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Release Date: 03.12.2019 | Location: All Metro Atlanta | Organization: Governor Brian Kemp Office of Communications

February Net Tax Revenues Up 5.5 Percent

The State of Georgia’s net tax collections for February totaled almost $1.3 billion for an increase of $67.6 million - or 5.5 percent - compared to February 2018 when net tax collections totaled roughly $1.23 billion. Year-to-date, net tax collections totaled $15.37 billion for an increase of $270.5 million - or 1.8 percent - compared to the previous fiscal year when net tax revenues totaled $15.10 billion after eight months.

The changes within the following tax categories further explain February’s overall net tax revenue increase:

Individual Income Tax: Individual Income Tax collections totaled roughly $469.2 million, which was a decrease of $7.4 million - or -1.5 percent - compared to last year when Income Tax collections totaled $476.5 million.

The following notable components within Individual Income Tax combine for the net decrease:

Individual Income Tax refunds issued (net of voided checks) were down $24 million - or -4.1 percent.
Individual Withholding payments fell by $28.5 million - or -2.9 percent - compared to last year.
Individual Income Tax Return payments were down $14.5 million - or -53.1 percent.
All other Individual Tax categories, including Tax Assessment payments, were up a combined $11.6 million.

Sales and Use Tax: Gross Sales and Use Tax collections increased by nearly $66.5 million - or 7.4 percent - to a total of $966.1 million for the month. Net Sales and Use Tax increased by $18.7 million - or 4.1 percent - compared to February 2018 when net sales tax totaled $459.5 million. The adjusted Sales Tax distribution to local governments totaled $483.3 million for an increase of $49 million - or 11.3 percent - over the previous fiscal year. Lastly, Sales Tax Refunds fell by nearly $1.3 million - or 21.7 percent - compared to FY 2018.

Corporate Income Tax: Corporate Income Tax collections for the month totaled $17.3 million, which was an increase of $46.2 million - or 159.9 percent - compared to FY 2018. 
The following notable components within Corporate Income Tax comprise the net increase:

Corporate Income Tax refunds issued (net of voids) were down $47.3 million - or -82.1 percent.
Corporate Income Tax Return payments decreased by $3.7 million - or -45.3 percent.
All other Corporate Tax types, including Corporate Estimated Tax payments, were up a combined $2.6 million.

Motor Fuel Taxes: Motor Fuel Tax collections increased by $5.4 million, or 3.8 percent, compared to FY 2018.

Motor Vehicle - Tag & Title Fees: Motor Vehicle Tag & Title Fees increased by nearly $3.2 million - or 8.6 percent - for the month, while Title Ad Valorem Tax (TAVT) collections decreased by $2.6 million - or -3.1 percent - from last year’s total of $83.5 million.

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Brian P. Kemp is a husband, father, businessman, and public servant. On November 6, 2018, he was elected Georgia's 83rd Governor. Kemp built his first business – Kemp Development and Construction Company – with a pick-up truck and a shovel. Over thirty years later, he is a successful entrepreneur with businesses and investments in banking, farming, timber, manufacturing, and real estate. As Governor, Kemp will fight to make Georgia the top state for small business through regulatory reform, ensure that all parts of our state have opportunities to grow and thrive, and keep our families safe - always putting hardworking Georgians first. Kemp is married to the former Marty Argo of Athens. They are the proud parents of three daughters – Jarrett, Lucy, and Amy Porter –and active members of Emmanuel Episcopal Church.

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Contact Info

Contact Name: Cody Hall

Company: Governor's Office of Communications

E-mail: cody.hall@georgia.gov