Georgia’s March net tax revenues up 9.8%

Revenue
Testingfg of Ads
 

The State of Georgia’s net tax collections for March totaled $1.83 billion for an increase of $163.5 million, or 9.8 percent, compared to March 2019 when net tax collections totaled roughly $1.67 billion.

Year-to-date net tax collections totaled $17.39 billion, for an increase of $350.8 million, or 2.1 percent, compared to the previous fiscal year when net tax revenues totaled $17.04 billion.

 Individual Income Tax:Individual Income Tax collections totaled $971.4 million, which was an increase of roughly $197.5 million, or 25.5 percent, compared to last year when Income Tax collections totaled nearly $774 million. Individual Income Tax refunds issued – net of voided checks – were down $115.8 million, or -21.7 percent. Individual Withholding payments increased by $82.6 million, or 7.5 percent, compared to FY 2019. Individual Income Tax Return payments were up $10.5 million, or 18.3 percent, over last year. All other Individual Tax categories, including Estimated Tax payments, were down a combined $11.4 million.
 Sales and Use Tax:Gross Sales and Use Tax collections totaled $936 million during the month for a decrease of $10.5 million, or -1.1 percent, compared to FY 2019. Net Sales and Use Tax decreased by $11.4 million, or -2.4 percent, compared to last year when net sales tax totaled $468.5 million. The adjusted Sales Tax distribution to local governments totaled $467.8 million for a decrease of nearly $6.1 million, or -1.3 percent, compared to the previous fiscal year. Lastly, Sales Tax Refunds rose by $7 million, or 167 percent, compared to FY 2019.
 Corporate Income Tax:Corporate Income Tax collections during the month totaled almost $110.1 million for an increase of roughly $0.9 million, or 0.8 percent, compared to FY 2019. Corporate Income Tax refunds issued – net of voids – were up $21.1 million, or 138.2 percent. Corporate Income Tax Return payments increased roughly $15 million, or 43 percent, over last year. All other Corporate Tax types, including Corporate Estimated Tax payments, were up a combined $7 million.
 Motor Fuel Taxes:Motor Fuel Tax collections increased by nearly $5.8 million, or 4.1 percent, compared to FY 2019.
Motor Vehicle – Tag & Title Fees: Motor Vehicle Tag & Title Fees fell by nearly $2.5 million, or -6.9 percent, in March while Title Ad Valorem Tax (TAVT) collections decreased by $14.6 million, or -22.9 percent, from last year’s total of $63.8 million.

 

On Common Ground News


Leave a Reply

Your email address will not be published. Required fields are marked *

Testingfg of Ads

About us

On Common Ground News is published daily by On Common Ground, Inc (OCGNEWS.COM). The newspaper serves DeKalb, Gwinnett, Rockdale and Metro Atlanta.

The opinions expressed by writers and contributors are not necessarily those of the publisher or the newspaper’s advertisers.

No portion of this newspaper may be reproduced in any form without the written permission of the publisher.

We reserve the right to reject material and advertisements we deem inappropriate.


On Common Ground News
P.O. Box 904
Lithonia, GA 30058


(770) 679-5607

editor@ocgnews.com


Latest News

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: On Common Ground News, 1240 Sigman Road, Conyers, GA, 30012, https://www.ocgnews.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact