Georgia Governor Sonny Perdue - Governor Perdue Announces February Revenue Figures

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Governor Perdue Announces February Revenue Figures

Monday, March 6, 2006

Contact: Office of Communications 404-651-7774

Governor Perdue Announces February Revenue Figures

ATLANTA – Governor Sonny Perdue announced today that net revenue collections for the month of February 2006 (FY06) totaled $886,113,000 compared to $771,545,000 for February 2005 (FY05), an increase of $114,568,000 or 14.8 percent.

The percentage increase year-to-date for FY06 compared to FY05 is 9.9 percent.

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

			For the Month Ended
		`	February 2005 (FY 2005)	February 2006 (FY 2006)	$ Change	% Change
Tax Revenues:
	Income Tax - Individual		$294,043	$244,798	$(49,245)	-16.7%
	Sales and Use Tax - General:
		Sales and Use Tax - Gross	$731,264	$779,038	$47,774	6.5%
		Local Sales Tax Distribution	$(297,310)	$(292,987)	$4,323	1.5%
		Sales Tax Refunds/Adjustments	$(3,825)	$(12,295)	$(8,470)	-221.4%
	Net Sales and Use Tax - General		$430,129	$473,756	$43,627	10.1%
	Motor Fuel Taxes:
		Prepaid Motor Fuel Sales Tax	$25,267	$31,386	$6,119	24.2%
		Motor Fuel Excise Tax	$32,786	$37,958	$5,172	15.8%
	Total Motor Fuel Taxes		$58,053	$69,344	$11,291	19.4%
	Income Tax - Corporate		$(9,715)	$22,817	$32,532	334.9%
	Tobacco Taxes		$19,146	$18,811	$(335)	-1.7%
	Alcohol Beverages Tax		$8,137	$16,140	$8,003	98.4%
	Estate Tax		$2,965	$12	$(2,953)	-99.6%
	Property Tax		$3,175	$9,734	$6,559	206.6%
	Motor Vehicle - Tag, Title & Fees		$25,036	$32,938	$7,902	31.6%
Total Tax Revenues			$830,969	$888,350	$57,381	6.9%
Other Revenues:
	Other Fees and Sales		$(59,424)	$(2,237)	$57,187	96.2%
Total Taxes/Other Revenues			$771,545	$886,113	$114,568	14.8%

			Year-to-date		$	%
		GENERAL FUND	FY 2005	FY 2006	Change	Change
Tax Revenues:
	Income Tax - Individual		$4,777,358	$5,195,013	$417,655	8.7%
	Sales and Use Tax - General:
		Sales and Use Tax - Gross	$5,972,953	$6,667,578	$694,625	11.6%
		Local Sales Tax Distribution	$(2,440,785)	$(2,737,168)	$(296,383)	-12.1%
		Sales Tax Refunds/Adjustments	$(71,197)	$(66,803)	$4,394	6.2%
	Net Sales and Use Tax - General		$3,460,971	$3,863,607	$402,636	11.6%
	Motor Fuel Taxes:
		Prepaid Motor Fuel Sales Tax	$196,178	$233,964	$37,786	19.3%
		Motor Fuel Excise Tax	$320,864	$279,115	$(41,749)	-13.0%
	Total Motor Fuel Taxes		$517,042	$513,079	$(3,963)	-0.8%
	Income Tax - Corporate		$278,703	$405,124	$126,421	45.4%
	Tobacco Taxes		$151,775	$148,338	$(3,437)	-2.3%
	Alcohol Beverages Tax		$94,354	$101,292	$6,938	7.4%
	Estate Tax		$32,863	$10,086	$(22,777)	-69.3%
	Property Tax		$60,102	$64,760	$4,658	7.8%
	Motor Vehicle - Tag, Title & Fees		$188,825	$201,808	$12,983	6.9%
Total Tax Revenues			$9,561,993	$10,503,107	$941,114	9.8%
Other Revenues:
	Other Fees and Sales		$68,454	$83,067	$14,613	21.3%
Total Taxes/Other Revenues			$9,630,447	$10,586,174	$955,727	9.9%

Footnotes:

1. For press release purposes only, DOR realigned the reporting of Sales and Use Tax as shown above. Beginning this fiscal year, the Local distributions now reflects 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. All preceding month distributions will be adjusted by the over/under estimations.

2. As of July 1, 2005, DOR began collecting and reporting Motor Vehicle Tags, Title and Fees. These revenues were previously reported by the disbanded 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.

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