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Governor Perdue Announces January Revenue Figures
| Monday, February 6, 2006 |
Contact: Office of Communications 404-651-777
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Governor Perdue Announces January Revenue Figures
ATLANTA- Governor Sonny Perdue announced today that net revenue collections for the month of January 2006 (FY06) totaled $1,795,724,000 compared to $1,555,050,000 for January 2005 (FY05), an increase of $240,674,000 or 15.5 percent.
The percentage increase year-to-date for FY06 compared to FY05 is 9.5 percent.
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GEORGIA DEPARTMENT OF REVENUE |
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Comparative Net Revenue Collections (unaudited - 000's) |
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For the Month Ended |
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January 2005 (FY 2005) |
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January 2006 (FY 2006) |
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$ Change |
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% Change |
Tax Revenues: |
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Income Tax - Individual |
$827,108 |
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$1,022,465 |
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$195,357 |
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23.6% |
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Sales and Use Tax - General: |
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Sales and Use Tax - Gross |
$850,123 |
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$1,004,236 |
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$154,113 |
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18.1% |
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Local Sales Tax Distribution |
$(337,979) |
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$(402,475) |
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$(64,496) |
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-19.1% |
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Sales Tax Refunds/Adjustments |
$(13,814) |
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$(4,043) |
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$9,771 |
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70.7% |
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Net Sales and Use Tax - General |
$498,330 |
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$597,718 |
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$99,388 |
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19.9% |
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Motor Fuel Taxes: |
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Prepaid Motor Fuel Sales Tax |
$28,127 |
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$42,980 |
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$14,853 |
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52.8% |
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Motor Fuel Excise Tax |
$41,703 |
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$44,083 |
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$2,380 |
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5.7% |
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Total Motor Fuel Taxes |
$69,830 |
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$87,063 |
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$17,233 |
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24.7% |
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Income Tax - Corporate |
$31,999 |
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$17,845 |
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$(14,154) |
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-44.2% |
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Tobacco Taxes |
$18,881 |
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$20,507 |
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$1,626 |
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8.6% |
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Alcohol Beverages Tax |
$14,066 |
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$10,520 |
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$(3,546) |
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-25.2% |
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Estate Tax |
$3,287 |
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$324 |
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$(2,963) |
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-90.1% |
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Property Tax |
$12,281 |
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$14,380 |
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$2,099 |
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17.1% |
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Motor Vehicle - Tag, Title & Fees |
$29,909 |
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$30,929 |
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$1,020 |
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3.4% |
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Total Tax Revenues |
$1,505,691 |
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$1,801,751 |
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$296,060 |
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19.7% |
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Other Revenues: |
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Other Fees and Sales |
$49,359 |
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$(6,027) |
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$(55,386) |
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-112.2% |
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Total Taxes/Other Revenues |
$1,555,050 |
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$1,795,724 |
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$240,674 |
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15.5% |
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Year-to-date |
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$ |
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% |
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GENERAL FUND |
FY 2005 |
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FY 2006 |
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Change |
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Change |
Tax Revenues: |
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Income Tax - Individual |
$4,483,314 |
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$4,950,215 |
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$466,901 |
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10.4% |
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Sales and Use Tax - General: |
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Sales and Use Tax - Gross |
$5,241,689 |
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$5,888,540 |
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$646,851 |
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12.3% |
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Local Sales Tax Distribution |
$(2,143,474) |
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$(2,444,181) |
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$(300,707) |
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-14.0% |
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Sales Tax Refunds/Adjustments |
$(67,372) |
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$(54,508) |
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$12,864 |
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19.1% |
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Net Sales and Use Tax - General |
$3,030,843 |
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$3,389,851 |
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$359,008 |
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11.8% |
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Motor Fuel Taxes: |
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Prepaid Motor Fuel Sales Tax |
$170,912 |
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$202,578 |
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$31,666 |
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18.5% |
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Motor Fuel Excise Tax |
$288,077 |
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$241,157 |
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$(46,920) |
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-16.3% |
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Total Motor Fuel Taxes |
$458,989 |
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$443,735 |
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$(15,254) |
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-3.3% |
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Income Tax - Corporate |
$288,418 |
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$382,307 |
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$93,889 |
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32.6% |
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Tobacco Taxes |
$132,629 |
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$129,527 |
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$(3,102) |
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-2.3% |
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Alcohol Beverages Tax |
$86,217 |
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$85,152 |
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$(1,065) |
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-1.2% |
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Estate Tax |
$29,898 |
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$10,074 |
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$(19,824) |
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-66.3% |
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Property Tax |
$56,927 |
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$55,026 |
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$(1,901) |
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-3.3% |
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Motor Vehicle - Tag, Title & Fees |
$163,789 |
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$168,870 |
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$5,081 |
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3.1% |
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Total Tax Revenues |
$8,731,024 |
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$9,614,757 |
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$883,733 |
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10.1% |
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Other Revenues: |
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Other Fees and Sales |
$127,878 |
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$85,304 |
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$(42,574) |
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-33.3% |
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Total Taxes/Other Revenues |
$8,858,902 |
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$9,700,061 |
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$841,159 |
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9.5% |
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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.
 |
employment_graph.pdf |
| **Attached is a graph showing 112,000 jobs created in Georgia since January 2003. |