April 27, 2024
ATLANTA – State tax collections rose slightly last month compared to November of last year, the Georgia Department of Revenue reported Friday.
The state brought in $2.32 billion in November, up 1.5% over the same month a year ago.
Tax receipts increased by 3.3% during the first five months of fiscal 2024, driven primarily by the state collecting the sales tax on gasoline and motor fuels during much of the period. The gas tax was suspended during much of the comparable period last year.
Not counting gasoline tax revenue, state tax revenues for July through November declined 1.7% compared to the same months last year.
Individual income tax collections increased slightly – just 0.5% – last month compared to November 2022. Net sales taxes rose by 1.7% in November.
Typically more volatile corporate income tax receipts were up by 48.4% last month, largely due to a huge 219.3% jump in corporate tax return payments.
