Georgia November Net Tax Revenues Down 0.1% https://madmimi.com/p/031c251?pact=842623-170814685-1155446486... Like Tweet Pin +1 in 1 of 4 For Immediate Release Friday, December 9, 2022 Georgia November Net Tax Revenues Down 0.1% Atlanta, GA The State of Georgia's net tax collections in November totaled almost $2.29 billion for a decrease of $2.4 million, or -0.1 percent, compared to November 2021 when net tax collections totaled just over $2.29 billion. Year-to-date, net tax revenue collections totaled $12.61 billion for an increase of $741.7 million, or 6.2 percent, over FY 2022. The changes within the following tax categories account for November's overall net tax revenue decrease: Individual Income Tax: Individual Income Tax collections for November totaled $1.28 billion, an increase of $55.8 million - or 4.6 percent - over FY 2022 when net Individual Tax revenues totaled roughly $1.22 billion. The following notable components within Individual Income Tax combine for the net increase: Individual Income Tax refunds issued (net of voided checks) decreased by $16.5 million or -23.2 percent Individual Withholding payments increased by $33.5 million, or 2.8 percent, compared to FY 2022 Individual Income Tax Return payments were up $17.7 million, or 78.9 percent, over last year All other Individual Tax categories, including Estimated Tax payments, were down a combined $11.9 million Sales and Use Tax: Gross Sales and Use Tax collections for the month increased by $153.1 million, or 11.5 percent, to a total of $1.48 billion compared to a total of nearly $1.33 billion in FY 2022. Net Sales and Use Tax increased by $65.6 million, or 9.8 percent, compared to November 2021 when net Sales Tax revenue totaled $670.3 million. Lastly, the adjusted Sales Tax distribution to local governments totaled $739.6 million for an increase of $85.4 million, or 13.1 percent, compared to last year. 12/12/2022, 9:05 AM Georgia November Net Tax Revenues Down 0.1% https://madmimi.com/p/031c251?pact=842623-170814685-1155446486... Corporate Income Tax: Net Corporate Income Tax collections increased by $39.5 million, or 358.1 percent, from last year when Corporate Tax revenues and refunds combined for a net total of -$11 million. The following notable components within Corporate Income Tax make up the net increase: Corporate Tax refunds issued (net of voided checks) decreased by $34.6 million or -67.3 percent Corporate Income Tax Estimated payments were down $2.3 million, or -6.6 percent, from last year All other Corporate Tax payments, including Corporate Return payments, were up a combined $7.2 million Motor Fuel Taxes: Motor Fuel Tax collections for November decreased by $172.5 million, or -99.4 percent, compared to last year's total of $173.5 million, as a result of Governor Kemp's Executive Orders to extend the suspension of the Motor Fuel Excise Tax. Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for the month increased by $1.7 million, or 6.7 percent, compared to November 2021 when Motor Vehicle fees totaled $26 million, while Title ad Valorem Tax (TAVT) collections increased by roughly $5.2 million, or 8.5 percent, compared to a total of $60.8 million last year. 2 of 4 12/12/2022, 9:05 AM Georgia November Net Tax Revenues Down 0.1% https://madmimi.com/p/031c251?pact=842623-170814685-1155446486... 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 12/12/2022, 9:05 AM Georgia November Net Tax Revenues Down 0.1% https://madmimi.com/p/031c251?pact=842623-170814685-1155446486... 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 12/12/2022, 9:05 AM