Gov. Kemp: October Net Tax Revenues Up 6.9%

ATLANTA – The State of Georgia’s net tax collections during the month of October approached $2.71 billion for an increase of $175.9 million, or 6.9 percent, compared to FY 2025 when net tax collections totaled roughly $2.53 billion for the month. Year to date, net tax revenue collections totaled $10.88 billion for an increase of $240.4 million, or 2.3 percent, compared to October 2024, when net tax collections totaled almost $10.64 billion.

The changes within the following tax categories account for October’s overall net tax revenue increase:
 
Individual Income Tax: Individual Income Tax collections during October approached $1.34 billion, for an increase of $78.7 million compared to last year, when net Individual Tax collections totaled nearly $1.26 billion.

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

• Individual Income Tax refunds issued (net of voided checks) increased by $10.2 million or 4.2 percent
• Income Tax Withholding payments for October decreased by $7.9 million, or -0.6 percent, from FY 2025
• Individual Income Tax Return payments increased by $82.8 million, or 45.7 percent, over October 2024
• Individual Income Tax Estimated payments increased by $9.1 million, or 28.8 percent, from FY 2025
• All other Individual Tax categories, including S-Corp payments, were up a combined $4.9 million

Sales and Use Tax: Gross Sales and Use Tax collections in October totaled $1.6 billion -- an increase of $89.8 million, or 5.9 percent, over FY 2025. Net Sales and Use Tax increased by $46.1 million, or 6.2 percent, compared to last year when net Sales Tax revenue totaled $743.9 million. The adjusted Sales Tax distribution to local governments totaled $797.1 million, which was an increase of $49 million, or 6.6 percent, from last year’s adjusted distribution total of $748 million. Sales Tax refunds declined by $5.3 million compared to FY 2025.

Corporate Income Tax: Corporate Income Tax collections for October decreased by $8.5 million, or -12.2 percent, compared to last year, when net Corporate Tax revenues totaled nearly $69.6 million.

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

• Corporate Income Tax refunds issued (net of voids) were up $30.9 million compared to October 2024
• Corporate Income Tax Estimated payments increased by $27.9 million, or 51.1 percent, from FY 2025
• All other Corporate Tax payments, including Corporate Return payments, were down a combined $5.5 million

Motor Fuel Taxes: Motor Fuel Tax collections for the month increased by $14.2 million, or 8 percent, compared to FY 2025, when motor fuel tax collections totaled $177.9 million in October.

Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for the month increased by roughly $8.6 million, or 26.6 percent, compared to last year, while Title ad Valorem Tax (TAVT) collections increased by nearly $7.9 million, or 11.8 percent, compared to the previous October.