GA Sept. Tax Revenues Up 4.6% From 2014

An announcement was made today by Gov. Deal stating that Georgia’s net tax collections for September, 2015 totaled almost $1.97 billion, an increase of about $83.4 million (4.6%) from September, 2014. This brings the final net tax revenue collections to $5.13 billion for the 2015-2016 fiscal year, which is up $438.7 million (9.4%) from last year.

In addition, $74.3 million was generated for transportation due to changes implemented by House Bill 170.

The following is a breakdown of the September, 2015 revenues in comparison to September, 2014:

Description Amount Collected Change From Sept., 2014 Percentage Increase
Individual income taxes $1.01 billion $62.3 million 6.6%
Gross Sales & Use Tax $865.2 million $7.8 million 0.9%
Net Sales & Use Tax $444.1 million -$1.5 million -0.3%
Corporate income taxes $187.1 million $2.5 million 1.4%

 

A copy of the September, 2015 financial report can be seen after the break.

Download (PDF, 29KB)

5 comments

  1. G. Moxley Sorrel says:

    http://www.usgbc.org/articles/infographic-usgbc%E2%80%99s-green-building-economic-impact-report

    Study did not include sales tax, but it does generate revenue.
    Impact on Georgia by the numbers.

    Sustainable Building –
    2015-18 Contribution to GDP 33.37 Billion dollars
    2015-18 Jobs 392,000
    2015-18 Labor Earnings 22.36 Billion dollars

    LEED Certified Building –
    2015-18 Contribution to GDP 8.63 Billion dollars
    2015-18 Jobs 99,000
    2015-2018 Labor earnings 5.79 Billion dollars
    2018 Tax Revenue 290.2 million dollars

  2. Charlie says:

    $74.3 Million x 12 = $891.6 Million

    The Fiscal Note on the bill set the impact between $868M and $873M.

    I’d say that HB 170 is working as intended. If this number is annualized, there’s less than a 3% differential from that range.

  3. saltycracker says:

    “Year-to-date, net tax revenue collections totaled almost $5.13 billion, for an increase of nearly $438.7 million, or 9.4 percent, compared to last year, when net tax revenues totaled $4.69 billion.

    House Bill 170, which introduced an array of tax reforms and new tax legislation beginning on July 1, generated transportation revenue of $74.3 million in September. As a result, the total revenue for September 2015 increased 8.7 percent over September 2014.”

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