ATLANTA ~ In the first month of Fiscal Year 2027, the State of Georgia saw a significant increase in net tax collections, totaling $2.57 billion. This marks a $78.1 million, or 3.1%, increase from July of last year (FY 2026) when net tax collections were approximately $2.49 billion.

The rise in net tax revenue can be attributed to changes within various tax categories. Individual Income Tax collections for the month decreased by $27.1 million, or 2.1%, from July of FY 2026, when it totaled nearly $1.27 billion.

This decrease can be broken down into several notable components, including a decrease of $29.4 million, or 28.9%, in individual income tax refunds issued (net of voided checks). Additionally, income tax withholding payments for July declined by $26.2 million, or 2.1%, compared to the same period last year.

Furthermore, individual income tax return payments saw a significant decrease of $35.1 million, or 49.2%, from FY 2026. However, all other individual income tax categories, including estimated payments, saw a combined increase of $4.7 million.

Gross sales and use tax collections also saw a substantial increase in July, totaling nearly $1.78 billion – an increase of $162.8 million or 10.1% over FY 2026. Net sales and use tax also increased by roughly $79.2 million or 10% compared to July of last year when it totaled $796.1 million.

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The adjusted sales tax distribution to local governments also saw an increase of $85.9 million over last year's figures while sales tax refunds fell by $2.3 million or 23/7%.

Corporate income tax collections for July totaled $72/2 million – an increase of $18.4 million or 34.3% over FY 2026 when net corporate tax revenues totaled $53.7 million.

The increase in corporate income tax collections can be attributed to a decrease of $9.1 million, or 31%, in corporate income tax refunds issued (net of voids). Additionally, corporate income tax estimated payments saw an increase of $17.1 million, or 38.9%, compared to July of last year.

Motor fuel tax collections for the month saw a decrease of roughly $10.6 million, or 5.4%, from July of FY 2026 when it totaled $194.5 million.

Lastly, motor vehicle tag and title fee collections for July declined by $2 million, or 5.4%, while title ad valorem tax (TAVT) collections increased by $3.6 million, or 4.9%, compared to the previous fiscal year.

Overall, the State of Georgia has seen a positive start to Fiscal Year 2027 with an increase in net tax collections across various categories compared to the same period last year. These numbers bode well for the state's financial health and future economic growth.

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