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Gov. Deal: tax revenues up
Nathan-Deal
Gov. Nathan Deal announced the jump in January-to-January tax revenue last week. - photo by File photo

Gov. Nathan Deal announced Monday that Georgia’s net tax collections for August totaled roughly $1.8 billion, for an increase of $117.4 million, or 7 percent, compared to last year when net tax collections totaled nearly $1.69 billion. Year-to-date, net tax revenue collections totaled $3.58 billion, for an increase of $176.8 million, or 5.2 percent, compared to August 2017.

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

Individual Income Tax: Individual Income Tax collections for August totaled $939.4 million, for an increase of $77 million, or 8.9 percent, compared to last year when Individual Income Tax collections totaled $862.4 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 $14.7 million, or 18 percent.

Individual Withholding payments were up $78.7 million, or 8.8 percent.

All other Individual Tax categories, including Estimated Tax payments, were up a combined $13 million.

 Sales and Use Tax: Gross Sales and Use Tax collections for the month increased by nearly $76.8 million, or 8.2 percent, over last year. Net Sales and Use Tax totaled $518.2 million, for an increase of $54.3 million, or 11.7 percent, compared to August 2017. The adjusted distribution of sales tax to local governments totaled $493.8 million, for an increase of $22.1 million, or 4.7 percent, over last year. Finally, sales tax refunds increased by roughly $0.4 million, or 10.1 percent, compared to August 2017. 

Corporate Income Tax: Corporate Income Tax collections for August totaled nearly $18 million, for an increase of roughly $3.5 million, or 23.8 percent, compared to last year when net Corporate Tax revenues totaled $14.5 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 $10.5 million, or 172.5 percent.

Corporate Income Tax Return payments were up $12.1 million, or 469.8 percent. 

All other Corporate Tax categories, including Estimated Tax payments, were up a combined $1.9 million.

 Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled roughly $153.7 million, for a decrease of less than $0.2 million, or -0.1 percent, compared to August 2017. 

Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month increased by nearly $4 million, or 12.2 percent, compared to August 2017. Title Ad Valorem Tax (TAVT) collections totaled $72.5 million, for a decrease of $14.4 million, or -16.6 percent, compared to last year. 


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