For immediate release June 6, 2016

Office of Communications (404) 651-7774

Deal: May tax revenues up 4.1 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for May totaled roughly $1.56 billion, for an increase of $58.6 million, or 4.1 percent, over May 2015. Year-to-date, net tax revenue collections totaled nearly $18.91 billion, for an overall increase of $1.7 billion, or 9.9 percent, compared to May 2015, when net tax revenues totaled $17.21 billion.

House Bill 170, which introduced an array of both tax reforms and new tax legislation beginning on July 1, generated transportation revenue of $72.7 million in May. As a result, total net tax collection revenue for May 2016 increased by 9.2 percent over May 2015.

The changes below within the following tax categories contributed to May's overall net tax revenue increase:

Individual Income Tax: Individual Income Tax collections for the month totaled $740.8 million, up from $707.2 million in May 2015, for an increase of $33.6 million, or 4.8 percent.

The following notable components within Individual Income Tax combine for the net increase:

Individual Income Tax Withholding payments were up $77.3 million, or 10.1 percent.
Income Tax refunds, totaling $199.2 million during the month, were up $62.2 million, or 45.4 percent.

All other Individual Tax categories, including Estimated Return payments, were up roughly $18.5 million.
Sales and Use Tax: Gross Sales Tax collections deposited during the month totaled $864.5 million, for an increase of $14.6 million, or 1.7 percent, compared to May 2015. Net Sales and Use Tax revenue increased $19.8 million, or 4.5 percent, compared to last year when net sales and use taxes totaled nearly $443 million. The adjusted distribution of sales tax to local governments totaled $401.7 million, which was an increase of $2.9 million, or 0.7 percent, over the previous fiscal year. Sales tax refunds were down $8.1 million, or -100.2 percent, compared to May 2015.
Corporate Income Tax: Corporate Income Tax collections in May totaled $27.1 million, which was a decrease of nearly $3.3 million, or -10.8 percent, compared to last year when net Corporate Tax revenues totaled $30.4 million.
The following notable components within Corporate Income Tax make up the net decrease:
Corporate Tax refunds issued (net of voids) were down $9 million, or -102.8 percent. Corporate Income Tax Return payments were down $7.7 million, or -57.9 percent. All other Corporate Taxes, including S-Corp and Estimated payments, were down a combined $4.6 million.
Motor Vehicle Tag & Title Fees: Tag and Title Fee collections increased by $5.1 million, or 21.4 percent, compared to May 2015. Title Ad Valorem Tax collections totaled $78.4 million, for an increase of nearly $4.6 million, or 6.2 percent, over the previous fiscal year.
Jen Talaber Ryan jen.ryan@georgia.gov
Alyssa Botts abotts@georgia.gov

GEORGIA DEPARTMENT OF REVENUE Comparative Summary of State General Fund Receipts
(unaudited - 000's)

State General Fund Receipts Net Tax Revenues: Income Tax - Individual Income Tax - Corporate

For the Month Ended

May FY '16

May FY '15

$

740,834 $

707,199

$

27,116 $

30,395

$ Change

$

33,635

$

(3,279)

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

864,468 $ (401,691) $
17 $ 462,794 $

849,846 $ (398,802) $
(8,062) $ 442,982 $

14,623 (2,889) 8,078 19,812

Motor Fuel Taxes (Note 2a) Tobacco Taxes Alcoholic Beverages Tax Property Tax

$

145,150 $

$

15,854 $

$

15,394 $

$

163 $

89,081 $ 19,881 $ 15,712 $
367 $

56,069 (4,027)
(318) (204)

Motor Vehicle Revenues: Highway Impact Fees Tag, Title and Fees Title Ad Valorem Tax
Motor Vehicle Subtotal

$

1,509 $

$

28,986 $

$

78,396 $

$

108,891 $

-

$

23,885 $

73,843 $

97,728 $

1,509 5,101 4,553 11,163

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,516,196 $
15,086 $ 33,741 $

1,403,345 $

112,851

-

$

30,346 $

15,086 3,396

Total State General Fund Receipts

$

1,565,024 $

1,433,691 $

131,333

% Change
4.8% -10.8%
1.7% -0.7% 100.2% 4.5% 62.9% -20.3% -2.0% -55.5%
21.4% 6.2%
11.4% 8.0%
11.2% 9.2%

State General Fund Receipts Net Tax Revenues: Income Tax - Individual Income Tax - Corporate
Sales and Use Tax - General: Sales and Use Tax - Gross (Note 2b) Local Distribution (Note 1) Adjustments \ Refunds
Net Sales and Use Tax - General
Motor Fuel Taxes (Note 2a) Tobacco Taxes Alcoholic Beverages Tax Property Tax
Motor Vehicle Revenues: Highway Impact Fees Tag, Title and Fees Title Ad Valorem Tax
Motor Vehicle Subtotal
Total Net Taxes - Subtotal
Interest, Fees and Sales: Hotel \ Motel Fees Other Interest, Fees & Sales (Note 3)
Total State General Fund Receipts

FY 2016

$

9,509,824

$

802,948

FY 2015

$

8,764,102

$

807,619

$ Change % Change

$

745,722

$

(4,672)

8.5% -0.6%

$

9,616,825 $

9,485,238 $

131,588

$

(4,487,102) $

(4,422,338) $

(64,764)

$

(104,925) $

(82,895) $

(22,030)

$

5,024,798 $

4,980,004 $

44,794

$

1,507,430 $

$

199,699 $

$

173,476 $

$

13,633 $

934,671 $ 196,131 $ 167,766 $
26,521 $

572,759 3,568 5,710
(12,888)

$

13,943 $

-

$

13,943

$

331,891 $

306,133 $

25,758

$

855,992 $

747,091 $

108,901

$

1,201,826 $

1,053,224 $

148,601

$

18,433,634 $

16,930,038 $ 1,503,596

$

136,097 $

-

$

136,097

$

337,529 $

281,625 $

55,904

$

18,907,260 $

17,211,663 $ 1,695,597

1.4% -1.5% -26.6% 0.9% 61.3% 1.8% 3.4% -48.6%
8.4% 14.6% 14.1%
8.9%
19.9%
9.9%

Footnotes: 1. The Local Distribution is adjusted with an accrual to reflect payment activity that occurs after the actual distribution (3 business days prior to the end of a month). 2. Both the a) 3% State Prepaid Motor Fuel Tax and b) 1% State Motor Fuel Sales Tax (2nd Motor Fuel) were repealed by Transportation Funding Act (HB 170).
3. "Other Interest, Fees & Sales" include payments that have been deposited in the bank, but for which returns may not have been processed. These undistributed tax payments are then re-classified (once the return is processed) to the appropriate revenue tax account. "Other" also includes Unclaimed Property collections.