Georgia’s financial data showed an increase in net tax revenue collections in December. The Governor’s office reported that tax collections for the month amounted to $3.44 billion, a 3% increase compared with December 2024. Year-to-date figures indicate a net increase of 2.2%, totaling approximately $16.72 billion.
Individual Income Tax collections totaled $1.6 billion, representing a 7.3% increase from the previous fiscal year, supported by a 31.3% decrease in tax refunds. Income Tax Withholding payments rose by $78.6 million, while Individual Income Tax Return payments fell by 23% compared with December 2024.
Gross Sales and Use Tax collections increased by 2.5%, while Net Sales and Use Tax grew by 1.2%. Local government allocations from the adjusted Sales Tax distribution rose by 3.8%, and Sales Tax refunds showed only a minimal increase.
Corporate Income Tax collections rose by 1.7%. Within this category, refunds to corporations fell by 22.8%, Corporate Tax Return payments declined by 11.9%, and Corporate Income Tax Estimated payments increased by 1.5%.
Motor Fuel Tax collections rose by 2.6%, while revenue from Motor Vehicle – Tag, Title, and Fees declined, including decreases in both Tag and Title Fee collections as well as Title Ad Valorem Tax collections.
_in_Batumi,_Georgia_on_June_23,_2020.jpg){kind=link}