Press release, 2018 July 9

For immediate release July 9, 2018

Office of Communications (404) 651-7774

Deal: June tax revenues up 1 percent
Net tax collections for the year up 4.4 percent compared to fiscal year 2017

Gov. Nathan Deal today announced that Georgia's net tax collections for June totaled $1.98 billion, for an increase of $20.5 million, or 1 percent, compared to last year when net tax collections totaled nearly $1.96 billion. Year-to-date, net tax collections totaled roughly $22.71 billion, for an increase of $961.3 million, or 4.4 percent, compared to June 2017, when net tax revenues totaled almost $21.75 billion.

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

Individual Income Tax: Individual Income Tax collections for June decreased by $10.4 million, or -1.1 percent, compared to last year when Income Tax collections totaled $958.2 million.

The following notable components within Individual Income Tax combine for the net decrease: Individual Income Tax refunds issued (net of voided checks) were up $41 million, or 29.4 percent. Individual Withholding payments were up $24.6 million, or 2.9 percent. Individual Income Tax Estimated payments were up $11 million, or 6.9 percent. All other Individual Tax categories, including Non-Resident Return payments, were down a combined $5 million.
Sales and Use Tax: Gross Sales and Use Tax collections totaled $992.5 million, for an increase of $61.3 million, or 6.6 percent, over last year. Net Sales and Use Tax increased by nearly $24.3 million, or 5 percent, compared to June 2017, when net sales tax totaled $483 million. The adjusted distribution of sales tax to local governments totaled $483.4 million, for an increase of $40.8 million, or 9.2 percent, over last year. Finally, sales tax refunds decreased by roughly $3.7 million, or 66.8 percent.
Corporate Income Tax: Corporate Income Tax collections for June decreased by $10.6 million, or -5.5 percent, compared to last year when Corporate Tax collections totaled $193.3 million.
The following notable components within Corporate Income Tax make up the net decrease: Corporate Income Tax refunds issued (net of voided checks) were up $23.2 million, or 266.7 percent. Corporate Income Tax payments were up $7.8 million, or 62.1 percent.

All other Corporate Tax categories, including Corporate Estimated payments, were up roughly $4.8 million.
Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled nearly $160.8 million, for an increase of $11.9 million, or 8 percent, compared to June 2017.
Motor Vehicle Tag & Title Fees: Motor Vehicle Tag & Title Fees for the month totaled $32.2 million, for an increase of almost $1.8 million, or 5.8 percent, over last year. Title Ad Valorem Tax (TAVT) collections increased by roughly $2.9 million, or 4 percent, compared to June 2017, when TAVT collections totaled $71.6 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

June 2018

June 2017

$

947,782 $

958,191

$

182,691 $

193,271

$ Change

$

(10,409)

$

(10,580)

Sales and Use Tax - General:

Sales and Use Tax - Gross (Note 2b)

$

Local Distribution (Note 1)

$

Adjustments \ Refunds

$

Net Sales and Use Tax - General

$

992,472 $ (483,359) $
(1,857) $ 507,255 $

931,158 $ (442,562) $
(5,599) $ 482,997 $

61,314 (40,797)
3,741 24,259

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

$

160,763 $

148,878 $

11,885

$

21,860 $

20,784 $

1,076

$

18,310 $

17,743 $

566

$

165 $

61 $

104

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

$

861 $

879 $

(18)

$

32,222 $

30,452 $

1,770

$

74,493 $

71,642 $

2,852

$

107,576 $

102,972 $

4,604

Total Net Taxes - Subtotal

$

Interest, Fees and Sales:

Hotel \ Motel Fees

$

Other Interest, Fees & Sales (Note 3)

$

1,946,403 $
15,208 $ 16,464 $

1,924,897 $
15,174 $ 17,459 $

21,506
33 (994)

Total State General Fund Receipts

$

1,978,075 $

1,957,530 $

20,545

% Change
-1.1% -5.5%
6.6% -9.2% 66.8% 5.0% 8.0% 5.2% 3.2% 170.8%
-2.0% 5.8% 4.0% 4.5%
1.1%
0.2% -5.7%
1.0%

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

$

11,643,781

$

1,004,298

FY 2017

$

10,977,693

$

971,898

$ Change % Change

$ 666,089

$

32,400

6.1% 3.3%

$

11,545,262 $

10,820,218 $

725,044

$

(5,537,812) $

(4,995,377) $ (542,436)

$

(68,917) $

(94,797) $

25,880

$

5,938,533 $

5,730,045 $

208,488

$

1,801,713 $

1,740,963 $

60,749

$

224,910 $

220,774 $

4,137

$

195,696 $

193,438 $

2,258

$

1,562 $

1,399 $

163

$

14,838 $

15,068 $

(230)

$

395,140 $

364,255 $

30,885

$

915,855 $

979,494 $

(63,640)

$

1,325,832 $

1,358,817 $

(32,985)

$

22,136,325 $

21,195,026 $

941,298

6.7% -10.9% 27.3%
3.6%
3.5% 1.9% 1.2% 11.6%
-1.5% 8.5% -6.5% -2.4%
4.4%

$

174,454 $

171,864 $

2,590

$

395,644 $

378,214 $

17,430

$

22,706,424 $

21,745,105 $

961,319

1.5% 4.6%
4.4%

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.