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.