cloudy.png
Thursday October 29th, 2020 4:08PM

State tax revenues down in March according to Governor Deal

By Staff

ATLANTA - Governor Nathan Deal today announced that Georgia’s net tax collections for March totaled nearly $1.56 billion, for a decrease of $8.2 million, or -0.5 percent, compared to last year when net tax collections totaled almost $1.57 billion. Year-to-date, net tax collections totaled $16.66 billion, for an increase of $860.6 million, or 5.4 percent, compared to March 2017, when net tax revenues totaled $15.8 billion nine months into the fiscal year.

The changes within the following tax categories contributed to the overall net tax revenue decrease in March:

Individual Income Tax: Individual Income Tax collections for March totaled $709.8 million, for a decrease of $23.8 million, or -3.2 percent, compared to last year when Income Tax collections totaled almost $733.7 million.

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

  • Individual Income Tax refunds issued (net of voided checks) were down $2 million, or -0.3 percent.
  • Individual Withholding payments were down $5.5 million, or -0.5 percent.
  • Individual Income Tax Return payments were up roughly $6.2 million, or 12.5 percent.
  • All other Individual Tax categories, including Non-Resident tax payments, were down a combined $26.5 million.

Sales and Use Tax: Gross Sales and Use Tax collections totaled $887.2 million, an increase of $61.1 million, or 7.4 percent, over last year. Net Sales and Use Tax totaled almost $451 million, for an increase of $15.8 million, or 3.6 percent, over March 2017. The adjusted distribution of sales tax to local governments totaled $425.2 million, for an increase of nearly $44 million, or 11.5 percent, over last year. Finally, sales tax refunds increased by $1.3 million, or 13.5 percent, to a total of $11 million.

Corporate Income Tax: Corporate Income Tax collections for March decreased by roughly $15.5 million, or -16 percent, compared to March 2017, when Corporate Tax collections totaled $96.9 million.

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

  • Corporate Income Tax refunds issued (net of voided checks) were down $20.7 million, or -57.5 percent.
  • Corporate Income Tax payments were down approximately $14.6 million, or -31 percent.
  • All other Corporate Tax categories, including Corporate Estimated payments, were down $21.6 million.

Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled $136.5 million, for an increase of nearly $4.7 million, or 3.5 percent, compared to March 2017.

Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month totaled $37.9 million, for an increase of $6.3 million, or 20 percent, over last year. Title Ad Valorem Tax (TAVT) collections decreased by roughly $13.6 million, or -17.9 percent, compared to March 2017, when TAVT collections totaled nearly $76.3 million.

© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
State tax revenues down in March according to Governor Deal
Governor Nathan Deal today announced that Georgia’s net tax collections for March totaled nearly $1.56 billion, for a decrease of $8.2 million, or -0.5 percent, compared to last year.
11:26AM ( 8 minutes ago )
Community invited to offer input on new Hall County park
With a new park scheduled to be built in his district, Hall County District 4 Commissioner Jeff Stowe is hosting a community meeting on Monday, April 9 to get input from residents on the project.
9:58AM ( 1 hour ago )
US added modest 103K jobs in March; rate stays 4.1 pct.
US employers added 103,000 jobs in March, fewest in 6 months; jobless rate holds at 4.1 pct.
9:21AM ( 2 hours ago )
Local/State News
Opioid crisis taking a toll on Habersham County Government
Drug abuse, addiction and related problems are hitting Habersham County hard where it hurts — the wallet.
5:46PM ( 2 days ago )
Developers "no longer pursuing" Spout Springs Road apartment complex
Hall County's planning director says a large apartment development planned for the south part of the county may no longer be in the works.
12:00PM ( 2 days ago )
Perry named as Gainesville's new Communications and Tourism Director
Catiel Felts will retire at the end of May and Nikki Perry will take over as Communications and Tourism Director for the city
12:03PM ( 3 days ago )
Politics
Shots fired at State Trooper lead to multi-agency chase and arrest
Seven agencies combined efforts Thursday after shots were fired at a Georgia State Trooper during a traffic stop in southern Hall County
By Staff
8:48AM ( 2 hours ago )
Lumpkin County murder-suicide shooter was fugitive from Tampa
The gunman in the Thursday morning murder-suicide in Lumpkin County is identified at Kelley James McDonald Jr. 39, Tampa.
1:19AM ( 10 hours ago )
High speed chase leads to several charges against five men
Forsyth County deputies say five Atlanta men face many charges in several jurisdictions.
12:13AM ( 11 hours ago )
Gainesville Police ask: ‘What would you do?’ (AUDIO)
Gainesville Police Corporal Drew Reed asked the same question several times during his presentation: “What would you do?”
10:08PM ( 13 hours ago )
Masters golf fans hurt when bus overturns on interstate
Authorities say a tour bus headed to the Masters golf tournament flipped over on a Georgia interstate, injuring 15 people
7:42PM ( 15 hours ago )