Georgia’s net tax collections in December totaled $2.98 billion, for an increase of $582.9 million, or 24.3 percent, compared to December 2020 when net tax collections totaled $2.40 billion, state officials announced this month.
“Year-to-date, net tax revenue collections totaled $14.85 billion, for an increase of $2.28 billion, or 18.1 percent, over FY 2021 after six months,” according to Governor Brian Kemp’s office.
The changes within the following tax categories account for December’s overall net tax revenue increase:
• Individual Income Tax: Individual Income Tax collections for December increased by $297.1 million, or 23.9 percent, compared to December 2020 when net Individual Tax revenues totaled $1.24 billion.
• Sales and Use Tax:Gross Sales and Use Tax collections totaled $1.37 billion, for an increase of $243.4 million, or 21.6 percent, over last year’s total of nearly $1.13 billion. Net Sales and Use Tax for the month increased by roughly $120.2 million, or 20.9 percent, compared to last year, when net Sales Tax revenue totaled $574.5 million. The adjusted Sales Tax distribution to local governments totaled $670.4 million, for an increase of $120.9 million, or 22 percent, over FY 2021. Lastly, Sales Tax refunds increased by $2.2 million, or 48.2 percent compared to FY 2021.
• Corporate Income Tax: Net Corporate Income Tax collections increased by $125.5 million, or 44.7 percent, up from FY 2021 when net Corporate Tax revenues totaled $280.9 million in December.
• Motor Fuel Taxes: Motor Fuel Tax collections for the month increased by $17 million, or 11.4 percent, over last year’s December total of $149.1 million.
• Motor Vehicle – Tag and Title Fees: Motor Vehicle Tag & Title Fee collections for December increased by $2.1 million, or 6.5 percent, compared to FY 2021 when Motor Vehicle fees totaled $32.3 million. Title ad Valorem Tax (TAVT) collections increased by roughly $7 million, or 13.7 percent, compared to last year’s total of $51.2 million.
Georgia Department of Labor (GDOL) Commissioner Mark Butler announced last month that the state now employs the highest number of Georgians ever, surpassing the number of employed prior to the COVID-19 pandemic by more than 3,000.
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Chris Butler is an investigative journalist at The Tennessee Star and The Georgia Star News. Follow Chris on Facebook, Twitter, Parler, and GETTR. Email tips to [email protected].
Photo “Georgia State Capitol” by Autiger CC BY-SA 2.0.