Georgia Governor Sonny Perdue - Governor Perdue Announces July Revenue Figures

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Governor Perdue Announces July Revenue Figures

Monday, August 8, 2005

Contact: Office of Communications 404-651-7774

ATLANTA – Governor Sonny Perdue announced today that net revenue collections for the month of July 2005 (FY06) totaled $1,093,198,000 compared to $923,170,000 for July 2004 (FY05), an increase of $170,028,000 or 18.4%. July is the first month of the new fiscal year.

There were two additional deposit days in July 2005 compared to July 2004. Using the same number of deposit days as July 2004, the net revenue increase would have been $49,000,000 or 5.3% for July 2005.

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	GEORGIA DEPARTMENT OF REVENUE
	Comparative Net Revenue Collections (unaudited - 000's)

			For the Month Ended
		GENERAL FUND	July 2004 (FY 2005)	July 2005 (FY 2006)	$ Change	% Change
Tax Revenues:
	Income Tax - Individual		$419,597	$501,685	$82,088	19.6%
	Sales and Use Tax - General:
		Sales and Use Tax - Gross	$682,418	$814,422	$132,004	19.3%
		Local Sales Tax Distribution	$(292,456)	$(337,171)	$(44,715)	15.3%
		Sales Tax Refunds/Adjustments	$(5,909)	$(19,698)	$(13,789)	233.4%
	Net Sales and Use Tax - General		$384,053	$457,553	$73,500	19.1%
	Motor Fuel Taxes:
		Prepaid Motor Fuel Sales Tax	$17,658	$28,477	$10,819	61.3%
		Motor Fuel Excise Tax	$40,173	$40,051	$(122)	-0.3%
	Total Motor Fuel Taxes		$57,831	$68,528	$10,697	18.5%
	Income Tax - Corporate		$10,926	$20,602	$9,676	88.6%
	Tobacco Taxes		$9,940	$8,840	$(1,100)	-11.1%
	Alcohol Beverages Tax		$12,922	$12,722	$(200)	-1.5%
	Estate Tax		$4,618	$611	$(4,007)	-86.8%
	Property Tax		$1,204	$792	$(412)	-34.2%
	Motor Vehicle - Tag, Title & Fees		$20,977	$20,059	$(918)	-4.4%
Total Tax Revenues			$922,068	$1,091,392	$169,324	18.4%
Other Revenues:
	Other Fees and Sales		$1,102	$1,806	$704	-63.9%
Total Taxes/Other Revenues			$923,170	$1,093,198	$170,028	18.4%

			Year-To-Date		$	%
		GENERAL FUND	FY 2005	FY 2006	Change	Change
Tax Revenues:
	Income Tax - Individual		$419,597	$501,685	$82,088	19.6%
	Sales and Use Tax - General:
		Sales and Use Tax - Gross	$682,418	$814,422	$132,004	19.3%
		Local Sales Tax Distribution	$(292,456)	$(337,171)	$(44,715)	15.3%
		Sales Tax Refunds/Adjustments	$(5,909)	$(19,698)	$(13,789)	233.4%
	Net Sales and Use Tax - General		$384,053	$457,553	$73,500	19.1%
	Motor Fuel Taxes:
		Prepaid Motor Fuel Sales Tax	$17,658	$28,477	$10,819	61.3%
		Motor Fuel Excise Tax	$40,173	$40,051	$(122)	-0.3%
	Total Motor Fuel Taxes		$57,831	$68,528	$10,697	18.5%
	Income Tax - Corporate		$10,926	$20,602	$9,676	88.6%
	Tobacco Taxes		$9,940	$8,840	$(1,100)	-11.1%
	Alcohol Beverages Tax		$12,922	$12,722	$(200)	-1.5%
	Estate Tax		$4,618	$611	$(4,007)	-86.8%
	Property Tax		$1,204	$792	$(412)	-34.2%
	Motor Vehicle - Tag, Title & Fees		$20,977	$20,059	$(918)	-4.4%
Total Tax Revenues			$922,068	$1,091,392	$169,324	18.4%
Other Revenues:
	Other Fees and Sales		$1,102	$1,806	$704	63.9%
Total Taxes/Other Revenues			$923,170	$1,093,198	$170,028	18.4%

Footnotes:

1. For press release purposes only, DOR realigned the reporting of Sales and Use Tax as reported above. In July 2004, the Local distributions now reflect the distribution for the month the collection occurred. For the current month, the distribution was determined using a weighted average % of the current month collections.

2. As of July 1, 2005, DOR began collecting and reporting Motor Vehicle Tags, Title and Fees. These revenues were previously reported by the Department of Motor Vehicle Safety (DMVS). For comparative purposes, DOR will report prior year collections.

3. 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.