December tax collections in Georgia increase by 7.7%

(The Center Square) – December’s net tax collections in Georgia were up 7.7% compared with December 2019, Gov. Brian Kemp said.

Georgia collected about $2.4 billion in net tax revenue in December – about a $171.4 million increase in collections. Fiscal-year-to-date collections are $12.6 billion, reflecting a year-over-year increase of $722.5 million, or 6.1%.

Individual income tax collections increased by nearly $83.4 million – or 7.2% – in December compared with December 2019. Individual income tax refunds were down $11.4 million – or 17.3% – and individual tax estimated payments decreased by about $3.3 million – or 7.1% – from last year.

Net sales and use tax collection in December increased by about $48.3 million – or 9.2% – compared with December 2019. The adjusted sales tax distribution to local governments went up by $25.4 million – or 4.8%.

In December, corporate income tax collections were $246.5 million, which was a $34.4 million increase from December 2019 – or 13.9%.

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