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.
December Net Tax Revenues Up 3%
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.