Governor Nathan Deal - Georgia’s 82nd Governor (2011-2019)

The content on this website is archived historic material and should be used for research purposes only. This website is no longer updated, and some links may not work. For inquiries please contact Governor Kemp’s office.

Deal: February revenues up 4 percent

March 6, 2013

Gov. Nathan Deal today announced that Georgia’s net tax collections for February totaled $796 million for an increase of nearly $31 million, or 4 percent, compared to February 2012. After eight months in this fiscal year, net tax collections are up almost $595 million, or 5.6 percent, compared to the same point last year.

The following sections summarize the net revenue changes within the major tax categories during the month:
 
Individual Income Tax: Individual Income Tax collections in February totaled $207.5 million — down from $235.75 million in February 2012 — for a decrease of $28.2 million, or -12 percent.
 
The following notable components within Individual Income Tax account for the decrease:
•      Individual Withholding payments were down $46 million, or -5.9 percent
•      Individual Income Tax refunds (net of voided checks) were up $2 million, or 0.4 percent
•      All other Income Tax categories, including Return payments, combined for an increase of $19.75 million
 
Sales and Use Tax: Net Sales and Use Tax collections for February totaled $446.25 million, up $34 million, or 8.3 percent, compared to last year when net sales tax totaled $412.25 million. Gross sales tax collections increased $23 million, or 3 percent, compared to FY 2012. The distribution to local governments fell $6.5 million to a total of $348 million and sales tax refunds for the month decreased $4.5 million relative to February 2012.
 
Corporate Income Tax: Corporate Income Tax collections for February increased $31 million, or 92.3 percent, compared to last year’s net collections total of $33.5 million. Net corporate refunds dropped considerably compared to last February, while gross corporate revenue increased nearly $10 million over last year.
 
The following notable components within Corporate Income Tax make up the increase: 
•      Corporate Tax refunds (net of voided checks) were down $21.25 million, or -40.8 percent
•      Corporate Estimated payments were up $7.75 million, or 68.1 percent
•      All other Tax categories, including Corporate Return payments, combined for an increase of $2 million
Related Files: