Georgia reports decreased March tax collections

(The Center Square) — Georgia’s net tax collections for March decreased by 3% from a year ago, new state revenue figures show.

While collections for the month surpassed $2.6 billion, the total was more than $82.7 million less than net tax collections a year ago.

Despite the decrease in March, the Peach State’s year-to-date net tax collections exceeded $23.6 billion, an increase of 4.8%, or nearly $1.1 billion from last year. In 2022, net tax revenues totaled more than $22.5 billion through three quarters of the state’s fiscal year.

According to state officials, part of the decrease stems from individual income tax collections, which decreased by 25.2%, or $400.1 million, to roughly $1.2 billion. Last year, individual income tax collections totaled nearly $1.6 billion.

State officials also reported that individual income tax refunds increased by 121.9%, or $392.9 million, while individual withholding payments increased by 6%, or $93.9 million, from last fiscal year.

Concurrently, corporate income tax collections increased 142.9%, or $292.8 million, over last year, totaling $497.7 million.

Additionally, gross sales and use tax collections in March totaled more than $1.3 billion, an increase of 6% or $76.5 million, over last year. Meanwhile, net sales and use tax collections increased by 3.8%, or roughly $24.2 million, from last March.

During the first three quarters of the fiscal year, motor fuel tax collections totaled $271.9 million, down by 81.8% from the nearly $1.5 billion collected at this point during the last fiscal year. Gov. Brian Kemp, a Republican, signed a series of measures to suspend the state’s gas tax collection in the wake of higher inflation.

By T.A. DeFeo | The Center Square contributor

1 Comment

  1. Single Srs. People in Suites apts. in GA. pay more taxes incl. Lodging in 3.25 yrs. than homeowners with kids in schools do in that time!
    Cartersv. GA. Bartow co. NW
    Infested properties sub par code lacking common decency.
    Tenants are victims, not culprit scapegoats, nor scapegoat culprits.
    Owners, clerks, Mgrs., Clerical, maint., keepers, investors, RE cos. of suites not in compliance should be shackled into court systems and incarcerations if necessary!
    This is a 14+ year problem minimum!
    The Murdaugh cases in SC went on for 12+ yrs. or more. The Prosecutor has been on for 25+ yrs.! How was he not shackled before killings…(?) Quicksand deepens… next 11 yrs. …

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