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Governor Perdue Announces May Revenue Figures
| Monday, June 6, 2005 |
Contact: Office of Communications 404-651-7774
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ATLANTA – Governor Sonny Perdue announced today that net revenue collections for the month of May 2005 (FY05) totaled $1,451,619,000 compared to $1,397,825,000 for May 2004 (FY04). This represents an increase of $53,794,000 (3.8%) from the previous year.
The percentage increase year-to-date for FY05 compared to FY04 is 7.9%. There have been three additional deposit days in FY05 compared to FY04.
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Comparative Net Revenue Collections |
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(unaudited - 000's) |
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For the Month Ended |
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GENERAL FUND |
May 2004 (FY 2004) |
May 2005 (FY 2005) |
$ Change |
% Change |
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Tax Revenues: |
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Income Tax - Individual |
$ 794,983 |
$ 838,745 |
$ 43,762 |
5.5% |
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Sales and Use Tax - General |
$ 451,010 |
$ 484,813 |
$ 33,803 |
7.5% |
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Motor Fuel Taxes: |
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Prepaid Motor Fuel Sales Tax |
$ 17,494 |
$ 29,372 |
$ 11,878 |
67.9% |
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Motor Fuel Excise Tax |
$ 54,658 |
$ 39,522 |
$ (15,136) |
-27.7% |
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Total Motor Fuel Taxes |
$ 72,152 |
$ 68,894 |
$ (3,258) |
-4.5% |
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Income Tax - Corporate |
$ 24,884 |
$ 28,031 |
$ 3,147 |
12.6% |
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Tobacco Taxes |
$ 20,441 |
$ 20,120 |
$ (321) |
-1.6% |
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Alcohol Beverages Tax |
$ 14,457 |
$ 9,221 |
$ (5,236) |
-36.2% |
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Estate Tax |
$ 5,800 |
$ 1,439 |
$ (4,361) |
-75.2% |
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Property Tax |
$ 1,361 |
$ 1,047 |
$ (314) |
-23.1% |
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Total Tax Revenues |
$ 1,385,088 |
$ 1,452,310 |
$ 67,222 |
4.9% |
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Other Revenues: |
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Other Fees and Sales |
$ 12,737 |
$ (691) |
$ (13,428) |
-105.4% |
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Total Taxes/Other Revenues |
$ 1,397,825 |
$ 1,451,619 |
$ 53,794 |
3.8% |
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Year-To-Date |
$ |
% |
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GENERAL FUND |
FY 2004 |
FY 2005 |
Change |
Change |
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Tax Revenues: |
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|
Income Tax - Individual |
$ 6,232,722 |
$ 6,589,058 |
$ 356,336 |
5.7% |
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Sales and Use Tax - General |
$ 4,444,225 |
$ 4,829,892 |
$ 385,667 |
8.7% |
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Motor Fuel Taxes: |
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Prepaid Motor Fuel SalesTax |
$ 211,152 |
$ 298,505 |
$ 87,353 |
41.4% |
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Motor Fuel Excise Tax |
$ 485,991 |
$ 420,595 |
$ (65,396) |
-13.5% |
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Total Motor Fuel Taxes |
$ 697,143 |
$ 719,100 |
$ 21,957 |
3.1% |
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Income Tax - Corporate |
$ 400,080 |
$ 556,755 |
$ 156,675 |
39.2% |
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Tobacco Taxes |
$ 185,301 |
$ 212,666 |
$ 27,365 |
14.8% |
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Alcohol Beverages Tax |
$ 131,879 |
$ 129,599 |
$ (2,280) |
-1.7% |
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Estate Tax |
$ 52,940 |
$ 37,048 |
$ (15,892) |
-30.0% |
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Property Tax |
$ 61,871 |
$ 64,572 |
$ 2,701 |
4.4% |
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Total Tax Revenues |
$ 12,206,161 |
$ 13,138,690 |
$ 932,529 |
7.6% |
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Other Revenues: |
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Other Fees and Sales |
$ 75,295 |
$ 109,384 |
$ 34,089 |
45.3% |
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Total Taxes/Other Revenues |
$ 12,281,456 |
$ 13,248,074 |
$ 966,618 |
7.9% |
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Notes:
1. Totals do not include Motor Vehicle License Tax, Insurance Premium Tax, Peace Officers' and Prosecutors Training Fund fees and State Children's Trust fund.
2. Other Fees and Sales include taxes and fees that have been deposited in the bank, but the returns have not been processed. It also includes unclaimed property collections.
3. FY 2004 December numbers were adjusted in the following manner:
- $84K was excluded from Other Fees and Sales because the Department no longer collects State Childrens' Trust funds.
- $2M in Peace Officer's Training and Procesecutor's Fund collections are excluded as the Department no longer collects these fees.