Georgia’s net tax collections totaled $2.5 billion last month, a 13.1% increase from July 2022, largely due to the reinstatement of motor fuel tax, which came back into effect this January after a 10-month-long suspension ordered by Governor Brian Kemp.
Individual Income tax collections also increased compared to this time last year, up from a total of $1.17 billion in July 2022 to $1.26 billion last month, for an increase of around 8%.
Corporate Income Tax collections for the month totaled $96.5 million, which was an increase of nearly $1.5 million, or 1.6 percent, up from the fiscal year 2023 when net Corporate Tax revenues totaled $95 million for July.
Motor Vehicle Tag & Title Fee collections for the month decreased by $0.6 million, or -2 percent, while Title ad Valorem Tax (TAVT) collections increased by $3.2 million, or 4.6 percent, compared to the previous fiscal year.
