Deal: November tax revenues down -0.7 percent

December 7, 2018

Gov. Nathan Deal today announced that Georgia’s net tax collections for November totaled $1.83 billion, for a decrease of $13.1 million, or -0.7 percent, compared to last year when net tax collections totaled roughly $1.84 billion. Year-to-date, net tax revenue collections totaled almost $9.66 billion, for an increase of $619.4 million, or 6.9 percent, compared to November 2017, when tax revenues totaled approximately $9.04 billion. 

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

Individual Income Tax: Individual Income Tax collections for November totaled roughly $932 million, for a decrease of $22.6 million, or -2.4 percent, compared to last year when Individual Income Tax collections totaled $954.6 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 $4.8 million, or 8.3 percent.
  • Individual Withholding payments were down $10.9 million, or -1.1 percent.
  • Individual Income Tax Return payments were down $3.1 million, or -24.4 percent.
  • All other Individual Tax categories, including Estimated payments, were down a combined $3.8 million.

Sales and Use Tax: Gross Sales and Use Tax collections for the month totaled $1.01 billion, for an increase of $100.2 million, or 11 percent, compared to November 2017. Net Sales and Use Tax increased by $22.8 million, or 4.9 percent, compared to November 2017, when Net Sales and Use Tax totaled $465.9 million. The adjusted distribution of sales tax to local governments totaled roughly $521.8 million, for an increase of $79.1 million, or 17.9 percent, over last year. Finally, sales tax refunds decreased by $1.7 million, or -55.3 percent, compared to November 2017. 

Corporate Income Tax: Corporate Income Tax collections for November increased by $2.9 million, or 11.9 percent, compared to last year when net Corporate Tax revenues totaled nearly $24.3 million. 

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

  • Corporate Income Tax refunds issued (net of voided checks) were up $3.4 million, or 44.4 percent.
  • Corporate Income Tax Return payments were up $3.8 million, or 185.5 percent. 
  • All other Corporate Tax categories, including Corporate Estimated payments, were up a combined $2.5 million.

Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled $158.4 million, for an increase of nearly $3.9 million, or 2.5 percent, compared to November 2017. 

Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month increased by $3.6 million, or 13.4 percent, compared to November 2017. Title Ad Valorem Tax (TAVT) collections decreased by $3.3 million, or -4.4 percent, compared to last year. 

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