Gov. Kemp Announces August Net Tax Revenues Up 12.7 Percent
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For Immediate Release Wednesday, September 8, 2021
Gov. Kemp Announces August Net Tax Revenues Up 12.7 Percent
Atlanta, GA - Today, Governor Brian P. Kemp announced that Georgia's August net tax collections totaled nearly $2.13 billion, for an increase of $240 million, or 12.7 percent, compared to August 2020, when net tax collections totaled almost $1.89 billion. Year-todate, net tax revenue collections totaled $4.28 billion, for an increase of $248.7 million, or 6.2 percent, compared to FY 2021 after two months.
The changes within the following tax categories account for August's overall net tax revenue increase:
Individual Income Tax: Individual Income Tax collections during the month approached $1.11 billion, up from $970.3 million in August 2020, for an increase of roughly $134.8 million, or 13.9 percent.
The following notable components within Individual Income Tax combine for the net increase:
Individual Income Tax refunds issued (net of voided checks) were down $8.3 million, or decreased 8.6 percent. Individual Income Tax Withholding payments were up by $121.8 million, or increased 12.6 percent, over FY 2021. Individual Income Tax Return payments were down by $12.2 million, or decreased 34 percent, from last year. All other Individual Tax categories, including non-resident return payments, were up a combined $16.9 million.
9/10/2021, 8:31 AM
Gov. Kemp Announces August Net Tax Revenues Up 12.7 Percent
https://madmimi.com/p/4957d21?pact=57990-164666132-11554464864...
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9/10/2021, 8:31 AM