The State of Georgia reported a slight increase in net tax collections for January, totaling over $3.05 billion. This marks a rise of approximately $2 million or 0.1% compared to the same month in 2024. The year-to-date net tax revenue collections reached nearly $19.41 billion, an increase driven mainly by the collection of the state’s motor fuel excise tax, which had been suspended for part of FY 2024 by an Executive Order.
After adjusting for changes related to the motor fuel tax, year-to-date net tax revenue collections as of January 31 were down by $173.1 million or 0.9%.
In terms of specific categories, Individual Income Tax collections saw a decline, totaling around $1.59 billion in January, down from nearly $1.67 billion in fiscal year 2024—a decrease of $71.1 million or 4.3%. Notably, refunds issued decreased by $90.6 million or 61.5%, while withholding payments and estimated payments also dropped.
Sales and Use Tax collections showed growth with gross figures reaching nearly $1.85 billion, an increase of $108.6 million or 6.2% over FY 2024 figures.
Corporate Income Tax collections rose by $16.7 million or 11.6%, with refunds issued dropping significantly but estimated payments decreasing.
Motor Fuel Tax collections increased by $13.9 million or 7.7% compared to last year’s figures for January.
Finally, Motor Vehicle Tag & Title Fee collections fell by $3.9 million or 10%, whereas Title ad Valorem Tax (TAVT) collections grew by $6.3 million or 9%.
