ATLANTA — The office of Georgia Gov. Brian Kemp announced Tuesday that the state’s net tax collections rose to $2.56 billion in July.
According to the state, the first month of the 2025 fiscal year saw a 2.7% increase in net revenue, $66.3 million more than the July before.
[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]
TRENDING STORIES:
- What ‘hidden costs’ for car ownership have Georgia families paying the most in extra fees?
- Georgia to move Medicaid, Medicare to state-run marketplace in November
- Officials say Georgia universities had $21.9 billion impact on state economy
State officials highlighted the following changes in tax collections.
Increases
- Sales and use taxes totaled $1.6 billion in July, a 4.5% increase
- Corporate income taxes totaled $123.9 million, a 28.4% increase
- Motor fuel taxes rose 4.5% to $183.1 million in July
- Motor vehicle tag and title fees rose 12.7%
- Individual income taxes refunds increased $3.8 million, or by 3.6%
- Individual income tax estimated payments rose 23.3%, or by $3.9 million
- All other individual income taxes were up $7.4 million
Decreases
- Individual income withholding payments decreased 1%, or $12.7 million
- Corporate income taxes refunds fell 110.1%, or $23.2 million less than the year before
- Corporate income estimated payments rose 17%, by $10.5 million
- All other corporate taxes fell $6.3 million
- Title ad Valorem taxes fell 8.7% on cars, a $6.4 million decrease
[SIGN UP: WSB-TV Daily Headlines Newsletter]
IN OTHER NEWS:
©2024 Cox Media Group
