Georgia continues to see healthy tax revenues coming into state coffers.
According to Governor Brian Kemp’s office, net tax revenue for June came in at $3 billion, a 6.5% increase from June 2023.
Much of that growth was driven by a nearly 32% increase in money from corporate taxes. State officials issued less in corporate tax refunds, while corporate tax revenue rose. Individual income tax revenue and sales and use tax revenue also rose slightly.
Georgia has seen record influxes of revenue in recent years, prompting Governor Kemp and state budget writers to be relatively generous with the state’s purse strings. But during this year’s legislative session, lawmakers warned of possible leaner times to come.
