The State of Georgia’s net tax collections for April 2025 amounted to approximately $3.73 billion, reflecting a decrease of $230.4 million or 5.8% compared to the previous fiscal year when collections were $3.96 billion. The decline in individual and corporate income tax collections was influenced by an extension of filing and payment deadlines due to a hurricane, which pushed these deadlines to May 1, 2025. Early May payments from individuals and corporations have surpassed those from the same period in May 2024, suggesting many taxpayers utilized the extended deadline.
Year-to-date net tax revenue reached $27.77 billion, marking an increase of $312.2 million primarily driven by motor fuel excise tax collections that were suspended for two and a half months during FY 2024 under an Executive Order. When adjusted for changes in motor fuel taxes year-over-year, net tax revenue collections through April showed a decline of $154.2 million or 0.6%.
In detail:
– Individual Income Tax collections totaled $1.91 billion, down by $55.9 million or 2.8% from last year’s nearly $1.97 billion.
Notable components include:
– A decrease in issued refunds (net of voided checks) by $115.1 million or 14.1%.
– Withholding payments fell by $35.9 million or 2.7%.
– Return payments declined by $102.3 million or 9.4%.
– Other categories like Estimated payments decreased by a combined total of $32.8 million.
– Sales and Use Tax saw gross collections reach almost $1.65 billion in April, increasing by $70.4 million or 4.5% over April 2024 figures.
Net Sales and Use Tax rose by $40.5 million or 5%, with local government distributions increasing by $33.8 million or 4%. Sales Tax refunds dropped by $3.9 million or nearly 26%.
– Corporate Income Tax collected amounted to approximately $540 million, decreasing roughly by $207 million or nearly 28% compared to FY 2024.
Components include:
– Refunds issued decreased slightly by about $5 million.
– Return payments fell significantly by around $84 million.
– Estimated payments reduced substantially by about $112 million.
– Other Corporate Tax types decreased collectively by about $16 million.
– Motor Fuel Taxes increased modestly with a rise of approximately six and a half-million dollars compared to FY 2024.
– Motor Vehicle Tag & Title Fees grew slightly over seven percent while Title Ad Valorem Tax (TAVT) collections increased close to five percent over the previous year.
