Press release, 2017 September 8

For immediate release Sept. 8, 2017

Office of Communications (404) 651-7774

Deal: August tax revenues down -0.2 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for August totaled nearly $1.69 billion, for a decrease of $4 million, or -0.2 percent, compared to August 2016. Year-to-date, net tax revenue collections totaled almost $3.41 billion, for an overall increase of $109.5 million, or 3.3 percent, over last year when net tax revenues totaled $1.69 billion.

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

Individual Income Tax: Individual Income Tax collections for the month totaled $862.4 million, down from $870.2 million in August 2016, for a decrease of $7.8 million, or -0.9 percent.

The following notable components within Individual Income Tax combine for the net decrease:
Individual Income Tax Withholding payments were down $29.4 million, or -3.2 percent.
Individual Income Tax refunds issued (net of voided checks) were down $23 million, or -22 percent.
All other Individual Tax categories, including Estimated Tax payments, were down a combined $1.4 million.

Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month increased by $51.5 million, or 5.8 percent, compared to August 2016. Net Sales and Use Tax

revenue totaled $463.9 million, for a decrease of $11.3 million, or -2.4 percent, compared to last year when net sales and use totaled $475.2 million. The adjusted distribution of sales tax to local governments totaled $471.7 million, for an increase of $62.4 million, or 15.3 percent, compared to August 2016. Finally, sales tax refunds increased by $0.4 million, or 10.5 percent, compared to last year.
Corporate Income Tax: Corporate Income Tax collections for August totaled $14.5 million, for a decrease of $5.9 million, or -28.9 percent, compared to last year when net Corporate Tax revenues totaled $20.4 million.
The following notable components within Corporate Income Tax combine for the net decrease: Corporate Income Tax Estimated Return payments were down $1 million, or -6.2 percent. Corporate Income Tax refunds issued (net of voided checks) were up $2.7 million, or 80.9 percent. All other Corporate Tax categories, including Return payments, were down a combined $2.2 million, or -27.5 percent.
Motor Fuel Taxes: Motor Fuel Tax collections for August increased by nearly $6.7 million, or 4.5 percent, compared to last year when Motor Fuel Tax revenues totaled roughly $147.2 million.
Motor Vehicle Tag & Title Fees: Tag and Title Fee collections for August increased by $1.1 million, or 3.5 percent, compared to August 2016. Title Ad Valorem Tax (TAVT) collections for the month totaled $86.9 million, for an increase of nearly $4 million, or 4.9 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

August 2017

August 2016

$

862,409 $

870,231

$

14,520 $

20,433

$ Change

$

(7,823)

$

(5,913)

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

939,292 $ (471,668) $
(3,713) $ 463,910 $

887,769 $ (409,249) $
(3,361) $ 475,159 $

51,522 (62,419)
(353) (11,250)

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

$

153,904 $

147,245 $

6,658

$

19,529 $

18,647 $

882

$

14,296 $

14,312 $

(17)

$

198 $

(76) $

274

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

$

781 $

999 $

(218)

$

32,550 $

31,447 $

1,103

$

86,893 $

82,854 $

4,040

$

120,225 $

115,299 $

4,925

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,648,990 $
15,428 $ 21,969 $

1,661,252 $

(12,261)

15,853 $ 13,257 $

(425) 8,712

Total State General Fund Receipts

$

1,686,388 $

1,690,362 $

(3,974)

% Change
-0.9% -28.9%
5.8% -15.3% -10.5%
-2.4% 4.5% 4.7% -0.1% -361.8%
-21.8% 3.5% 4.9% 4.3%
-0.7%
-2.7% 65.7%
-0.2%

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

$

1,723,921

$

33,883

FY 2017

$

1,650,886

$

26,770

$ Change % Change

$

73,035

$

7,113

4.4% 26.6%

$

1,896,720 $

1,798,454 $

98,267

$

(916,357) $

(826,428) $

(89,930)

$

(7,702) $

(12,859) $

5,157

$

972,661 $

959,167 $

13,494

$

299,867 $

293,300 $

6,567

$

39,639 $

36,791 $

2,848

$

32,263 $

32,418 $

(155)

$

209 $

35 $

173

$

1,467 $

2,114 $

(647)

$

66,167 $

57,626 $

8,541

$

168,369 $

174,364 $

(5,995)

$

236,002 $

234,104 $

1,899

$

3,338,446 $

3,233,472 $

104,974

5.5% -10.9% 40.1%
1.4%
2.2% 7.7% -0.5% 491.3%
-30.6% 14.8% -3.4%
0.8%
3.2%

$

30,618 $

30,720 $

(102)

$

36,713 $

32,124 $

4,589

$

3,405,777 $

3,296,316 $

109,461

-0.3% 14.3%
3.3%

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.