Press release, 2018 June 6

For immediate release June 6, 2018

Office of Communications (404) 651-7774

Deal: May tax revenues up 1.8 percent

Gov. Nathan Deal today announced that Georgia's net tax collections for May totaled almost $1.76 billion, for an increase of $31.5 million, or 1.8 percent, compared to last year when net tax collections totaled nearly $1.73 billion. Year-to-date, net tax collections totaled $20.73 billion, for an increase of $940.8 million, or 4.8 percent, compared to May 2017, when net tax revenues totaled roughly $19.79 billion.

The changes within the following tax categories contributed to the overall net tax revenue increase in May:

Individual Income Tax: Individual Income Tax collections for May increased by $12.4 million, or 1.4 percent, compared to last year when Income Tax collections totaled $871.4 million.

The following notable components within Individual Income Tax combine for the net increase:
Individual Income Tax refunds issued (net of voided checks) were up $26 million, or 17.6 percent.
Individual Withholding payments were up $43.3 million, or 4.7 percent.
Individual Income Tax Return payments were down roughly $7.9 million, or -18.7 percent.

All other Individual Tax categories, including Non-Resident Return payments, were up a combined $3 million.
Sales and Use Tax: Gross Sales and Use Tax collections totaled almost $975.8 million, for an increase of $65.5 million, or 7.2 percent, over last year. Net Sales and Use Tax increased by nearly $15.6 million, or 3.3 percent, compared to May 2017, when net sales tax totaled $479.1 million. The adjusted distribution of sales tax to local governments totaled $473.1 million, for an increase of $46.1 million, or 10.8 percent, over last year. Finally, sales tax refunds increased by roughly $3.8 million, or 90.7 percent, to a total of $8.1 million.
Corporate Income Tax: Corporate Income Tax collections for May increased by $5.3 million, or 15.8 percent, compared to last year when Corporate Tax collections totaled $33.4 million.
The following notable components within Corporate Income Tax make up the net increase: Corporate Income Tax refunds issued (net of voided checks) were down $10.7 million, or -
43.2 percent. Corporate Income Tax payments were down $3.7 million, or -23.5 percent. All other Corporate Tax categories, including S-Corp payments, were down approximately
$1.7 million.
Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled almost $151.7 million, for an increase of $4.9 million, or 3.3 percent, compared to May 2017.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month totaled $32.1 million, for an increase of $2.4 million, or 8.2 percent, over last year. Title Ad Valorem Tax (TAVT) collections decreased by nearly $1.9 million, or -2.4 percent, compared to May 2017, when TAVT collections totaled $75.9 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

May 2018

May 2017

$

883,802 $

871,425

$

38,698 $

33,408

$ Change

$

12,377

$

5,290

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

975,843 $ (473,092) $
(8,102) $ 494,648 $

910,344 $ (427,035) $
(4,249) $ 479,060 $

65,499 (46,058)
(3,853) 15,588

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

$

151,675 $

146,806 $

4,869

$

17,598 $

17,553 $

45

$

15,730 $

15,105 $

625

$

40 $

24 $

16

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

$

737 $

1,200 $

(463)

$

32,108 $

29,674 $

2,434

$

74,074 $

75,934 $

(1,860)

$

106,919 $

106,808 $

111

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,709,112 $
15,548 $ 33,399 $

1,670,190 $
15,101 $ 41,276 $

38,922
447 (7,877)

Total State General Fund Receipts

$

1,758,059 $

1,726,567 $

31,492

% Change
1.4% 15.8%
7.2% -10.8% -90.7%
3.3% 3.3% 0.3% 4.1% 67.1%
-38.6% 8.2% -2.4% 0.1%
2.3%
3.0% -19.1%
1.8%

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

$

10,695,999

$

821,606

FY 2017

$

10,019,501

$

778,627

$ Change % Change

$

676,498

$

42,979

6.8% 5.5%

$

10,552,790 $

9,889,061 $

663,729

$

(5,054,453) $

(4,552,814) $ (501,638)

$

(67,059) $

(89,198) $

22,139

$

5,431,277 $

5,247,048 $

184,229

$

1,640,950 $

1,592,086 $

48,864

$

203,051 $

199,990 $

3,061

$

177,386 $

175,695 $

1,692

$

1,396 $

1,338 $

58

$

13,977 $

14,189 $

(213)

$

362,918 $

333,802 $

29,115

$

841,362 $

907,853 $

(66,491)

$

1,218,256 $

1,255,845 $

(37,589)

$

20,189,922 $

19,270,129 $ 919,793

6.7% -11.0% 24.8%
3.5%
3.1% 1.5% 1.0% 4.4%
-1.5% 8.7% -7.3% -3.0%
4.8%

$

159,247 $

156,690 $

2,557

$

379,180 $

360,755 $

18,425

$

20,728,349 $

19,787,575 $ 940,774

1.6% 5.1%
4.8%

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.