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. # # #