Quantcast

Peach Tree Times

Sunday, November 24, 2024

Georgia's individual income tax revenue down 25.4% as of Q2 2023 compared to Q2 2022

Webp 82fffc82k1ur4t65yg7r4w5ph6jp

Frank O’Connell Commissioner of Revenue at Georgia Department of Revenue | Georgia Department of Revenue

Frank O’Connell Commissioner of Revenue at Georgia Department of Revenue | Georgia Department of Revenue

Georgia collected $4.7 billion in individual income taxes during the second quarter of 2023, a 25.4% decrease from the same period in the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In the second quarter of 2022, $6.3 billion was collected in individual income taxes.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by state governments.

Overall, Georgia collected $9.4 billion in combined tax revenues in the second quarter of 2023.

Q2 2023 Georgia Tax Collections

Type of TaxAmount (in millions of dollars)
Property Taxes$221
Sales and Gross Receipts Taxes$3,077
License Taxes$133
Individual Income Taxes$4,698
Total Income Taxes$5,961
Other Taxes$53

Source: U.S. Census Bureau

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS