GA Tax Revenues Up 3.6% In December
An announcement was made today by Gov. Deal stating that Georgia’s net tax collections for December, 2015 totaled over $2.04 billion, an increase of about $67.7 million (3.6%) from December, 2014. This brings the final net tax revenue collections to $10.44 billion for the 2016 fiscal year, which is up $834.2 million (8.7%) from last year.
In addition, $67.0 million was generated for transportation in December due to changes implemented by House Bill 170.
The following is a breakdown of the December, 2015 revenues in comparison to December, 2014:
| Description | Amount Collected | Change From Dec., 2014 | Percentage Change |
| Individual income taxes | $1.11 billion | $27.1 million | 2.5% |
| Gross Sales & Use Tax | $830.9 million | -$3.0 million | -0.4% |
| Net Sales & Use Tax | $426.3 million | -$4.7 million | -1.1% |
| Corporate income taxes | $200.8 million | $13.6 million | 7.3% |
A copy of the December, 2015 financial report can be seen below the fold.
[gview file=”https://www.georgiapol.com/wp-content/uploads/2016/01/FY2016_DEC.pdf”]
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lawtonsack
Lawton is a graduate of Georgia Southern University (the GSU) with a degree in Information Technology. He has held numerous positions within the Georgia Republican Party throughout the years.
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Consumption taxes seem to be down, in general not a great sign ie less purchases.I wonder if it has to do with fuel prices being down, which could be a good sign……
The sales taxes don’t reflect good times. Did Dec stink because sales were down or internet sales and tax free purchases up ?
And what’s in those Ytd adjustments and refunds of sales taxes?
$423 mil in corporate taxes: Are there any numbers on what it costs for the state in expenses, administering, promotions,mlegislator entertaining and special bill writing to collect this comparatively low tribute.
Then toss in the money given back or not collected and the money corporations spent on influence…. not as costs to taxpayers but to spotlight that it is a circus in a political tent.
Yeah guys, but folks are making more money (up 2.5%) and corps making more (up 7.3%) according to taxes collected. That sounds pretty good, and maybe they are saving some.