cloudyn.png
Monday May 20th, 2019 4:44AM

Georgia tax collections up 7.1% in July

By Staff

Governor Nathan Deal today announced that Georgia’s net tax collections for July totaled nearly $1.72 billion, for an increase of $113.4 million, or 7.1 percent, compared to last year when net tax collections totaled roughly $1.61 billion. Gross tax revenue receipts for the month totaled $2.27 billion, for an increase of $112.5 million, or 5.2 percent, compared to July 2016.

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 the month totaled $861.5 million, up from nearly $780.7 million in July 2016, for an increase of roughly $80.9 million, or 10.4 percent.

The following notable components within Individual Income Tax combine for the net increase:

  • Individual Income Tax refunds issued (net of voided checks) were down $15.5 million, or -15.2 percent.
  • Individual Income Tax Withholding payments were up $64.9 million, or 7.7 percent.
  • All other Individual Tax categories, including Estimated payments, were up a combined $0.5 million.

Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month increased by $46.7 million, or 5.1 percent, compared to July 2016. Net Sales and Use Tax revenue increased by $24.7 million, or 5.1 percent, compared to last year when net sales and use totaled $484 million. The adjusted distribution of sales tax to local governments totaled $444.7 million, for an increase of $27.5 million, or 6.6 percent, compared to July 2016. Finally, sales tax refunds decreased by $5.5 million, or -58 percent, compared to last year.

Corporate Income Tax: Corporate Income Tax collections for July totaled nearly $19.4 million, for an increase of $13 million, or 205.6 percent, compared to last year when net Corporate Tax revenues totaled $6.3 million.

The following components within Corporate Income Tax make up the net increase:

  • Corporate Tax refunds issued (net of voided checks) were down $13.5 million, or -44.1 percent.
  • Corporate Tax Return payments were up $3.2 million, or 73.6 percent.
  • All other Corporate Taxes, including Estimated payments, were down a combined $3.7 million, or -11.4 percent.

Motor Fuel Taxes: Motor Fuel Tax collections for July decreased by nearly $0.1 million, or -0.1 percent, compared to last year when Motor Fuel Tax revenues totaled $146.1 million.

Motor Vehicle Tag & Title Fees: Tag and Title Fee collections for July increased by $7.4 million, or 28.4 percent, compared to July 2016. Title Ad Valorem Tax (TAVT) collections for the month totaled $81.5 million, for a decrease of $10 million, or -11 percent, compared to last year.

© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Georgia tax collections up 7.1% in July
Governor Nathan Deal today announced that Georgia’s net tax collections for July totaled nearly $1.72 billion, for an increase of $113.4 million, or 7.1 percent, compared to last year when net tax collections totaled roughly $1.61 billion.
10:14AM ( 4 minutes ago )
Gas prices rise a nickel from last week, quarter from last year
Gas prices in the state are climbing slightly, mirroring a trend across the rest of the country.
8:25AM ( 1 hour ago )
Helen holds the line on millage; White County will set its rate Aug. 14
The tentative real and personal property digest in Helen is up by more than $2.3 million for 2017 over 2016, figures published by the city show.
6:03PM ( 16 hours ago )
Business News
985 crash claims 2 lives, injures 8
​The Georgia State Patrol continues to investigate a 5-vehicle crash on Interstate 985 that killed two people and sent eight others to area hospitals Sunday afternoon
6:52AM ( 3 hours ago )
Atlanta firefighter perishes after swimming accident in Tallulah Gorge
State and local emergency personnel tried valiantly to save a man who went underwater while on an outing in Tallulah Gorge Sunday afternoon.
12:25AM ( 9 hours ago )
Jackson County to mark 50th anniversary of prosecutor's assassination
The early morning quiet on a street in Jefferson was shattered 50 years ago today when an explosion ripped through Solicitor General Floyd Hoard's car, killing him.
12:01AM ( 10 hours ago )
Local/State News
985 crash claims 2 lives, injures 8
​The Georgia State Patrol continues to investigate a 5-vehicle crash on Interstate 985 that killed two people and sent eight others to area hospitals Sunday afternoon
6:52AM ( 3 hours ago )
Atlanta firefighter perishes after swimming accident in Tallulah Gorge
State and local emergency personnel tried valiantly to save a man who went underwater while on an outing in Tallulah Gorge Sunday afternoon.
12:25AM ( 9 hours ago )
Helen holds the line on millage; White County will set its rate Aug. 14
The tentative real and personal property digest in Helen is up by more than $2.3 million for 2017 over 2016, figures published by the city show.
6:03PM ( 16 hours ago )
Quinlan Visual Arts Center hosts monthly veterans art workshops to create mosaic parklet
Through a partnership with The Home Depot, the Quinlan Visual Arts Center in Gainesville is offering free art workshop sessions every first Saturday of the month for veterans to help build a unique mosaic - and to help veterans in the process.
3:01PM ( 19 hours ago )
DNR: Personnel working to rescue possible drowning victim from bottom of Tallulah Gorge
State and local emergency personnel are assisting Habersham Emergency Medical Services with a possible drowning at Sliding Rock in the bottom of Tallulah Gorge.
1:02PM ( 21 hours ago )