An announcement made yesterday by Gov. Nathan Deal stated that Georgia’s net tax collections for February, 2017 totaled almost $1.17 billion, a decrease of about $70 million (-5.6%) from February, 2016. This brings the net tax revenue collections to $14.23 billion for the current 2017 -18 fiscal year, which is up $498.4 million (3.6%) from last year.
The difference between Feb., 2016 and Feb., 2017 is chiefly due to an increase of tax refunds and lower tax payments. A $65.4 million (13.8%) increase was seen in individual income tax refunds and a decrease of $6.5 million (-0.7%) in individual income tax withholding payments. Corporate tax refunds were up approximately $32.6 million (265.8%), while corporate income tax return payments were down nearly $17 million (-95.3%).
The following is a breakdown of the February, 2017 revenues in comparison to February, 2016:
| Description | Amount Collected | Change From Feb., 2016 | % Change |
| Individual income taxes | $451.9 million | -$58.1 million | -11.4% |
| Gross Sales & Use Tax | $812 million | $35.3 million | 4.6% |
| Net Sales & Use Tax | $420.8 million | $38.5 million | 10.1% |
| Corporate income taxes | -$23.3 million | -$55.8 million | -171.9% |
| Motor Fuel Taxes | $138.7 million | $2.6 million | 1.9% |
A copy of the February, 2017 financial report can be seen at the Governor’s website.