ATLANTA — According to a release from the office of Gov. Brian Kemp, Georgia's net tax collections for the month of August decreased by $50.3 million for a total of $1.75 billion, as compared to August 2018, when net tax collections totaled just over $1.8 billion.
Individual income tax for the month was down by 6.3 percent year-over-year, with collections of $880.1 million.
Gross sales and use tax collections for the month were up by $62 million, or 6.1 percent in August, from roughly $1.02 billion during Fiscal Year 2019. Net sales and use tax for the month totaled $535.6 million, increasing $17.6 million as compared to a year ago.
Corporate income tax collections for the month totaled about $5.3 million, which was a decrease of $12.7 million or 70.8 percent as compared to a year ago when net corporate tax revenue totaled nearly $18 million. Corporate tax refunds issued increased by $3.5 million, or 21 percent. Corporate income tax return payments were down by about $10 million.
Motor fuel tax collections for the month were up by $2.4 million over August 2018, when motor fuel tax collections totaled about $153 million. Tax, tag and title fees for motor vehicles were down nearly $200,000 over August 2018. Ad Valorem Tax collections totaled $71.5 million.
Overall, the state says the year-to-date net tax collections have totaled nearly $3.59 billion for an increase of $5.4 million, or about 0.2 percent as compared to this point in Fiscal Year 2019 after the first two months. Georgia's Fiscal Year 2020 began on July 1, 2019.
MORE HEADLINES |