Press release, 2017 August 7 [Aug. 7, 2017]

For immediate release Aug. 7, 2017

Office of Communications (404) 651-7774

Deal: July tax revenues up 7.1 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for July totaled nearly $1.72 billion, for an increase of $113.4 million, or 7.1 percent, compared to last year when net tax collections totaled roughly $1.61 billion. Gross tax revenue receipts for the month totaled $2.27 billion, for an increase of $112.5 million, or 5.2 percent, compared to July 2016.
The changes within the following tax categories contributed to the overall net tax revenue increase in July:
Individual Income Tax: Individual Income Tax collections for the month totaled $861.5 million, up from nearly $780.7 million in July 2016, for an increase of roughly $80.9 million, or 10.4 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 $15.5 million, or 15.2 percent. Individual Income Tax Withholding payments were up $64.9 million, or 7.7 percent. All other Individual Tax categories, including Estimated payments, were up a combined $0.5 million.

Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month increased by $46.7 million, or 5.1 percent, compared to July 2016. Net Sales and Use Tax revenue increased by $24.7 million, or 5.1 percent, compared to last year when net sales and use totaled $484 million. The adjusted distribution of sales tax to local governments totaled $444.7 million, for an increase of $27.5 million, or 6.6 percent, compared to July 2016. Finally, sales tax refunds decreased by $5.5 million, or -58 percent, compared to last year.
Corporate Income Tax: Corporate Income Tax collections for July totaled nearly $19.4 million, for an increase of $13 million, or 205.6 percent, compared to last year when net Corporate Tax revenues totaled $6.3 million.
The following components within Corporate Income Tax make up the net increase: Corporate Tax refunds issued (net of voided checks) were down $13.5 million, or -44.1
percent. Corporate Tax Return payments were up $3.2 million, or 73.6 percent. All other Corporate Taxes, including Estimated payments, were down a combined $3.7
million, or -11.4 percent.
Motor Fuel Taxes: Motor Fuel Tax collections for July decreased by nearly $0.1 million, or -0.1 percent, compared to last year when Motor Fuel Tax revenues totaled $146.1 million.
Motor Vehicle Tag & Title Fees: Tag and Title Fee collections for July increased by $7.4 million, or 28.4 percent, compared to July 2016. Title Ad Valorem Tax (TAVT) collections for the month totaled $81.5 million, for a decrease of $10 million, or -11 percent, compared to last 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

July 2018

July 2017

$

861,512 $

780,655

$

19,363 $

6,337

$ Change

$

80,857

$

13,026

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

957,429 $ (444,689) $
(3,989) $ 508,751 $

910,684 $ (417,179) $
(9,498) $ 484,008 $

46,744 (27,510)
5,509 24,744

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

$

145,964 $

146,055 $

(91)

$

20,110 $

18,144 $

1,966

$

17,968 $

18,106 $

(139)

$

10 $

111 $

(101)

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

$

686 $

1,115 $

(429)

$

33,617 $

26,179 $

7,438

$

81,475 $

91,510 $

(10,035)

$

115,778 $

118,804 $

(3,027)

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,689,456 $
15,189 $ 14,744 $

1,572,220 $

117,236

14,867 $ 18,867 $

322 (4,122)

Total State General Fund Receipts

$

1,719,389 $

1,605,953 $

113,435

% Change
10.4% 205.6%
5.1% -6.6% 58.0% 5.1% -0.1% 10.8% -0.8% -90.8%
-38.5% 28.4% -11.0% -2.5%
7.5%
2.2% -21.9%
7.1%

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

$

861,512

$

19,363

FY 2017

$

780,655

$

6,337

$ Change % Change

$

80,857

$

13,026

10.4% 205.6%

$

957,429 $

910,684 $

46,744

$

(444,689) $

(417,179) $

(27,510)

$

(3,989) $

(9,498) $

5,509

$

508,751 $

484,008 $

24,744

$

145,964 $

146,055 $

(91)

$

20,110 $

18,144 $

1,966

$

17,968 $

18,106 $

(139)

$

10 $

111 $

(101)

$

686 $

1,115 $

(429)

$

33,617 $

26,179 $

7,438

$

81,475 $

91,510 $

(10,035)

$

115,778 $

118,804 $

(3,027)

$

1,689,456 $

1,572,220 $

117,236

5.1% -6.6% 58.0% 5.1%
-0.1% 10.8% -0.8% -90.8%
-38.5% 28.4% -11.0% -2.5%
7.5%

$

15,189 $

14,867 $

322

$

14,744 $

18,867 $

(4,122)

$

1,719,389 $

1,605,953 $

113,435

2.2% -21.9%
7.1%

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.