During the month of October Georgia’s net tax collection totaled to $2.53 billion, for a decrease of $89.7 million. Year to date, net tax revenue collections totaled almost $10.64 10 point six four billion dollars compared to October 2023 when net tax collections totaled $10.7 billion.
Year to year comparisons were affected by the 2023 motor fuel tax suspension. Net motor fuel tax changes, revenues for October were down by 7.7% while year to date collections were down by 1.9%. Net collections for October were also negatively impacted by the hurricane related income tax filing.
Individual Income Tax collection during October totaled almost $1.26 billion, one point two six billion dollars down from a total of nearly $1.38 billion one point three eight billion dollars in fiscal year 2024. Motor Fuel Tax collections for October increased by $105.6 million compared to last year, even with Governor Kemp’s Executive Order to suspend the fuel tax.
