Peach Tree Times

The State of Georgia reported a decline in net tax collections for September, totaling approximately $3.21 billion. This marks a decrease of $91.2 million, or 2.8%, compared to the same month in fiscal year 2024 when collections were nearly $3.3 billion. Despite this monthly drop, year-to-date net tax revenue collections reached about $8.11 billion, showing an increase of $29.5 million, or 0.4%, over September 2023's figure of roughly $8.08 billion.

In the breakdown of categories contributing to September's overall decline, Individual Income Tax collections rose to nearly $1.44 billion from almost $1.39 billion in FY 2024, reflecting an increase of $50.2 million or 3.6%. Key factors included a decrease in Individual Income Tax refunds by $35.4 million or 27.9%, and an increase in Estimated payments by $19.5 million or 12%. However, Income Tax Withholding payments fell by $4.1 million or 0.3%.

Sales and Use Tax showed gross collections at approximately $1.55 billion, up by $36 million or 2.4% from FY 2024 figures, but net Sales and Use Tax dropped by $52.5 million or 6.4% compared to September 2023's total of $820.2 million.

Corporate Income Tax saw a significant decrease with collections down nearly $90 million or 13.1% from last year's total of $687.5 million.

Motor Fuel Taxes increased by $6.7 million or 3.5% compared to FY 2024's collection of $193.4 million.

Motor Vehicle Tag & Title Fee collections experienced a slight rise of $0.2 million or 0.7%, while Title ad Valorem Tax (TAVT) decreased by $2.6 million or 3.2% from FY 2024.