Press release, 2018 April 6

For immediate release April 6, 2018

Office of Communications (404) 651-7774

Deal: March tax revenues down -0.5 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for March totaled nearly $1.56 billion, for a decrease of $8.2 million, or -0.5 percent, compared to last year when net tax collections totaled almost $1.57 billion. Year-to-date, net tax collections totaled $16.66 billion, for an increase of $860.6 million, or 5.4 percent, compared to March 2017, when net tax revenues totaled $15.8 billion nine months into the fiscal year.

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

Individual Income Tax: Individual Income Tax collections for March totaled $709.8 million, for a decrease of $23.8 million, or -3.2 percent, compared to last year when Income Tax collections totaled almost $733.7 million.

The following notable components within Individual Income Tax combine for the net decrease:
Individual Income Tax refunds issued (net of voided checks) were down $2 million, or -0.3 percent.
Individual Withholding payments were down $5.5 million, or -0.5 percent.
Individual Income Tax Return payments were up roughly $6.2 million, or 12.5 percent.

All other Individual Tax categories, including Non-Resident tax payments, were down a combined $26.5 million.
Sales and Use Tax: Gross Sales and Use Tax collections totaled $887.2 million, an increase of $61.1 million, or 7.4 percent, over last year. Net Sales and Use Tax totaled almost $451 million, for an increase of $15.8 million, or 3.6 percent, over March 2017. The adjusted distribution of sales tax to local governments totaled $425.2 million, for an increase of nearly $44 million, or 11.5 percent, over last year. Finally, sales tax refunds increased by $1.3 million, or 13.5 percent, to a total of $11 million.
Corporate Income Tax: Corporate Income Tax collections for March decreased by roughly $15.5 million, or -16 percent, compared to March 2017, when Corporate Tax collections totaled $96.9 million.
The following notable components within Corporate Income Tax make up the net decrease: Corporate Income Tax refunds issued (net of voided checks) were down $20.7 million, or -57.5
percent. Corporate Income Tax payments were down approximately $14.6 million, or -31 percent. All other Corporate Tax categories, including Corporate Estimated payments, were down $21.6
million.
Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled $136.5 million, for an increase of nearly $4.7 million, or 3.5 percent, compared to March 2017.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month totaled $37.9 million, for an increase of $6.3 million, or 20 percent, over last year. Title Ad Valorem Tax (TAVT) collections decreased by roughly $13.6 million, or -17.9 percent, compared to March 2017, when TAVT collections totaled nearly $76.3 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

March 2018

March 2017

$

709,835 $

733,675

$

81,355 $

96,894

$ Change

$

(23,841)

$

(15,539)

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

887,206 $ (425,199) $
(11,024) $ 450,983 $

826,073 $ (381,212) $
(9,709) $ 435,151 $

61,133 (43,986)
(1,314) 15,832

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

$

136,518 $

131,860 $

4,658

$

16,043 $

15,373 $

669

$

14,131 $

14,482 $

(351)

$

(5) $

(8) $

3

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

$

2,249 $

2,850 $

(601)

$

37,922 $

31,606 $

6,317

$

62,611 $

76,260 $

(13,649)

$

102,782 $

110,716 $

(7,934)

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,511,642 $
13,160 $ 33,509 $

1,538,144 $

(26,503)

13,080 $ 15,248 $

81 18,261

Total State General Fund Receipts

$

1,558,311 $

1,566,472 $

(8,161)

% Change
-3.2% -16.0%
7.4% -11.5% -13.5%
3.6% 3.5% 4.4% -2.4% 37.8%
-21.1% 20.0% -17.9% -7.2%
-1.7%
0.6% 119.8%
-0.5%

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

$

8,683,111

$

541,684

FY 2017

$

8,020,621

$

516,334

$ Change % Change

$

662,490

$

25,350

8.3% 4.9%

$

8,547,676 $

8,009,020 $

538,657

$

(4,099,879) $

(3,699,469) $ (400,410)

$

(55,266) $

(72,272) $

17,006

$

4,392,531 $

4,237,278 $

155,253

$

1,330,216 $

1,297,858 $

32,358

$

166,292 $

164,610 $

1,682

$

144,576 $

144,038 $

538

$

1,347 $

1,289 $

58

$

11,791 $

11,602 $

188

$

295,297 $

276,259 $

19,038

$

690,411 $

748,239 $

(57,828)

$

997,498 $

1,036,100 $

(38,601)

$

16,257,255 $

15,418,127 $ 839,128

6.7% -10.8% 23.5%
3.7%
2.5% 1.0% 0.4% 4.5%
1.6% 6.9% -7.7% -3.7%
5.4%

$

127,351 $

125,469 $

1,882

$

275,259 $

255,678 $

19,581

$

16,659,866 $

15,799,275 $ 860,591

1.5% 7.7%
5.4%

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.