Press release, Dec. 8, 2004

Wednesday, December 8, 2004

Contact: Office of Communications 404-651-7774

Governor Perdue Announces November Revenue Figures

ATLANTA, GA Governor Sonny Perdue announced today that net revenue collections for the month of November 2004 (FY05) totaled $1,148,740,000 compared to $1,084,150,000 for November 2003 (FY04). This represents an increase of $64,590,000 (6.0%) over the previous year.
The percentage increase year-to-date for FY05 compared to FY04 is 10.3%. There have been four additional deposit days in FY05 compared to FY04.
GEORGIA DEPARTMENT OF REVENUE
Comparative Net Revenue Collections (unaudited - 000's)

For the Month Ended

GENERAL FUND

November 2003 (FY 2004)

November 2004 (FY 2005)

Tax Revenues:

Income Tax - Individual

$594,489

$604,328

Sales and Use Tax - General $349,287

$399,873

Motor Fuel Taxes:

Prepaid Motor Fuel Sales Tax

$21,395

$28,576

Motor Fuel Excise Tax

$45,296

$45,005

Total Motor Fuel Taxes $66,691

$73,581

Income Tax - Corporate

$(10,594)

$(4,378)

$ Change
$9,839 50,586
$7,181 $(291) $6,890 $6,216

% Change
1.7% 14.5%
33.6% -0.6% 10.3% 58.7%

Tobacco Taxes Alcohol Beverages Tax Estate Tax Property Tax
Total Tax Revenues Other Revenues:
Other Fees and Sales

$16,818 $14,308 $2,347 $14,635 $1,047,981
$36,169

Total Taxes/Other Revenues $1,084,150

GENERAL FUND

FY 2004

Tax Revenues:

Income Tax - Individual

$2,707,616

Sales and Use Tax - General $1,918,066

Motor Fuel Taxes:

Prepaid Motor Fuel SalesTax

$98,763

Motor Fuel Excise Tax

$203,054

Total Motor Fuel Taxes $301,817

Income Tax - Corporate

$65,297

Tobacco Taxes

$69,471

Alcohol Beverages Tax

$59,840

$19,301 $10,731 $2,238 $9,027 $1,114,701

$2,483 $(3,577) $(109) $(5,608) $66,720

14.8% -25.0% -4.6% -38.3%
6.4%

$34,039

$(2,130)

-5.9%

$1,148,740 FY 2005

$64,590 $
Change

6.0% % Change

$2,921,167 $2,096,203

$213,551 $178,137

7.9% 9.3%

$131,813 $194,001 $325,814 $145,435 $92,682 $60,201

$33,050 $(9,053) $23,997 $80,138 $23,211 $361

33.5% -4.5% 8.0% 122.7% 33.4% 0.6%

Estate Tax Property Tax
Total Tax Revenues Other Revenues:
Other Fees and Sales

$18,359 $26,388 $5,166,854
$48,205

Total Taxes/Other Revenues $5,215,059

$23,923 $22,934 $5,688,359
$65,724
$5,754,083

$5,564 $(3,454) $521,505

30.3% -13.1% 10.1%

$17,519

36.3%

$539,024

10.3%

Notes:
1. Totals do not include Motor Vehicle License Tax, Insurance Premium Tax, Peace Officers' and Prosecutors Training Fund fees and State Children's Trust fund.
2. Other Fees and Sales include taxes and fees that have been deposited in the bank, but the returns have not been processed. It also includes unclaimed property collections.
3. FY 2004 numbers were adjusted in the following manner:
- Income Tax - Individual was increase by $16.8M as a result of allocating the accelerated withholding collections evenly throughout 2004.
- $21M was reclassed from Sales and Use Tax in October 2003 and reported as Prepaid Motor Fuel Sales Tax.
- $108K was excluded from Other Fees and Sales because the Department no longer collects State Childrens' Trust funds.
- For the months of October 2003 and December 2003, $179K and $192K in Other Fees and Sales were reported on the following graph but not on this "Comparative Net Revenue Collections" report.
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