Georgia Tax Collections

January revenues up over 10 percent

by Staff Reports

Gov. Nathan Deal announced Monday that Georgia’s net tax collections for January totaled $1.73 billion for an increase of nearly $164 million, or 10.4 percent, compared to January 2012.

At the end of seven months, net tax revenue collections are up almost $564 million, or 5.7 percent, compared to the same point last year

The following sections summarize the net revenue changes within major tax categories during the month:

• Individual Income Tax:

Individual Income Tax collections in January 2013 totaled $1.025 billion — up from $881.75 million in January 2012 — for an increase of $143.25 million, or 16.3 percent.

The following notable components within Individual Income Tax account for the increase:

Individual Estimated payments were up $90.75 million, or 85.8 percent.

Individual Withholding payments were up $53 million, or 6.9 percent.

Individual Income Tax refunds (net of voided checks) were down $26 million, or -47.2 percent.

All other Income Tax categories, including Return payments, combined for a decrease of $26.5 million.

• Sales and Use Tax:

Net Sales and Use Tax collections for January 2013 totaled nearly $519 million, up slightly from January 2012 when net sales tax totaled $518.5 million. Gross sales tax collections dipped slightly by $660,000, or -0.07 percent, compared to last year, while the distribution to local governments fell $11.75 million to a total of $444.25 million. However, sales tax refunds increased $10.75 million, effectively offsetting the impact of the distribution and helping to create an essentially flat month of net collections relative to 2012.

• Corporate Income Tax:

Corporate Income Tax collections for January 2013 increased $18.25 million, or 710 percent, compared to last year’s net collections total of $2.5 million. Net corporate refunds dropped considerably compared to last fiscal year, while gross corporate revenue dropped only slightly by $1.5 million.

The following notable components within Corporate Income Tax make up the increase:

Corporate Tax refunds (net of voided checks) were down $19.75 million, or -54.8 percent.

Corporate Estimated payments were up $11 million, or 70.2 percent.

Corporate Tax Return payments were down $16 million, or -79.6 percent.

All other Corporate Tax categories (including S-Corp) combined for an increase of $3.5 million.


More Business

Several retailers to close doors on Thanksgiving

For many consumers, Thanksgiving Day won’t be ending on the couch. According to a recent Accenture Holiday Shopping survey, 38 percent ... Read More


Business Briefs

Steakholders Midway opens Steakholders Midway has opened at 27 Jackson Street in downtown Newnan. It’s the second location of the Ph ... Read More


Business People

Duncan joins Stemberger and Cummins Attorney John Duncan has joined the law firm of Stemberger and Cummins, P.C. Duncan is currently preside ... Read More


Nursery owner uses old roots for new venture

If you ask Bob Lott what retirement is like, chances are he’ll probably laugh. Since opening Southern Roots nursery at the old A&W ... Read More


Downtown development benefits everyone

Cities across Georgia continue to operate in a hyper-competitive environment; the competition for investment opportunities has intensified a ... Read More

Business Briefs

Nickell Rental carrying new CAT mini excavators Nickell Rental of Newnan is one of the first owners of the new Cat E2 Series Mini Hydraulic ... Read More