Press release, 2018 March 9

For immediate release March 9, 2018

Office of Communications (404) 651-7774

Deal: February tax revenues up 4.8 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for February totaled $1.23 billion, for an increase of nearly $55.9 million, or 4.8 percent, compared to last year when net tax collections totaled almost $1.18 billion. Year-to-date, net tax collections totaled $15.1 billion, for an increase of roughly $868.8 million, or 6.1 percent, over February 2017, when net tax revenues totaled $14.23 billion.
The changes within the following tax categories contributed to the overall net tax revenue increase in February:
Individual Income Tax: Individual Income Tax collections for the month totaled $476.5 million, up from $451.9 million in February 2017, for an increase of $24.6 million, or 5.4 percent.
The following notable components within Individual Income Tax combine for the net increase: Individual Income Tax refunds issued (net of voided checks) were up $43.5 million, or 8.1 percent. Individual Withholding payments were up approximately $54.2 million, or 5.8 percent.

Individual Income Tax Return payments were up $16 million, or 142.2 percent. All other Individual Tax categories, including Estimated Return payments, were down a
combined $2.1 million.
Sales and Use Tax: Gross Sales and Use Tax collections deposited during the month totaled nearly $899.7 million, for an increase of $87.7 million, or 10.8 percent, over last year. Net Sales and Use Tax revenue totaled $459.5 million, for an increase of $38.6 million, or 9.2 percent, compared to February 2017, when net sales tax totaled almost $420.9 million. The adjusted distribution of sales tax to local governments totaled $434.3 million, for an increase of $49.6 million, or 12.9 percent, over last year. Finally, sales tax refunds decreased by roughly $0.6 million, or -8.6 percent, compared to last year.
Corporate Income Tax: Corporate Income Tax collections and refunds for February combined for a net decrease of roughly $5.6 million, or -23.8 percent, compared to the previous fiscal year when net Corporate Tax refund outlays outstripped revenue collections by a total of $23.3 million.
The following components within Corporate Income Tax make up the net decrease: Corporate Income Tax refunds issued (net of voids) were up $12.7 million, or 28.3
percent. Corporate Income Tax Estimated payments were up $1.1 million, or 7.3 percent. All other Corporate Tax categories, including Corporate Return payments, were up a
combined $6 million.
Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled almost $142.8 million, for an increase of $4.1 million, or 3 percent, compared to February 2017.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for February increased by less than $0.4 million, or 1 percent, compared to last year. Title

Ad Valorem Tax (TAVT) collections increased by roughly $1.4 million, or 1.7 percent, compared to February 2017, when TAVT collections totaled $82.2 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

February 2018

February 2017

$ Change

$

476,535 $

451,921 $

24,614

$

(28,904) $

(23,348) $

(5,556)

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

899,651 $ (434,301) $
(5,884) $ 459,466 $

811,970 $ (384,668) $
(6,440) $ 420,862 $

87,681 (49,633)
556 38,604

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

$

142,766 $

138,668 $

4,098

$

17,594 $

16,960 $

634

$

13,873 $

13,376 $

497

$

16 $

48 $

(32)

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

$

3,738 $

2,022 $

1,716

$

36,954 $

36,598 $

356

$

83,529 $

82,166 $

1,363

$

124,221 $

120,785 $

3,436

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,205,567 $
12,965 $ 12,859 $

1,139,272 $

66,295

12,967 $ 23,299 $

(2) (10,440)

Total State General Fund Receipts

$

1,231,391 $

1,175,538 $

55,853

% Change
5.4% -23.8%
10.8% -12.9%
8.6% 9.2% 3.0% 3.7% 3.7% -67.4%
84.9% 1.0% 1.7% 2.8%
5.8%
-0.02% -44.8%
4.8%

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

$

7,973,277

$

460,329

FY 2017

$

7,286,946

$

419,439

$ Change % Change

$

686,330

$

40,889

9.4% 9.7%

$

7,660,471 $

7,182,947 $

477,524

$

(3,674,680) $

(3,318,257) $ (356,423)

$

(44,243) $

(62,563) $

18,320

$

3,941,548 $

3,802,128 $

139,421

$

1,193,698 $

1,165,997 $

27,701

$

150,249 $

149,236 $

1,013

$

130,445 $

129,556 $

889

$

1,352 $

1,296 $

55

$

9,541 $

8,752 $

790

$

257,375 $

244,653 $

12,722

$

627,800 $

671,978 $

(44,179)

$

894,716 $

925,384 $

(30,667)

$

14,745,614 $

13,879,983 $ 865,630

6.6% -10.7% 29.3%
3.7%
2.4% 0.7% 0.7% 4.3%
9.0% 5.2% -6.6% -3.3%
6.2%

$

114,191 $

112,390 $

1,802

$

241,750 $

240,431 $

1,320

$

15,101,555 $

14,232,803 $ 868,752

1.6% 0.5%
6.1%

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.