Press release, 2018 February 9

For immediate release Feb. 9, 2018

Office of Communications (404) 651-7774

Deal: January tax revenues up 16.7 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for January totaled nearly $2.57 billion, for an increase of $368.2 million, or 16.7 percent, compared to last year when net tax collections totaled $2.2 billion. Year-to-date, net tax collections totaled $13.87 billion, for an increase of $812.9 million, or 6.2 percent, over January 2017, when net tax revenues totaled roughly $13.06 billion.
The changes within the following tax categories contributed to the overall net tax revenue increase in January:
Individual Income Tax: Individual Income Tax collections for the month totaled $1.61 billion, up from approximately $1.27 billion in January 2017, for an increase of almost $342.3 million, or 27 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 $22.7 million, or -50.3 percent. Individual Withholding payments were up $98.1 million, or 9.7 percent. Individual Estimated Tax payments were up $199.1 million, or 81.2 percent.

All other Individual Tax categories, including Non-Resident Return payments, were up a combined $22.4 million.
Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month totaled nearly $1.13 billion, for an increase of roughly $66.7 million, or 6.3 percent, over last year. Net Sales and Use Tax revenue totaled $587.4 million, for an increase of $18.6 million, or 3.3 percent, compared to January 2017, when net sales tax totaled approximately $568.8 million. The adjusted distribution of sales tax to local governments totaled almost $537.9 million, for an increase of nearly $55.3 million, or 11.5 percent, over last year. Finally, sales tax refunds decreased by $7.2 million, or -62.7 percent, compared to last year.
Corporate Income Tax: Corporate Income Tax collections for January increased by $17.2 million, or 56 percent, compared to the previous fiscal year when net Corporate Tax collections totaled $30.7 million.
The following components within Corporate Income Tax make up the net increase: Corporate Income Tax refunds issued (net of voided checks) were up roughly $15.3 million, or
538.1 percent. Corporate Income Tax Return payments were up $19.3 million, or 426.5 percent. All other Corporate Tax categories, including Corporate Estimated payments, were up a
combined $13.2 million.
Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled $145.9 million, for an increase of approximately $1.4 million, or 0.9 percent, compared to January 2017.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for December decreased by $2.1 million, or -5.5 percent, compared to last year. Title Ad Valorem Tax (TAVT) collections totaled roughly $74.2 million, for a decrease of nearly $3.1 million, or 4.1 percent, compared to January 2017, when TAVT collections totaled $77.3 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

January 2018

January 2017

$

1,608,042 $

1,265,704

$

47,955 $

30,734

$ Change

$

342,338

$

17,220

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

1,128,803 $

1,062,124 $

66,679

Local Distribution (Note 1)

$

(537,880) $

(482,612) $

(55,267)

Adjustments \ Refunds

$

(3,518) $

(10,737) $

7,219

Net Sales and Use Tax - General

$

587,406 $

568,775 $

18,631

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

$

145,937 $

144,574 $

1,363

$

17,610 $

19,443 $

(1,832)

$

17,918 $

18,606 $

(689)

$

37 $

39 $

(2)

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

$

1,485 $

1,617 $

(132)

$

36,280 $

38,382 $

(2,102)

$

74,166 $

77,301 $

(3,135)

$

111,931 $

117,300 $

(5,369)

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

2,536,835 $
12,414 $ 19,328 $

2,165,176 $

371,659

11,826 $ 23,409 $

588 (4,081)

Total State General Fund Receipts

$

2,568,577 $

2,200,410 $

368,167

% Change
27.0% 56.0%
6.3% -11.5% 67.2%
3.3% 0.9% -9.4% -3.7% -5.5%
-8.2% -5.5% -4.1% -4.6%
17.2%
5.0% -17.4%
16.7%

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

$

7,496,741

$

489,233

FY 2017

$

6,835,025

$

442,788

$ Change % Change

$

661,717

$

46,445

9.7% 10.5%

$

6,760,820 $

6,370,977 $

389,843

$

(3,240,378) $

(2,933,588) $ (306,790)

$

(38,359) $

(56,123) $

17,764

$

3,482,082 $

3,381,266 $

100,816

$

1,050,932 $

1,027,329 $

23,603

$

132,655 $

132,276 $

379

$

116,571 $

116,180 $

392

$

1,336 $

1,249 $

87

$

5,803 $

6,730 $

(927)

$

220,421 $

208,056 $

12,365

$

544,271 $

589,813 $

(45,542)

$

770,495 $

804,599 $

(34,103)

$

13,540,047 $

12,740,711 $ 799,336

6.1% -10.5% 31.7%
3.0%
2.3% 0.3% 0.3% 7.0%
-13.8% 5.9% -7.7% -4.2%
6.3%

$

101,226 $

99,423 $

1,804

$

228,891 $

217,132 $

11,759

$

13,870,164 $

13,057,266 $ 812,899

1.8% 5.4%
6.2%

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.