Georgia Governor Sonny Perdue - Governor Perdue Announces November Revenue Collections

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Governor Perdue Announces November Revenue Collections

Friday, December 5, 2003

Contact: Office of Communications 404-651-7774

Atlanta - Governor Sonny Perdue announced today that net revenue collections for the month of November 2003 (FY04) totaled $1,085,952,000 compared to $1,051,510,000 for November 2002 (FY03), an increase of $34,442,000 or 3.3%. The percentage increase year-to-date for FY04 compared to FY03 is 4.4%.

"Four months of increasing revenue is positive news for our state, but we still face a very tight budget that presents significant challenges," said Governor Sonny Perdue. "Our stewardship of the budget must remain conservative, strategic, and priority based. I am committed to a balanced budget without any tax increases for the people of Georgia."

Governor Perdue is participating in ongoing meetings with the Governor's Office of Planning and Budget developing his FY05 budget recommendations. The following graph is the revenue report from the Georgia Department of Revenue for November 2003.

Georgia Department of Revenue
Comparative Net Revenue Collections
( unaudited - 000's)

	For the Month Ended
GENERAL FUND	November 2002 (FY2003)	November 2003 (FY2004)	$ Change	% Change
Sales Tax - General	405,093	370,682	(34,411)	-8.5%
Motor Fuel - Gal. & Sales	42,470	45,296	2,826	6.7%
Income Tax - Individual	552,289	594,472	42,183	7.6%
Income Tax - Corporate	(14,605)	(10,594)	4,011	27.5%
Tobacco Taxes	4,330	16,817	12,487	288.4%
Alcoholic Beverage Taxes	20,468	14,308	(6,160)	-30.1%
Estate Tax	6,371	2,347	(4,024)	-63.2%
Property Tax	6,973	14,635	7,662	109.9%
Total Taxes	1,023,389	1,047,963	24,574	2.4%
Other Revenues:
Peace Officer Training	1,627	1,702	75	4.6%
Other Fees and Sales	26,494	36,287	9,793	37.0%
Total Regulatory Fees & Sales	28,121	37,989	9,868	35.1%

Net Revenue	1,051,510	1,085,952	34,442	3.3%

	Year-to-date		$	%
GENERAL FUND	FY 2003	FY 2004	Change	Change
Sales Tax - General	1,926,171	2,016,830	90,659	4.7%
Motor Fuel Tax - Gals. & Sales	193,484	203,055	9,571	4.9%
Income Tax - Individual	2,629,084	2,707,530	78,446	3.0%
Income Tax - Corporate	87,279	65,298	(21,981)	-25.2%
Tobacco Taxes	25,964	69,471	43,507	167.6%
Alcoholic Beverage Taxes	55,730	59,839	4,109	7.4%
Estate Tax	37,425	18,360	(19,065)	-50.9%
Property Tax	17,679	26,388	8,709	49.3%
Total Taxes	4,972,816	5,166,771	193,955	3.9%
Other Revenues:
Peace Officer Training	8,642	8,681	39	0.5%
Other Fees and Sales	22,883	48,595	25,712	112.4%
Total Regulatory Fees & Sales	31,525	57,276	25,751	81.7%

Net Revenue	5,004,341	5,224,047	219,706	4.4%

Notes:
1. FY 2004 comparative report has changed. Current year totals are reported on the right of prior year.
2. Totals do not include Insurance Premium Tax and Fees and Motor Vehicle License Taxes.
3. Major tax categories are reported. Other taxes and fees are included in "Other Fees and Sales".
4. Other Fees and Sales include taxes that have been deposited in the bank, but the returns have not been processed.
It also includes unclaimed property and children's trust fund.
5. 2nd Motor Fuel taxes were $21.4M and $17.5M in November 2003 and 2002, respectively.