State Revenues Down Last Month
State revenues were down last month.
Net tax collections in Georgia for the month of October were down nearly 6%. They totaled $2.6 billion, a decrease of more than $84 million or a 3 percent drop from October 2022. The suspension of the state gas tax in September accounted for some $70 million of that decline. Excluding fuel tax revenues, all other October net tax collections fell by 5.7 percent compared to last year.
Individual income tax collections were down, but sales and use tax and, corporate income tax collections increased.
Total revenue collections were up 4 percent on a fiscal year-to-date basis.