The State of Georgia has reported a slight upturn in net tax collections for September, registering a total of nearly $3.27 billion. This marks a 1.9 percent increase from the previous fiscal year where the figure was approximately $3.21 billion. A press release from Gov. Kemp, accessed through the state government's official website, details the gains which contributed to the uptick in the state's financial health.
Driving the increase was the category of Individual Income Tax, where collections rose by $45.4 million, or 3.2 percent, from last year's total. Issued refunds decreased significantly, contributing to this rise with a net decline of $14.8 million, or -16.2 percent. Withholding payments and estimated payments also saw increases of 1.7 and 5 percent, respectively. However, the net revenue from Sales and Use Tax saw a decrease of 3.5 percent compared to last year, with refunds rising by $65.2 million over FY 2025.
Corporate Income Tax collections also showed a significant increase, coming in at 7.6 percent higher than the previous fiscal year. This was partly due to the decrease in Corporate Income Tax refunds, which dropped by $18.8 million, or -27.4 percent from FY 2025. Additionally, estimated payments showed a growth of 2.1 percent over September 2024.
Less significant, yet noteworthy, was the Motor Fuel Tax category, which showed a modest increase of 1.8 percent over the last fiscal year, totaling an additional $3.6 million. On the other hand, while Motor Vehicle Tag & Title Fee collections were up by 20.8 percent, the Title Ad Valorem Tax (TAVT) collections experienced a decrease, falling by $6.7 million, or -8.5 percent, compared to the previous year.
Considering these shifts in revenue streams, Georgia's economy maintains a course of gradual growth as reflected in these figures. The total year-to-date net tax revenue has now reached $8.17 billion, notching up by 0.8 percent from September of the prior year. With its diverse portfolio of income sources, the state continues to balance between various taxation areas, ensuring a stable financial environment as it navigates through the fiscal year.
