Georgia’s net tax collections total nearly $3B in April

(The Center Square) – Net tax revenue in Georgia was $2.8 billion in April, representing a $964 million increase, or 52.4%, compared with April 2020, Gov. Brian Kemp’s office said.

Georgia’s decision to delay processing tax year 2020, however, made it hard to grasp the full year-over-year comparisons. Fiscal-year-to-date net tax collections are nearly $21.7 billion, a 13.1% year-over-year increase.

Individual income tax collections totaled about $1.2 billion – an increase of $371 million, or 44%, compared with April 2020. Individual income tax refunds increased by $128.9 million, or 40.4%.

Net sales and use tax collection increased by $220.5 million, or 45%, compared with April 2020. The adjusted sales tax distribution to local governments was $624.2 million, a 27% increase compared with fiscal year 2020.

Corporate income tax collections were $453.3 million for the month, representing a $362 million increase, or 396.2%, compared with April 2020.

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