Gov. Kemp: September Net Tax Revenues Up 9.9%

https://madmimi.com/p/eef9c41?pact=764951-169854858-1155446486...

Like Tweet Pin +1 in

1 of 4

For Immediate Release Friday, October 7, 2022
Gov. Kemp: September Net Tax Revenues Up 9.9%
Atlanta, GA Governor Brian P. Kemp today announced that Georgia's September net tax collections totaled almost $3.1 billion for an increase of $279.2 million, or 9.9 percent, compared to FY 2022 when net tax collections approached $2.82 billion. Year-to-date, net tax revenue collections totaled roughly $7.62 billion for an increase of $513.8 million, or 7.2 percent, through the end of this quarter.
The changes within the following tax categories account for September's overall net tax revenue increase:
Individual Income Tax: Individual Income Tax collections for September totaled $1.55 billion, for an increase of $130.2 million, or 9.2 percent, compared to FY 2022 when net Individual Tax revenues totaled $1.42 billion.
The following notable components within Individual Income Tax combine for the net increase:
Individual Tax refunds issued (net of voided checks) increased by $1.5 million, or 2.1 percent, over last year Individual Withholding payments increased by $57.7 million, or 5.3 percent, compared to September 2021 Individual Income Tax Return payments increased by $31.3 million, or 48.5 percent, over FY 2022 All other Individual Tax categories, including Estimated Tax payments, were up a combined $42.7 million
Sales and Use Tax: Gross Sales and Use Tax collections totaled $1.48 billion in September, for an increase of $184.9 million, or 14.3 percent, over last year. Net Sales and Use Tax increased by $95.4 million, or 14.6 percent, compared to FY 2022, when net Sales Tax revenue totaled $653.8 million. The adjusted Sales Tax distribution to local
10/10/2022, 9:14 AM

Gov. Kemp: September Net Tax Revenues Up 9.9%

https://madmimi.com/p/eef9c41?pact=764951-169854858-1155446486...

governments totaled $724.8 million, for an increase of $86.3 million, or 13.5 percent, over FY 2022. Lastly, Sales Tax refunds increased by $3.2 million, or 84.2 percent, compared to last year.
Corporate Income Tax: Net Corporate Income Tax collections totaled $603.9 million for the month, for an increase of $205.5 million, or 51.6 percent, over last year when net Corporate Tax revenues totaled $398.4 million.
The following notable components within Corporate Income Tax make up the net increase:
Corporate Tax refunds issued (net of voided checks) were down $3.5 million, or -14 percent, from last year Corporate Income Tax Estimated payments were up $118.3 million, or 32.1 percent, over FY 2022 Corporate Income Tax Return payments increased by $39 million, or 107.4 percent, over last year All other Corporate Tax payments, including S-Corp payments, combined for an increase of $44.7 million
Motor Fuel Taxes: Motor Fuel Tax collections for September decreased by $180.8 million, or -103.7 percent, compared to FY 2022, as a result of Governor Kemp's Executive Orders to extend the suspension of the Motor Fuel Excise Tax to provide Georgians relief at the pump as they face 40-year high inflation. Since the state tax on motor fuel was first suspended in March of this year, Georgians have saved approximately $800 million at the pump.
Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fee collections increased by $0.4 million, or 1.3 percent, compared to September 2021 when Motor Vehicle fees totaled $30.9 million, while Title ad Valorem Tax (TAVT) collections were up $7.2 million, or 10.6 percent, compared to last year's total of $67.7 million.

2 of 4

10/10/2022, 9:14 AM

Gov. Kemp: September Net Tax Revenues Up 9.9%

https://madmimi.com/p/eef9c41?pact=764951-169854858-1155446486...

3 of 4

Press Contacts
Andrew Isenhour - Interim Director of Communications Office of Governor Brian P. Kemp andrew.isenhour@georgia.gov
Carter Chapman - Communications Specialist Office of Governor Brian P. Kemp carter.chapman@georgia.gov

10/10/2022, 9:14 AM

Gov. Kemp: September Net Tax Revenues Up 9.9%

https://madmimi.com/p/eef9c41?pact=764951-169854858-1155446486...

2022 Office of Georgia Governor Brian P. Kemp | Georgia State Capitol
Web Version Preferences Forward Unsubscribe
Powered by Mad Mimi A GoDaddy company

4 of 4

10/10/2022, 9:14 AM