The Official Portal for the State of Georgia

Georgia Governor Sonny Perdue
Georgia Seal


Governor Perdue Announces October Revenue Figures

Thursday, November 4, 2004  Contact: Office of Communications 404-651-7774

 

            ATLANTA, GA – Governor Sonny Perdue announced today that net revenue collections for the month of October 2004 (FY05) totaled $1,153,779,000 compared to $1,094,043,000 for October 2003 (FY04).  This represents an increase of $59,736,000 (5.5%) over the previous year.  

The percentage increase year-to-date for FY05 compared to FY04 is 11.5%.  There have been three additional deposit days in FY05 compared to FY04. 

 

GEORGIA DEPARTMENT OF REVENUE

Comparative Net Revenue Collections (unaudited - 000's)

 

 

 For the Month Ended

 

 

GENERAL FUND

 October 2003         (FY 2004)

 October 2004        (FY 2005)

 $   Change

%   Change

Tax Revenues:

 

 

 

 

Income Tax - Individual

$549,700

$576,379

$26,679

4.9%

Sales and Use Tax - General

$454,405

$426,500

$ (27,905)

-6.1%

Motor Fuel Taxes:

 

 

 

 

   Prepaid Motor Fuel Sales Tax

$21,172

$25,219

$4,047

19.1%

   Motor Fuel Excise Tax

$40,299

$37,974

$(2,325)

-5.8%

     Total Motor Fuel Taxes

$61,471

$63,193

$1,722

2.8%

Income Tax - Corporate

$1,945

$28,023

$26,078

1340.8%

Tobacco Taxes

$19,762

$21,729

$1,967

10.0%

Alcohol Beverages Tax

$8,677

$10,959

$2,282

26.3%

Estate Tax

$4,766

$4,891

$125

2.6%

Property Tax

$4,528

$6,080

$1,552

34.3%

    Total Tax Revenues

$1,105,254

$1,137,754

$32,500

2.9%

Other Revenues:

 

 

 

 

   Other Fees and Sales

$(11,211)

$16,025

$27,236

242.9%

Total Taxes/Other Revenues

$1,094,043

$1,153,779

$59,736

5.5%

 

 

 

 

 

 

 

$

%

GENERAL FUND

FY 2004

FY 2005

Change

Change

Tax Revenues:

 

 

 

 

Income Tax - Individual

$2,113,127

$2,316,839

$203,712

9.6%

Sales and Use Tax - General

$1,568,779

$1,696,330

$127,551

8.1%

Motor Fuel Taxes:

 

 

 

 

   Prepaid Motor Fuel SalesTax

$77,368

$103,237

$25,869

33.4%

   Motor Fuel Excise Tax

$157,758

$148,996

$ (8,762)

-5.6%

     Total Motor Fuel Taxes

$235,126

$252,233

$17,107

7.3%

Income Tax - Corporate

$75,891

$149,813

$73,922

97.4%

Tobacco Taxes

$52,654

$73,381

$20,727

39.4%

Alcohol Beverages Tax

$45,532

$49,470

$3,938

8.6%

Estate Tax

$16,012

$21,685

$5,673

35.4%

Property Tax

$11,753

$13,907

$2,154

18.3%

    Total Tax Revenues

$4,118,874

$4,573,658

$454,784

11.0%

Other Revenues:

 

 

 

 

   Other Fees and Sales

$12,036

$31,685

$19,649

163.3%

Total Taxes/Other Revenues

$4,130,910

$4,605,343

$474,433

11.5%

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 numbers were adjusted in the following manner:                                                                                                       

-  Income Tax - Individual was increase by $16.8M as a result of allocating the accelerated withholding collections evenly throughout 2004.                                                                                                               

- $21M was reclassed from Sales and Use Tax in October 2003 and reported as Prepaid Motor Fuel Sales Tax.- $108K was excluded from Other Fees and Sales because the Department no longer collects State Childrens' Trust funds.                                                                                                         

- For the months of October 2003 and December 2003, $179K and $192K in Other Fees and Sales were reported on the following graph but not on this "Comparative Net Revenue Collections" report.