain March’s overall net tax revenue increase:
Individual Income Tax: Individual Income Tax collections totaled almost $774 million, for an increase of $64.1 million, or 9 percent, compared to last year when Income Tax collections totaled $709.8 million.
The following notable components within Individual Income Tax combine for the net increase:
- Individual Income Tax refunds issued (net of voided checks) were down $51 million or -8.7 percent
- Individual Withholding payments for March fell by $45.8 million, or -4 percent, compared to last year
- Individual Non-Resident Income Tax Return payments increased $24.3 million or 43.6 percent
- All other categories, including Income Tax Assessment payments, were up a combined $34.6 million
Sales and Use Tax: Gross Sales and Use Tax collections increased by $59.3 million, or 6.7 percent, over last year’s total of $887.2 million. Net Sales and Use Tax increased by nearly $17.5 million, or 3.9 percent, over March 2018 when net sales tax totaled roughly $451 million. The adjusted Sales Tax distribution to local governments totaled $473.9 million for an increase of $48.7 million, or 11.4 percent, over last year. Lastly, Sales Tax Refunds fell by roughly $6.8 million, or -62.1 percent, compared to FY 2018.
Corporate Income Tax: Corporate Income Tax collections for March totaled nearly $109.3 million, which was an increase of $27.9 million, or 34.3 percent, over last year’s total of $81.4 million.
The following notable components within Corporate Income Tax make up the net increase:
- Corporate Income Tax refunds (net of voids) decreased slightly by -0.2 percent from last year’s total
- Corporate Income Tax Estimated payments increased by $5.5 million or 11.1 percent
- Corporate Income Tax Return payments increased by $2.2 million or 6.9 percent
- All other Corporate Tax types, including Business Occupation Tax payments, were up a combined $20.1 million
Motor Fuel Taxes: Motor Fuel Tax collections increased by $3 million, or 2.2 percent, compared to FY 2018.
Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fees declined by $1.8 million, or -4.7 percent, for the month, while Title Ad Valorem Tax (TAVT) collections increased by $1.2 million, or 1.9 percent, over last year’s total of $62.6 million.