Tax revenue in Georgia saw a slight bump in November, according to Gov. Brian Kemp’s Office.
Georgia’s net tax collections last month approached $2.38 billion – an increase of $52.9 million (or 2.3% compared to fiscal year 2024). That year, net tax collections totaled $2.32 billion for the month.
Net tax revenue (year to date) collections totaled nearly $13.02 billion, according to Kemp’s office, for a decrease of $8.3 million (0.1%, compared to November 2023).
Year-to-year comparisons were influenced by the 2023 motor fuel tax suspension.
Regarding the net of motor fuel tax changes, state officials say revenues for the month of November were down 3.4% from the same month a year ago while year-to-date collections were down 2.2%. Net collections for November also were impacted by the hurricane-related income tax filing and payment deadline extensions announced on October 3.
Return and payment deadlines for both individual and corporate income taxes was extended to May 1 of next year.
Gross sales and use tax revenues in November totaled about $1.60 billion – an increase of $97.3 million (or 6.5%) over FY 2024.
Net sales and use tax increased by $44.1 million (5.9%) compared to last year – when net Sales Tax revenue totaled $746.9 million.
The adjusted sales tax allocated to local governments totaled $802.1 million – an increase of $50.2 million (6.7%) over last year’s adjusted distribution total of $751.9 million, while sales tax refunds increased by $3 million versus FY 2024.
