January 9, 2017 12:45 PM
GA Tax Revenues Up 0.7 Percent in December
An announcement was made today by Gov. Deal stating that Georgia’s net tax collections for December, 2016 totaled almost $2.06 billion, an increase of about $15.2 million (0.7%) from December, 2015. This brings the net tax revenue collections to $10.86 billion for the current 2017 fiscal year, which is up $414.4 million (4.0%) from last year.
The following is a breakdown of the December, 2016 revenues in comparison to December, 2015:
Description | Amount Collected | Change From Dec., 2015 | % Change |
Individual income taxes | $1.144 billion | $768,000 | 0.1% |
Gross Sales & Use Tax | $874 million | $43 million | 5.2% |
Net Sales & Use Tax | $465.8 million | $39.4 million | 9.2% |
Corporate income taxes | $34.4 million | -$37.3 million | -29.8% |
Motor Fuel Taxes | $143.5 million | $9.2 million | 6.9% |
A copy of the December, 2016 financial report can be seen at the Governor’s website.
2 Comments
Add a Comment
You must be logged in to post a comment.
.7% isn’t a number to panic over if you’re writing the budget. At least it’s positive.
That said, the end of December number shows a 4% revenue growth. If annualized that’s a little over $800 Million in year over year revenue growth.
Recall from our “Billion Dollar Surplus” myth series that population + inflation means that the state needs to take in about $700 Million per year to keep the status quo.
https://www.youtube.com/watch?v=Ohqaj4VLYKg
Add in the 25% pay raises to law enforcement officers and…..y’all get out there and make some more taxable income, or spend more, mmmmkay?
Corporate income tax: our bidness friendly state and underpaid, over lobbied legislators might let bidness focus on their core activities, sales and growth, if all our government help got out of the way.