Georgia’s June net tax revenue down 8.8% from a year ago

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ATLANTA (41NBC/WMGT) – Georgia’s June net tax revenue was down 8.8% from the same time period last year.

That’s according to a news release from Governor Brian Kemp’s Office Friday, which said the state’s net tax collections approached $1.94 billion, a decrease of $187 million from June 2019.

Net tax collections for FY 2020 currently total almost $22.75 billion, which reflects a decrease of roughly $1.04 billion, or -4.4 percent, compared to the previous fiscal year.

“Please note that, due to the Georgia income tax filing deadline extension related to tax year 2019, total net collections for FY 2020 are not yet final,” the release said.

Individual Income Tax

Individual Income Tax collections decreased by $5.8 million, or -0.6 percent, compared to FY 2019 when Income Tax collections totaled more than $1.04 billion.

Sales and Use Tax

Gross Sales and Use Tax collections totaled approximately $1.04 billion, which was a decrease of $28.8 million, or -2.7 percent, compared to FY 2019. Net Sales and Use Tax fell by $10.2 million, or -1.9 percent, compared to June 2019 when net sales tax totaled $527.7 million.

Corporate Income Tax

Corporate Income Tax collections totaled nearly $98.3 million for a decrease of $127.6 million, or -56.5 percent, from last year when Corporate Tax collections totaled $225.8 million.

Motor Fuel Taxes

Motor Fuel Tax collections decreased by $24.5 million, or -14.9 percent, compared to FY 2019.

Motor Vehicle – Tag & Title Fees

Motor Vehicle Tag & Title Fees increased by nearly $2.4 million, or 8.4 percent, while Title Ad Valorem Tax (TAVT) collections declined by $19.9 million, or -31.2 percent, compared to last year.

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(478) 745-4141 ext. 310 Tucker Sargent joined the 41NBC news team in April 2012. He hails from "The Great State of Alabama," as he calls it, but you won't catch him saying "Roll Tide!" Tucker grew up near Auburn, before moving to north Alabama. He graduated from Danville High School in 2007 and loves to return to the Tennessee Valley any chance he gets. He moved back south to Troy, Alabama after high school, where he graduated from Troy University in 2011 with a B.S. in Broadcast Journalism. He interned in Huntsville at WAAY-TV before joining 41NBC. His passion is sports, and his favorite teams are the Auburn Tigers and Troy Trojans. On the weekends you can catch Tucker watching college football on Saturdays and NASCAR on Sundays! He's proud to call middle Georgia home for now and could always use a story idea from you, so don't hesitate to get in touch with him!