The State of Georgia has reported a slight uptick in November's tax revenues, seeing an increase of 0.9% over the previous fiscal year, with net tax collections sitting at almost $2.4 billion. This marginal rise marks a continuation of fiscal growth, though when delving into the specifics, some categories have experienced a downturn, according to the official report released by the Governor's office.
While net tax revenue collections for the year have increased by 2.0% to nearly $13.28 billion, this figure is somewhat skewed by the temporary motor fuel tax suspension in the prior year following Hurricane Helene; accounting for this, revenues for November actually saw a decrease of 2.1% from the same month a year ago, and year-to-date collections were up by a smaller margin, 1.4%. The narrative is one of mixed markers: robust in the aggregate, nuanced in the details, and reflective of the individual economic activities within Georgia.
Individual Income Tax revenues, usually a stalwart contributor to the state coffers, dipped by 4.0% compared to fiscal year 2025, totaling around $1.13 billion. The decline is broken down into increased Individual Income Tax refunds, a 5.5% hike amounting to $3.8 million, coupled with notable reductions in Income Tax Withholding payments and Income Tax Return payments by 3.4% and 15.3% respectively, while Non-Resident payments and other categories showed a slight increase totaling $2.2 million.
In contrast, Sales and Use Tax told a more positive story, gross collections climbed by 2.4% to hit $1.64 billion and net collections increased by 3.0%; moreover, the distribution to local governments rose by 2.3% to $820.7 million, even as Sales Tax refunds fell by $3.5 million, demonstrating a concerted effort by consumers to engage with the market—yet the Corporate Income Tax collections for November starkly contrasted this, plummeting by a staggering 130.4%, or $38.3 million compared to the previous year, as refunds soared and return payments diminished, according to the same press release.
The Motor Fuel Taxes category witnessed a significant increase of $70.2 million, corrective growth following the moratorium enacted in the wake of natural disaster while the Motor Vehicle - Tag & Title Fees dipped by 13.4%, and Title ad Valorem Tax (TAVT) collections edged up by 5.1%.
