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Wednesday, November 27, 2024

Georgia's license tax revenue up 16% in Q1 compared to previous quarter

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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 $174 million in license taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents a 16% increase over the previous quarter, when license tax revenue was $150 million.

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 it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Georgia collected $7.6 billion in combined tax revenues in Q1.

Q1 Georgia Tax Collections

Type of TaxAmount (millions)
Income Taxes$4,132
License Taxes$174
Other Taxes$45
Property Taxes$212
Sales and Gross Receipts Taxes$3,010

Source: U.S. Census Bureau

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