For immediate release Dec. 7, 2017 Office of Communications (404) 651-7774 Deal: November tax revenues up 7.3 percent Gov. Nathan Deal today announced that Georgia's net tax collections for November totaled $1.84 billion, for an increase of nearly $124.7 million, or 7.3 percent, compared to last year when net tax collections totaled $1.72 billion. Year-to-date, net tax collections totaled almost $9.04 billion, for an increase of $238.6 million, or 2.7 percent, over November 2016, when net tax revenues totaled roughly $8.8 billion, five months into the fiscal year. The changes within the following tax categories contributed to the overall net tax revenue increase in November: Individual Income Tax: Individual Income Tax collections for the month totaled $954.6 million, up from approximately $863.9 million in November 2016, for an increase of nearly $90.8 million, or 10.5 percent. The following notable components within Individual Income Tax combine for the net increase: Individual Income Tax refunds issued (net of voided checks) were down $7.1 million, or -10.9 percent. Individual Withholding payments were up $78 million, or 8.8 percent. Individual Income Tax Return payments were up $8.9 million, or 230.2 percent. All other Individual Tax categories, including Estimated Tax payments, were down a combined $3.2 million. Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month totaled $911.7 million, for an increase of $45.5 million, or 5.3 percent, over last year. Net Sales and Use Tax revenue totaled $465.9 million, for an increase of $8.4 million, or 1.8 percent, compared to November 2016, when net sales tax totaled $457.5 million. The adjusted distribution of sales tax to local governments totaled $442.6 million, for an increase of almost $38.5 million, or 9.5 percent, over last year. Finally, sales tax refunds decreased by $1.4 million, or -30.8 percent, from a total of $4.5 million in November 2016. Corporate Income Tax: Corporate Income Tax collections for November increased by $7.3 million, or 42.8 percent, compared to last year when net Corporate Tax collections totaled $17 million. The following components within Corporate Income Tax make up the net increase: Corporate Income Tax refunds issued (net of voided checks) were down $9.2 million, or -54.2 percent. Corporate Tax Estimated payments were up $5 million, or 23.6 percent. All other Corporate Tax categories, including Corporate Return payments, were down a combined $6.9 million. Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled $154.5 million, for an increase of $3.9 million, or 2.6 percent, compared to November 2016. Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for November totaled $27.2 million, for an increase of $1.4 million, or 5.5 percent, over last year. Title Ad Valorem Tax (TAVT) collections decreased by $4.1 million, or -5.1 percent, compared to November 2016, when TAVT collections totaled approximately $79.1 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 November 2017 November 2016 $ 954,613 $ 863,853 $ 24,273 $ 17,002 $ Change $ 90,760 $ 7,271 Sales and Use Tax - General: Sales and Use Tax - Gross (Note 2b) $ Local Distribution (Note 1) $ Adjustments \ Refunds $ Net Sales and Use Tax - General $ 911,652 $ (442,636) $ (3,137) $ 465,879 $ 866,159 $ (404,140) $ (4,534) $ 457,485 $ 45,493 (38,496) 1,397 8,394 Motor Fuel Taxes (Note 2a) Tobacco Taxes Alcoholic Beverages Tax Property Tax $ 154,513 $ 150,603 $ 3,910 $ 19,763 $ 18,567 $ 1,196 $ 15,823 $ 15,340 $ 483 $ 17 $ 27 $ (10) Motor Vehicle Revenues: Highway Impact Fees Tag, Title and Fees Title Ad Valorem Tax Motor Vehicle Subtotal $ 660 $ 710 $ (50) $ 27,210 $ 25,787 $ 1,423 $ 75,028 $ 79,080 $ (4,052) $ 102,898 $ 105,577 $ (2,679) Total Net Taxes - Subtotal $ Interest, Fees and Sales: Hotel \ Motel Fees $ Other Interest, Fees & Sales (Note 3) $ 1,737,777 $ 15,316 $ 90,951 $ 1,628,453 $ 109,324 15,811 $ 75,108 $ (495) 15,843 Total State General Fund Receipts $ 1,844,044 $ 1,719,372 $ 124,673 % Change 10.5% 42.8% 5.3% -9.5% 30.8% 1.8% 2.6% 6.4% 3.2% -37.0% -7.1% 5.5% -5.1% -2.5% 6.7% -3.1% 21.1% 7.3% 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 $ 4,628,327 $ 255,553 FY 2017 $ 4,454,926 $ 248,580 $ Change % Change $ 173,401 $ 6,972 3.9% 2.8% $ 4,685,548 $ 4,434,907 $ 250,641 $ (2,254,437) $ (2,049,212) $ (205,226) $ (32,279) $ (38,956) $ 6,677 $ 2,398,832 $ 2,346,739 $ 52,093 $ 758,751 $ 739,231 $ 19,520 $ 95,757 $ 94,040 $ 1,717 $ 81,646 $ 81,080 $ 566 $ 1,291 $ 1,145 $ 147 $ 3,486 $ 4,256 $ (770) $ 155,968 $ 142,521 $ 13,447 $ 399,958 $ 432,549 $ (32,591) $ 559,412 $ 579,325 $ (19,913) $ 8,779,569 $ 8,545,066 $ 234,503 5.7% -10.0% 17.1% 2.2% 2.6% 1.8% 0.7% 12.8% -18.1% 9.4% -7.5% -3.4% 2.7% $ 75,243 $ 74,523 $ 720 $ 181,828 $ 178,427 $ 3,401 $ 9,036,641 $ 8,798,016 $ 238,625 1.0% 1.9% 2.7% 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.