An announcement made yesterday by Gov. Nathan Deal stated that Georgia’s net tax collections for March, 2017 totaled almost $1.57 billion, an increase of about $32.5 million (2.1%) from March, 2016. This brings the net tax revenue collections to $15.8 billion for the current 2017 -18 fiscal year, which is up $530.9 million (3.5%) from last year.
The following is a breakdown of the March, 2017 revenues in comparison to March, 2016:
Description | Amount Collected | Change From March, 2016 | % Change |
Individual income taxes | $733.7 million | $123.5 million | 20.2% |
Gross Sales & Use Tax | $826.1 million | $5.2 million | 0.6% |
Net Sales & Use Tax | $435.2 million | $0 | 0% |
Corporate income taxes | $96.9 million | -$82.8 million | -46.1% |
Motor Fuel Taxes | $131.9 million | -$2.7 million | -2.0% |
Tag and Title Fees | $31.6 million | -$2.5 million | -7.3% |
Title Ad Valorem Tax | $76.3 million | -$2.2 million | -2.8% |
A copy of the March, 2017 financial report can be seen at the Governor’s website.