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Georgia: November Tax Revenues Up 1.5%, Adjusted Year-to-Date Revenues Down 1.7%

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Atlanta, GA ~ In November, the State of Georgia saw an increase in net tax collections totaling $2.32 billion, a 1.5 percent increase from the same month in 2022. Year-to-date net tax revenues total $13.02 billion, a 3.3 percent increase over the same five-month period last year, driven primarily by the collection of the state motor fuel tax that was suspended during much of the same period in 2022. Net of motor fuel tax changes, revenues for the five months ended November 30 were down 1.7 percent from this time a year ago.

Individual Income Tax collections for November totaled nearly $1.29 billion, up from a total of $1.28 billion in fiscal year 2023, for an increase of $6.8 million or 0.5 percent. This net increase was due to Individual Income Tax refunds issued (net of voided checks) increasing by $25.5 million or 46.6 percent; Income Tax Withholding payments increasing by $50.7 million or 4.1 percent over November FY 2023; and all other Individual Tax categories decreasing by a combined $12.5 million from FY 2023.

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Gross Sales and Use Tax collections for November approached $1.51 billion, for an increase of $25.4 million or 1.7 percent over FY 2023 with net Sales and Use Tax increasing by $11 million or 1.5 percent compared to FY 2023 when net Sales Tax totaled $735.9 million; adjusted Sales Tax distribution to local governments totaled $751.9 million for an increase of $12

Filed Under: Government, State

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