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Deal: July tax revenues up
Nathan-Deal
Nathan Deal is Georgia's governor. - photo by File photo

Gov. Nathan Deal announced Monday that Georgia’s net tax collections for July, the first month of FY 2019, totaled nearly $1.78 billion, for an increase of $59.4 million, or 3.5 percent, compared to last year when net tax collections totaled almost $1.72 billion. July’s gross tax revenue receipts totaled $2.41 billion, for an increase of $136 million, or 6 percent, over July 2017.

The changes within the following tax categories contributed to the overall net tax revenue increase in July:

Individual income tax: individual income tax collections for July totaled $897.1 million, for an increase of $35.6 million, or 4.1 percent, compared to last year when individual income tax collections totaled $861.5 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 $29.6 million, or 34.4 percent.

Individual withholding payments were up $53.7 million, or 6 percent.

All other individual tax categories, including estimated tax payments, were up a combined $11.5 million.

 Sales and use tax: gross sales and use tax collections increased by $66.2 million, or 6.9 percent, over last year. Net sales and use tax increased by nearly $15.1 million, or 3 percent, compared to July 2017, when net sales tax totaled almost $508.8 million. The adjusted distribution of sales tax to local governments totaled $493.6 million, for an increase of $48.9 million, or 11 percent, over last year. Finally, sales tax refunds increased by roughly $2.2 million, or 56.2 percent, compared to July 2017.

Corporate income tax: corporate income tax collections for July totaled roughly $31.9 million, for an increase of $12.5 million, or 64.7 percent, compared to last year when net corporate tax revenues totaled nearly $19.4 million.

The following notable components within corporate income tax make up the net increase: corporate income tax refunds issued (net of voided checks) were up $1.6 million, or 9.4 percent. Corporate income tax estimated return payments were up $12.6 million, or 48.5 percent.  All other corporate tax payments were up roughly $1.5 million, or 14.7 percent.

Motor fuel taxes: motor fuel tax collections during the month increased by $7.7 million, or 5.3 percent, compared to last year when motor fuel tax collections totaled nearly $146 million.

Motor vehicle tag and title fees: motor vehicle tag and title fees for the month decreased by $5.1 million, or -15.2 percent, compared to last year when motor vehicle tag and title fees totaled $33.6 million. Title ad valorem tax (TAVT) collections totaled almost $72.6 million, for a decrease of $8.9 million, or -10.9 percent, over last year.
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