GA Tax Revenues Up 6.4% In January
An announcement was made today by Gov. Deal stating that Georgia’s net tax collections for January, 2016 totaled almost $2.05 billion, an increase of about $119.3 million (6.4%) from January, 2015. This brings the net tax revenue collections to $12.49 billion for the current 2016 fiscal year, which is up $1.02 billion (8.9%) from last year.
In addition, $67.4 million was generated for transportation in January due to changes implemented by House Bill 170.
The following is a breakdown of the January, 2016 revenues in comparison to January, 2015:
| Description | Amount Collected | Change From Jan., 2015 | Percentage Change |
| Individual income taxes | $1.14 billion | $83.1 million | 7.9% |
| Gross Sales & Use Tax | $1.03 billion | $6.2 million | 0.6% |
| Net Sales & Use Tax | $557.5 million | $13.2 million | 2.4% |
| Corporate income taxes | $34.4 million | $18.4 million | 115.7% |
A copy of the January, 2016 financial report can be seen below the fold.
[gview file=”https://www.georgiapol.com/wp-content/uploads/2016/02/Jan16.pdf”]
About Author
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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Nice to see corporations step up to chip in their 1.2%!