posted May 9, 2008
Georgia Gov. Sonny Perdue announced today that net revenue collections for the month of April totaled $1,761,180,000 compared to $1,309,159,000 for April 2007 - an increase of $452,021,000 or 34.5 percent.
The percentage increase year-to-date for FY08 compared to FY07 is 4.7 percent.
“The dramatic rise in revenues this month is primarily the result of process improvements made by the Department of Revenue, including hiring an outside vendor to help process hundreds of thousands of additional payments when compared to this time last year,” Gov. Perdue said.
GEORGIA DEPARTMENT OF REVENUE
Comparative Net Revenue Collections
(unaudited - 000's)
April 2007
(FY 2007)
April 2008
(FY 2008) $ Change
%
Change
Tax Revenues:
Income Tax - Individual: $ 4 80,516 $ 945,283 $ 4 64,767 96.7%
Sales and Use Tax - General: (Footnote 1)
Sales and Use Tax - Gross $ 898,752 $ 874,259 $ (24,493) -2.7%
Local Sales Tax Distribution $ (363,100) $ (333,108) $ 2 9,992 8.3%
Sales Tax Refunds/Adjustments $ (5,697) $ (8,309) $ (2,612) -45.8%
Net Sales and Use Tax - General $ 529,955 $ 532,842 $ 2 ,887 0.5%
Motor Fuel Taxes:
Pre Paid Motor Fuel Sales Tax $ 34,942 $ 47,511 $ 1 2,569 36.0%
Motor Fuel Excise Tax $ 42,382 $ 40,119 $ (2,263) -5.3%
Total Motor Fuel Taxes $ 7 7,324 $ 87,630 $ 1 0,306 13.3%
Income Tax - Corporate $ 165,015 $ 120,211 $ (44,804) -27.2%
Tobacco Taxes $ 21,145 $ 20,098 $ (1,047) -5.0%
Alcohol Beverages Tax $ 8,843 $ 12,714 $ 3 ,871 43.8%
Estate Tax $ 4 $ - $ (4) -100.0%
Property Tax $ 1,260 $ 2,376 $ 1 ,116 88.6%
Motor Vehicle - Tag, Title & Fees (Footnote 4) $ 24,567 $ 24,008 $ (559) -2.3%
Total Tax Revenues $ 1 ,308,629 $ 1,745,162 $ 4 36,533 33.4%
Other Revenues:
Other Fees and Sales (Footnote 3) $ 530 $ 16,018 $ 1 5,488 2922.3%
Total Taxes/Other Revenues $ 1 ,309,159 $ 1,761,180 $ 4 52,021 34.5%
$ %
GENERAL FUND FY 2007 FY 2008 Change Change
Tax Revenues:
Income Tax - Individual $ 6 ,555,107 $ 7,173,491 $ 6 18,384 9.4%
Sales and Use Tax - General: (Footnote 1)
Sales and Use Tax - Gross $ 8 ,875,908 $ 8,910,682 $ 3 4,774 0.4%
Local Sales Tax Distribution (Footnote 2) $ (3,934,326) $ (3,974,669) $ (40,343) -1.0%
Sales Tax Refunds/Adjustments $ (76,395) $ (67,433) $ 8 ,962 11.7%
Net Sales and Use Tax - General $ 4 ,865,187 $ 4,868,580 $ 3 ,393 0.1%
Motor Fuel Taxes:
Pre Paid Motor Fuel Sales Tax $ 4 00,208 $ 445,865 $ 4 5,657 11.4%
Motor Fuel Excise Tax $ 4 11,219 $ 393,958 $ (17,261) -4.2%
Total Motor Fuel Taxes $ 8 11,427 $ 839,823 $ 2 8,396 3.5%
Income Tax - Corporate $ 7 74,570 $ 763,203 $ (11,367) -1.5%
Tobacco Taxes $ 1 90,743 $ 187,812 $ (2,931) -1.5%
Alcohol Beverages Tax $ 1 26,256 $ 135,304 $ 9 ,048 7.2%
Estate Tax $ 1 ,166 $ 12 $ (1,154) -99.0%
Property Tax $ 7 3,392 $ 78,091 $ 4 ,699 6.4%
Motor Vehicle - Tag, Title & Fees (Footnote 4) $ 2 43,900 $ 254,409 $ 1 0,509 4.3%
Total Tax Revenues $ 1 3,641,748 $ 14,300,725 $ 6 58,977 4.8%
Other Revenues:
Other Fees and Sales (Footnote 3) $ 7 0,659 $ 56,363 $ (14,296) -20.2%
Total Taxes/Other Revenues $ 1 3,712,407 $ 14,357,088 $ 6 44,681 4.7%
Footnotes:
1. For press release purposes only, DOR realigned the reporting of Sales and Use Tax as shown above. The Local distribution now reflects the
distribution for the month the collection occurred. For the current month, the distribution was determined using a weighted average % of the
current month's collections. All preceding months' distributions will be adjusted by the over/under estimations.
2. A net YTD reduction of $66M was made from July-October 2007 to properly adjust prior year estimated sales tax distribution totals to
prior year actual distribution totals for comparative purposes for all of FY 2008.
3. Other Fees and Sales include taxes and fees that have been deposited in the bank, but the returns have not been processed. The undistributed amounts,
as processed, are reclassified to the proper accounts. It also includes unclaimed property collections.
4. The Motor Vehicle Division began collecting Auto Sales Tax funds in January 2006. An adjustment was made to reclassify Sales Tax collections from
Motor Vehicle to Other Fees and Sales, to reflect the transaction in November FY 2007. Revenue is then reclassified to Sales Tax in the following month.
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