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.
September Net Tax Revenue Up 0.7%
The State of Georgia’s net tax collections in September totaled roughly $2.25 billion, for an increase of $15.7 million, or 0.7 percent, compared to last year when net tax collections totaled $2.23 billion. Year-to-date, net tax revenue collections totaled $5.83 billion, for an increase of $21.1 million, or 0.4 percent, compared to September FY 2019.
The changes within the following tax categories account for September’s overall net tax revenue increase:
Individual Income Tax: Individual Income Tax collections during September totaled $1.13 billion, for a decrease of $27.4 million, or -2.4 percent, compared to last year when net Individual Tax revenues approached $1.16 billion.
The following notable components within Individual Income Tax combine for the net decrease:
- Individual Income Tax refunds issued (net of voided checks) increased by $36.1 million or 59.1 percent
- Individual Withholding payments increased by $1.9 million, or 0.2 percent, compared to last year
- Individual Income Tax Return payments were up $8.6 million, or 53.8 percent, over last year
- All other Individual Tax categories, including Estimated Tax payments, were down a combined $1.8 million
Sales and Use Tax: Gross Sales and Use Tax collections increased by $39.2 million, or 3.9 percent, over last year to a total of roughly $1.05 billion for the month. Net Sales and Use Tax decreased by nearly $5.3 million, or -1 percent, compared to FY 2019, when net Sales Tax revenue totaled $514.1 million. The adjusted Sales Tax distribution to local governments totaled $528.3 million, for an increase of roughly $34.2 million, or 6.9 percent, over last fiscal year. Lastly, Sales Tax refunds increased by nearly $10.4 million, or 163.8 percent, compared to September 2018.
Corporate Income Tax: Net Corporate Income Tax collections increased by $46.2 million, or 22.2 percent, compared to September 2018, when net Corporate Tax revenues totaled roughly $208.6 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) were up $6.6 million or 36.4 percent
- Corporate Income Tax Estimated payments were up $58.5 million, or 29.7 percent, for the month
- Corporate Income Tax Return payments declined by $4.8 million, or -30.8 percent, from last year
- All other Corporate Tax payments, including S-Corp payments, combined for a decrease of $0.9 million
Motor Fuel Taxes: Motor Fuel Tax collections during the month declined by $3.9 million, or -2.4 percent, down from a total of $164.8 million in FY 2019.
Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fee collections fell by $0.6 million, or -2 percent, compared to September 2018 when Motor Vehicle fees totaled $29.8 million. Title ad Valorem Tax (TAVT) collections were down by $20.3 million, or -25.3 percent, compared to last year’s total of $80.4 million.