Georgia: December Net Tax Revenues Up 3%

ATLANTA ~ Georgia's Net Tax Collections Increase by 3% in December

According to recent data released by the State of Georgia, net tax collections for the month of December totaled $3.44 billion, marking an increase of nearly $101 million or 3% compared to the same period in 2024. This brings the year-to-date net tax revenue collections through December to a total of $16.72 billion, showing a significant increase of $363.7 million or 2.2% compared to December FY 2025.

The rise in net tax collections can be attributed to changes within various tax categories. Individual income tax collections saw a significant increase of $108.7 million or 7.3% over FY 2025, with individual tax revenues totaling approximately $1.6 billion for the month. This can be attributed to a decrease in individual income tax refunds issued (net of voided checks) by $22.4 million or 31.3%, an increase in income tax withholding payments by $78.6 million or 5.5%, and an increase in all other individual tax categories, including estimated tax payments, by a combined total of $16.3 million.

Gross sales and use tax collections also saw an increase of $39.3 million or 2.5% compared to December 2024, with net sales and use tax increasing by $9 million or 1.2%. The adjusted sales tax distribution to local governments also saw a significant rise of $29.6 million or 3.8%, while sales tax refunds increased by $0.6 million.

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Corporate income tax collections for the month showed a modest increase of $11.9 million or 1.7% compared to last year, with net corporate tax revenues totaling $683.1 million in December 2024.This can be attributed to a decrease in corporate income tax refunds issued (net of voids) by $5.9 million or 22.8%, and an increase in corporate income tax estimated payments by $6.4 million or 1.5%. However, corporate income tax return payments decreased by $11 million or 11.9% from December 2024.

Motor fuel tax collections also saw a slight increase of $4.9 million or 2.6% compared to the previous fiscal year, with motor fuel tax receipts totaling $186.9 million.

On the other hand, motor vehicle tag and title fee collections for December saw a decrease of $2.5 million or 7.3%, while title ad valorem tax (TAVT) collections declined by $4.8 million or 7.3% from FY 2025.

Overall, the State of Georgia's net tax collections have shown a positive trend in December, with significant increases in individual income tax and sales and use tax collections contributing to the overall growth in net revenue for the month. These numbers are a promising sign for the state's economy and its financial stability moving forward into the new year.

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