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.
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