The state’s tax revenues took a hit in May.
Georgia’s net tax collections during the month of May totaled about $2.5 billion, that’s a decrease of more than $205 million, or 7.6 percent compared to May of 2022. Even with that drop, year-to-date collections were up more than $51 million, for a total of $30.2 billion.
Thanks in part to refunds from the state, individual income tax revenues were down. Other tax revenues, including corporate income taxes, and sales and use taxes, increased.
In addition to individual income taxes, motor vehicle tag and title fees were also down in May.
