- Collection:
- Georgia Government Publications
- Serial:
- Press release.
- Title:
- Press release, 2020 May 6
- Creator:
- Georgia. Office of the Governor
- Contributor to Resource:
- Georgia. Office of the Governor
- Publisher:
- Atlanta, Ga. : Georgia. Office of the Governor
- Date of Original:
- 2020-05-06
- Subject:
- Georgia--Politics and government--Periodicals
- Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- serials (publications)
- Type:
- Text
- Format:
- application/pdf
- Description:
- Nov. 6, 2002; title from contents screen (GALILEO, viewed June 3, 2007).
June 1, 2007, viewed June 3, 2007. - External Identifiers:
- Call Number GA G600 .P1 P7 2020/5-6
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_i-ga-bg600-b-pp1-bp7-b2020-s5-h6-belec-p-btext
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_i-ga-bg600-b-pp1-bp7-b2020-s5-h6-belec-p-btext
- Language:
- eng
- Holding Institution:
- University of Georgia. Map and Government Information Library
- Rights:
-
April Tax Revenues Fall -35.9%
https://madmimi.com/p/4fffa01?pact=855283-158220375-11554464864... Like Tweet Pin +1 in
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For Immediate Release Wednesday, May 6, 2020
April Tax Revenues Fall -35.9%
Atlanta, GA - The State of Georgia's April net tax collections totaled nearly $1.84 billion for a decrease of $1.03 billion, or -35.9 percent, compared to April 2019 when net tax collections totaled $2.87 billion. Year-to-date net tax collections totaled $19.23 billion for a decrease of nearly $680 million, or -3.4 percent, compared to the previous fiscal year (FY) when net tax revenues totaled $19.91 billion.
Changes within the following tax categories for April are largely attributable to the economic impact of the COVID-19 pandemic. In particular, the shifting of payment deadlines related to Motor Vehicle, Corporate Tax, and especially Individual Income Tax have had a profound impact on typical state revenue collection activity, resulting in the dramatic reduction of April and year-to-date FY 2020 tax revenues as outlined below.
Individual Income Tax: Individual Income Tax collections for April declined by $732 million, or -46.2 percent, down from April 2019 when net Individual Tax revenues totaled roughly $1.58 billion. Individual Income Tax refunds issued - net of voided checks decreased by $253.6 million or -44.3 percent. Individual Income Tax Return payments decreased by $830.9 million, or -88.9 percent, from last year. Individual Withholding payments for the month were up $15.4 million, or 1.6 percent, over last year. All other categories, including non-resident income tax payments, were down a combined $170.1 million.
Sales and Use Tax: Gross Sales and Use Tax collections totaled $995.7 million for the month, which was a decrease of roughly $107 million, or -9.7 percent, compared to April 2019. Net Sales and Use Tax declined by $82.4 million, or -14.3 percent, compared to FY 2019, when net sales tax totaled $574.6 million. The adjusted Sales Tax distribution to local governments totaled $491.4 million for a decrease of $33.4 million, or -6.4 percent, from April 2019. Lastly, Sales Tax Refunds increased by nearly $8.8 million compared to FY 2019.
Corporate Income Tax: Net Corporate Income Tax collections decreased by nearly
5/7/2020, 8:17 AM
April Tax Revenues Fall -35.9%
https://madmimi.com/p/4fffa01?pact=855283-158220375-11554464864...
2020 Office of Georgia Governor Brian P. Kemp | Georgia State Capitol Web Version Preferences Forward Unsubscribe A GoDaddy company
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5/7/2020, 8:17 AM