Income Tax Filing and Payment Deadline is July 15, 2020
Due to COVID-19, DOR automatically extended income tax filing and payment deadlines. Remember to file and pay by Wednesday July 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.