State tax collections up sharply

ATLANTA — Georgia’s April net tax collections totaled $2.87 billion for an increase of $559.7 million, or 24.2% compared to April 2018 when net tax collections totaled $2.31 billion, according to information released by Gov. Brian Kemp’s office Monday.

Year-to-date, net tax collections totaled $19.91 billion for an increase of almost $939.7 million, or 5%, compared to the previous fiscal year when net tax revenues totaled $18.97 billion.

Changes in the following tax categories explain April’s net tax revenue increase:

Individual Income Tax: Individual Income Tax collections totaled more than $1.58 billion for an increase of $454.6 million, or 40.3%, compared to last year when Income Tax collections totaled nearly $1.13 billion.

♦ These components within Individual Income Tax combine for the net increase:

♦ Individual Income Tax refunds issued (net of voided checks) declined by $40 million, or -6.5%.

♦ Individual Income Tax Return payments increased by $307.2 million, or 48.9%, compared to last year.

♦ Individual Withholding payments for the month were up $70.7 million, or 7.9%.

♦ All other categories, including non-resident income tax payments, increased a combined $36.7 million.

Sales and Use Tax: Gross Sales and Use Tax collections totaled slightly more than $1.1 billion in April, which was an increase of $73.5 million, or 7.1%, over April 2018. Net Sales and Use Tax increased by roughly $30.5 million, or 5.6%, over last fiscal year when net sales tax totaled $544.1 million. The adjusted Sales Tax distribution to local governments totaled $524.8 million for an increase of $43.3 million, or 9%, over last year. Lastly, Sales Tax Refunds declined by roughly $0.3 million, or -7.1%, compared to FY 2018.

Corporate Income Tax: Corporate Income Tax collections totaled $310.4 million for an increase of $69.2 million, or 28.7%, over last year when corporate tax collections totaled $241.2 million.

These components within Corporate Income Tax comprise the net increase:

♦ Corporate Income Tax refunds (net of voids) increased by $1.1 million, or 5.4%over last year.

♦ Corporate Income Tax Estimated payments received were up $57.9 million, or 43.8%.

♦ Corporate Income Tax Return payments increased by $7.7 million, or 6.5%.

♦ All other Corporate Tax types, including S-Corp tax payments, were up a combined $4.7 million.

Motor Fuel Taxes:♦ Motor Fuel Tax collections fell nearly $1.2 million, or -0.7%, compared to FY 2018.

Motor Vehicle: Tag & Title Fees: Motor Vehicle Tag & Title Fees increased by $2.2 million, or 6.1%, in April while Title Ad Valorem Tax collections declined by $2.7 million, or -3.6%, compared to FY 2018.

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