Press release, 2017 November 9

For immediate release Nov. 9, 2017

Office of Communications (404) 651-7774

Deal: October tax revenues down -3.2 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for October totaled $1.71 billion, for a decrease of $56.5 million, or -3.2 percent, compared to last year when net tax collections totaled nearly $1.77 billion. Year-to-date, net tax collections totaled almost $7.19 billion, for an increase of $114 million, or 1.6 percent, over October 2016 when net tax revenues totaled roughly $7.08 billion, four months into the fiscal year.

The Department of Revenue's recent internal computer system upgrade permitted a one-time reconciliation which validated the release of additional refunds.

The changes within the following tax categories contributed to the overall net tax revenue decrease in October:

Individual Income Tax: Individual Income Tax collections for the month totaled $897.5 million, down from approximately $924.6 million in October 2016, for a decrease of nearly $27 million, or -2.9 percent.

The following notable components within Individual Income Tax combine for the net decrease:
Individual Income Tax refunds issued (net of voided checks) were up $28.1 million, or 21 percent.
Individual Withholding payments were up $17.5 million, or 1.9 percent.
Individual Income Tax Return payments were down $26.8 million, or -24.3 percent.
All other Individual Tax categories, including Estimated Tax payments, were up a combined $10.4 million.
Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month totaled $931.2 million, for an increase of $40.2 million, or 4.5 percent, over last year. Net Sales and Use Tax revenue totaled $479.8 million, for an increase of $16 million, or 3.5 percent, compared to October 2016, when net sales tax totaled $463.8 million. The adjusted distribution of sales tax to local governments totaled $444.4 million, for an increase of almost $31.8 million, or 7.7 percent, over last year. Finally, sales tax refunds decreased by $7.6 million, compared to October 2016.
Corporate Income Tax: Corporate Income Tax collections for October decreased by $23.5 million, or -110.1 percent, compared to last year when net Corporate Tax collections totaled nearly $21.4 million.
The following components within Corporate Income Tax make up the net decrease:
Corporate Income Tax refunds issued (net of voided checks) were up $59.3 million, or 672.8 percent.
Corporate Tax Estimated payments were up $31.2 million, or 162.4 percent.
All other Corporate Tax categories, including Corporate Net Worth payments, were up a combined $4.6 million.

Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled almost $146.5 million, for an increase of $3.1 million, or 2.2 percent, compared to October 2016.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for October totaled $33.3 million, for an increase of approximately $3.4 million, or 11.2 percent, over last year. Title Ad Valorem Tax (TAVT) collections decreased by $11.9 million, or -14 percent, compared to October 2016, when TAVT collections totaled nearly $85.3 million.
Jen Talaber Ryan jen.ryan@georgia.gov
John Vaughan john.vaughan@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

October 2017

October 2016

$

897,519 $

924,560

$

(2,155) $

21,352

$ Change

$

(27,041)

$

(23,508)

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

931,200 $ (444,404) $
(6,989) $ 479,807 $

891,008 $ (412,651) $
(14,571) $ 463,786 $

40,192 (31,753)
7,582 16,021

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

$

146,452 $

143,352 $

3,099

$

16,370 $

17,753 $

(1,383)

$

15,739 $

16,124 $

(385)

$

1,021 $

1,003 $

18

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

$

706 $

656 $

50

$

33,288 $

29,929 $

3,359

$

73,331 $

85,258 $

(11,927)

$

107,324 $

115,842 $

(8,518)

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,662,077 $
14,991 $ 34,453 $

1,703,773 $

(41,696)

14,214 $ 50,013 $

777 (15,560)

Total State General Fund Receipts

$

1,711,521 $

1,768,000 $

(56,479)

% Change
-2.9% -110.1%
4.5% -7.7% 52.0% 3.5% 2.2% -7.8% -2.4% 1.8%
7.6% 11.2% -14.0% -7.4%
-2.4%
5.5% -31.1%
-3.2%

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 2018

$

3,673,715

$

231,280

FY 2017

$

3,591,073

$

231,579

$ Change % Change

$

82,642

$

(299)

2.3% -0.1%

$

3,773,896 $

3,568,747 $

205,149

$

(1,811,801) $

(1,645,072) $ (166,730)

$

(29,142) $

(34,422) $

5,281

$

1,932,953 $

1,889,253 $

43,699

$

604,238 $

588,628 $

15,610

$

75,994 $

75,472 $

522

$

65,823 $

65,740 $

83

$

1,274 $

1,118 $

156

$

2,826 $

3,546 $

(719)

$

128,758 $

116,734 $

12,024

$

324,930 $

353,469 $

(28,539)

$

456,514 $

473,749 $

(17,234)

$

7,041,792 $

6,916,613 $

125,179

5.7% -10.1% 15.3%
2.3%
2.7% 0.7% 0.1% 14.0%
-20.3% 10.3% -8.1% -3.6%
1.8%

$

59,927 $

58,712 $

1,215

$

90,877 $

103,320 $

(12,442)

$

7,192,596 $

7,078,645 $

113,951

2.1% -12.0%
1.6%

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.