Georgia’s year-over-year tax collections up slightly in July

(The Center Square) – Net tax revenue in Georgia was $2.16 billion in July, representing an $8.7 million increase compared with July 2020, Gov. Brian Kemp’s office said.

Gross tax revenue in July was $2.92 billion, reflecting an increase of $187.2 million over the same time in 2020.

Individual income tax collections for July totaled about $1.06 billion, representing a decrease of about $105.9 million compared with July 2020. Individual income tax return payments increased by $37.8 million – or about 246% over last year.

Net sales and use tax collection increased by $101.1 million – or 17.2% – compared with July 2020. The adjusted sales tax distribution to local governments was $661 million, a 22% increase compared with fiscal year 2020.

Corporate income tax collections were $58.5 million for the month, representing about a $19.4 million dip compared with fiscal year 2020.

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