Gov. Nathan Deal today announced that Georgia’s net tax collections for June totaled $1.98 billion, an increase of $20.5 million, or 1 percent, compared to last year when net tax collections totaled nearly $1.96 billion.
Year-to-date, net tax collections totaled roughly $22.71 billion, an increase of $961.3 million, or 4.4 percent, compared to June 2017, when net tax revenues totaled almost $21.75 billion.
The changes within the following categories contributed to the overall net tax revenue increase in June:
Individual income tax: Collections for June decreased by $10.4 million, or 1.1 percent, compared to last year when income tax collections totaled $958.2 million.
The following notable components within individual income tax combine for the net decrease:
• Individual income tax refunds issued (net of voided checks) were up $41 million, or 29.4 percent.
• Individual withholding payments were up $24.6 million, or 2.9 percent.
• Individual income tax estimated payments were up $11 million, or 6.9 percent.
• All other individual tax categories, including non-resident return payments, were down a combined $5 million.
Sales and use tax: Gross collections totaled $992.5 million, for an increase of $61.3 million, or 6.6 percent, over last year. Net SUT increased by nearly $24.3 million, or 5 percent, compared to June 2017, when net sales tax totaled $483 million. The adjusted distribution of sales tax to local governments totaled $483.4 million, for an increase of $40.8 million, or 9.2 percent, over last year. Finally, sales tax refunds decreased by roughly $3.7 million, or 66.8 percent.
Corporate income tax: Collections for June decreased by $10.6 million, or 5.5 percent, compared to last year when corporate tax collections totaled $193.3 million.
The following notable components within corporate income tax make up the net decrease:
• Refunds issued (net of voided checks) were up $23.2 million, or 266.7 percent.
• Payments were up $7.8 million, or 62.1 percent.
• All other corporate tax categories, including estimated payments, were up roughly $4.8 million.
Motor fuel taxes: Collections during the month totaled nearly $160.8 million, for an increase of $11.9 million, or 8 percent, compared to June 2017.
Motor vehicle tag and title fees: Fees for the month totaled $32.2 million, an increase of almost $1.8 million, or 5.8 percent, over last year. Title ad valorem tax collections increased by roughly $2.9 million, or 4 percent, compared to June 2017, when TAVT collections totaled $71.6 million.