September Net Tax Revenue Up 0.7%
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For Immediate Release Tuesday October 8 2019
September Net Tax Revenue Up 0.7%
Atlanta GA The State of Georgia s net tax collections in September totaled roughly $2.25 billion for an increase of $15.7 million or 0.7 percent compared to last year when net tax collections totaled $2.23 billion. Year-to-date net tax revenue collections totaled $5.83 billion for an increase of $21.1 million or 0.4 percent compared to September Fiscal Year (FY) 2019.
Changes in the following tax categories account for September s overall net tax revenue increase
Individual Income Tax Individual Income Tax collections during September totaled $1.13 billion for a decrease of $27.4 million or -2.4 percent compared to last year when net Individual Tax revenues approached $1.16 billion.
The following components within Individual Income Tax combine for the net decrease
Individual Income Tax refunds issued (net of voided checks) increased by $36.1 million or 59.1 percent.
Individual Withholding payments increased by $1.9 million or 0.2 percent compared to last year.
Individual Income Tax Return payments were up $8.6 million or 53.8 percent over last year.
All other Individual Tax categories including Estimated Tax payments were down a combined $1.8 million.
Sales and Use Tax Gross Sales and Use Tax collections increased by $39.2 million or 3.9 percent over last year to a total of roughly $1.05 billion for the month. Net Sales and Use Tax decreased by nearly $5.3 million or -1 percent compared to FY 2019 when net Sales Tax revenue totaled $514.1 million. The adjusted Sales Tax distribution to local governments totaled $528.3 million for an increase of roughly $34.2 million or 6.9 percent over last fiscal year. Lastly Sales Tax refunds increased by nearly $10.4 million or 163.8 percent compared to September 2018.
10/14/2019 8 37 AM
September Net Tax Revenue Up 0.7%
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10/14/2019 8 37 AM