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.