The State of Georgia’s net tax collections in October totaled nearly $2.02 billion, for an increase of $35.2 million, or 1.8 percent, compared to last year when net tax collections totaled $1.98 billion. Year-to-date, net tax revenue collections totaled $8.21 billion, for an increase of $400.2 million, or 5.1 percent, compared to October FY 2020.

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

•Individual income tax: Individual income tax collections for October decreased by roughly $12.9 million, or -1.2 percent, down from FY 2020 when net individual tax revenues totaled more than $1.05 billion.

•Sales and use tax: Gross sales and use tax collections increased by $66.4 million, or 6.3 percent, up from last year when gross sales tax approached $1.06 billion.

•Corporate income tax: Net corporate income tax collections decreased by nearly $21.3 million, or -28.8 percent, compared to October 2019, when net corporate tax revenues totaled $73.7 million for the month.

•Motor Fuel Taxes: Motor Fuel Tax collections during the month increased by $2.6 million, or 1.7 percent, up from a total of $150.9 million in FY 2020.

•Motor vehicle - tag and title fees: Motor vehicle tag and title fee collections declined by roughly $0.8 million, or -2.2 percent, compared to October 2019, when motor vehicle fees totaled $35 million. In contrast, title ad valorem tax (TAVT) collections increased by $3.9 million, or 7 percent, compared to last year’s total of nearly $55.3 million.

Locations

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.