Press release, Sept. 12, 2016

For immediate release Sept. 12, 2016

Office of Communications (404) 651-7774

Deal: August tax revenues up 6.8 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for August totaled $1.69 billion, for an increase of $108 million, or 6.8 percent, compared to August 2015, when net tax collections totaled $1.58 billion. Year-to-date, net tax revenue receipts totaled almost $3.3 billion, for an increase of nearly $134.7 million, or 4.3 percent, compared to last year.
The changes within the following tax categories account for August's overall net tax revenue increase: Individual Income Tax: Individual Income Tax collections for the month totaled $870.2 million, an increase of $75.9 million, or 9.5 percent, compared August 2015, when net income tax collections totaled $794.4 million.
The following notable components within Individual Income Tax combine for the net increase:
Individual Income Tax refunds issued (net of voided checks) were up $53.3 million, or 103.8 percent. Individual income tax refunds, previously slowed down by increased fraud detection efforts by the Department of Revenue, are now caught up and no longer delayed. Individual Withholding payments for the month were up $122.4 million, or 15.3 percent. Non-Resident Income Tax Return payments were up $10.2 million, or 145.8 percent. All other Individual Tax categories, including Estimated Tax payments, were down a combined $3.4 million.

Sales and Use Tax: Gross Sales Tax collections increased $6.6 million, or 0.7 percent, over last year. Net Sales Tax totaled $475.2 million, for an increase of nearly $21.3 million, or 4.7 percent, compared to August 2015, when net sales tax totaled $453.9 million. The adjusted Sales Tax distribution to local governments totaled $409.2 million, which was a decrease of roughly $12.4 million, or -2.9 percent, compared to last year. Sales Tax refunds also decreased by $2.3 million, or -40.6 percent, compared to August 2015.
Corporate Income Tax: Corporate Income Tax collections in August totaled $20.4 million, for an increase of $0.8 million, or 4.2 percent, compared to last year, when net Corporate Tax revenues totaled $19.6 million.
The following notable components within Corporate Income Tax make up the net increase:
Corporate Tax refunds issued (net of voided checks) were down $8.1 million, or -70.9 percent. Corporate Income Tax Estimated payments decreased by $7.8 million, or -33.2 percent. All other Corporate Tax components combined for an increase of $0.5 million over last year.
Motor Fuel Taxes: Motor Fuel Tax collections in August totaled $147.2 million, for an increase of $3.2 million, or 2.2 percent, compared to August 2015.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fee collections increased by $1.4 million, or 4.7 percent, compared to August 2015. Title ad Valorem Tax collections totaled nearly $82.9 million, for an increase of $5 million, or 6.4 percent, compared to last year.
Jen Talaber Ryan jen.ryan@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

August 2016

August 2015

$

870,231 $

794,376

$

20,433 $

19,606

$ Change

$

75,856

$

827

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

$

887,769 $ (409,249) $
(3,361) $ 475,159 $
147,245 $ 18,647 $ 14,312 $ (76) $

881,192 $ (421,631) $
(5,657) $ 453,904 $
144,018 $ 17,685 $ 15,757 $ 262 $

6,578 12,382
2,296 21,256
3,227 962
(1,445) (338)

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

$

1,007 $

844 $

163

$

31,439 $

30,034 $

1,405

$

82,854 $

77,839 $

5,014

$

115,299 $

108,717 $

6,582

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,661,252 $
15,853 $ 13,257 $

1,554,326 $

106,926

14,979 $

874

13,051 $

206

Total State General Fund Receipts

$

1,690,362 $

1,582,356 $

108,006

% Change
9.5% 4.2%
0.7% 2.9% 40.6% 4.7% 2.2% 5.4% -9.2% -128.9%
19.3% 4.7% 6.4% 6.1%
6.9%
5.8% 1.6%
6.8%

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 2017

$

1,650,886

$

26,770

FY 2016

$

1,632,943

$

41,782

$ Change % Change

$

17,943

$

(15,012)

1.1% -35.9%

$

1,798,454 $

1,782,659 $

15,795

$

(826,428) $

(833,939) $

7,511

$

(12,859) $

(22,728) $

9,869

$

959,167 $

925,992 $

33,175

$

293,300 $

234,113 $

59,187

$

36,791 $

36,393 $

398

$

32,418 $

32,927 $

(509)

$

35 $

411 $

(375)

$

2,123 $

1,652 $

471

$

57,617 $

59,073 $

(1,456)

$

174,364 $

153,705 $

20,659

$

234,104 $

214,430 $

19,674

$

3,233,472 $

3,118,992 $

114,480

0.9% 0.9% 43.4% 3.6%
25.3% 1.1% -1.5%
-91.4%
28.5% -2.5% 13.4% 9.2%
3.7%

$

30,720 $

14,995 $

15,725

$

32,124 $

27,664 $

4,460

$

3,296,316 $

3,161,650 $

134,665

104.9% 16.1%
4.3%

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.