Georgia tax revenues September: State net collections up 2.3%

ATLANTA - Georgia’s net tax revenues grew by 2.3% in September, bringing total collections to $3.34 billion, Gov. Brian Kemp announced Wednesday.

Revenue growth driven by sales tax

By the numbers:

Georgia net tax collections rose by $76.7 million compared to last September, when state revenues reached $3.27 billion. Year-to-date collections stand at $8.41 billion, reflecting a 2.9% increase over the same three-month period last year.

Sales tax gains offset income drops

What we know:

Gross sales and use tax collections expanded by 8.6% to reach $1.73 billion. Net sales tax revenue rose 13.3% to $839.8 million, aided by a $62.2 million drop in refund payouts. Local governments received $880.4 million in adjusted sales tax distributions, up 12.8% from last year.

Individual income tax collections fell 4.1% to $1.42 billion. Withholding payments dropped 5.1% to $62 million, while income tax refunds increased 28.1%. However, individual estimated tax payments saw a 15.3% jump.

Corporate income tax revenues climbed 5.9% to nearly $37.9 million above last year’s total. Estimated corporate payments jumped 32%, offsetting a 45.3% decline in return payments and a 66.7% increase in corporate refunds. Motor fuel tax collections dropped slightly by 0.2%, while motor vehicle tag and title fees increased 22.1%. Title Ad Valorem Tax collections fell 11.9%.