Deal: September tax revenues up 2.5 percent

October 7, 2016

Gov. Nathan Deal today announced that net tax collections for September totaled approximately $2.01 billion, for an increase of $48.3 million, or 2.5 percent, compared to September 2015. Year-to-date, net tax revenue collections totaled $5.31 billion, for an increase of $183 million, or 3.6 percent, compared to last year, when net tax revenues totaled nearly $5.13 billion at the end of the first quarter. 

The changes within the following tax categories account for September’s overall net tax revenue increase:

Individual Income Tax: Individual Income Tax collections for the month totaled nearly $1.02 billion, an increase of $3.4 million, or 0.3 percent, compared to September 2015, when net income tax collections totaled $1.01 billion.

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

  • Individual Income Tax Withholding payments were up nearly $7.5 million, or 0.9 percent.
  • Income Tax refunds, totaling $64.4 million during the month, were up $17.5 million, or 37.3 percent.
  • Non-Resident Income Tax Return payments increased almost $9.7 million, or 26.7 percent.
  • All other Individual Tax categories, including Estimated Return payments, were up a combined $3.7 million.

Sales and Use Tax: Gross Sales Tax collections during the month increased $14.1 million, or 1.6 percent, over last year. Net Sales Tax totaled $466.3 million, for an increase of roughly $22.2 million, or 5.0 percent, compared to September 2015, when net sales tax totaled $444.1 million. The adjusted Sales Tax distribution to local governments totaled approximately $406.0 million, which was a decrease of $7.8 million, or -1.9 percent, compared to last year. Lastly, Sales Tax refunds also decreased by $0.2 million, or -3.1 percent, compared to September 2015. 

Corporate Income Tax: Corporate Income Tax collections totaled approximately $183.5 million, a decrease of nearly $3.7 million, or -2 percent, compared to last year, when net Corporate Tax revenues totaled $187.1 million.

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

  • Corporate Tax refunds issued (net of voided checks) were up $22.2 million, or 114.7 percent.
  • Corporate Income Tax Return payments were up $9 million, or 51.2 percent.
  • All other Corporate Tax categories, including Estimated Return payments, increased $9.5 million.

Motor Fuel Taxes: Motor Fuel Tax collections in September totaled almost $152 million, for an increase of nearly $6.7 million, or 4.6 percent, compared to September 2015.

Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fee collections increased $0.7 million, or 2.4 percent, compared to September 2015. Title Ad Valorem Tax collections increased $14.2 million, or 17.8 percent, compared to last year.