Thursday, February 26, 2004
Contact: Office of Communications 404-651-7774
Governor Perdue Announces February Revenue Collections
Atlanta - Governor Sonny Perdue announced today that net revenue collections for the month of February 2004 (FY04) totaled $929,079,000 compared to $946,729,000 for February 2003 (FY03), a decrease of $17,650,000 or -1.9%. The percentage increase year-to-date for FY04 compared to FY03 is 4.0%.
"The February revenue figures reflect that we must continue to be conservative and disciplined with our budget," said Governor Sonny Perdue. "My office will continue to monitor revenues on a day-to-day basis given the seriousness of our current budget situation."
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Georgia Department of Revenue Comparative Net Revenue Collections
(unaudited - 000's)
GENERAL FUND Sales Tax - General Motor Fuel - Gal. & Sales Income Tax - Individual Income Tax - Corporate Tobacco Taxes Alcoholic Beverage Taxes Estate Tax Property Tax Total Taxes
Other Revenues: Peace Officer Training
For the Month Ended
February 2003 (FY
2003)
February 2004 (FY
2004)
465,782
476,040
39,276
66,751
395,495
346,707
5,671
8,221
19,597
16,383
16,063
12,929
7,435
2,415
5,424
7,631
954,743
937,077
$ Change
10,258 27,475 (48,788) 2,550 (3,214) (3,134) (5,020) 2,207 (17,666)
% Change
2.2% 70.0% -12.3% 45.0% -16.4% -19.5% -67.5% 40.7% -1.9%
2,181
1,831
(350)
-16.0%
Other Fees and Sales Total Regulatory Fees & Sales
Net Revenue
GENERAL FUND Sales Tax - General Motor Fuel Tax - Gals. & Sales Income Tax - Individual Income Tax - Corporate Tobacco Taxes Alcoholic Beverage Taxes Estate Tax Property Tax Total Taxes
Other Revenues: Peace Officer Training Other Fees and Sales
Total Regulatory Fees & Sales
Net Revenue
Notes:
(10,195) (8,014)
(9,829) (7,998)
366
3.6%
16
0.2%
946,729
929,079
(17,650)
-1.9%
Year-to-date
FY 2003
FY 2004
3,221,026
3,370,195
312,937
347,090
4,323,464
4,492,553
186,098
152,574
60,589
124,083
90,961
99,688
58,743
31,445
50,271
55,165
8,304,089
8,672,793
$ Change 149,169
34,153 169,089 (33,524) 63,494
8,727 (27,298)
4,894 368,704
% Change
4.6% 10.9% 3.9% -18.0% 104.8% 9.6% -46.5% 9.7% 4.4%
13,911 72,713 86,624
14,126 39,417 53,543
215 (33,296) (33,081)
1.5% -45.8% -38.2%
8,390,713
8,726,336
335,623
4.0%
1. FY 2004 comparative report has changed. Current year totals are reported on the right of prior year.
2. Totals do not include Insurance Premium Tax and Fees and Motor Vehicle License Taxes.
3. Major tax categories are reported. Other taxes and fees are included in "Other Fees and Sales".
4. Other Fees and Sales include taxes that have been deposited in the bank, but the returns have not been processed. It also includes unclaimed property and children's trust fund. 5. In February 2004 Motor Fuel collections included a prepaid state tax on motor fuel (a 4% sales tax previously reported in Sales Tax -General). For comparison purposes, the motor fuel excise tax and prepaid state tax for February 2003 would have been $61.8 million.