Governor Perdue Announces January Revenue Figures
| Friday, February 4, 2005 |
Contact: Office of Communications 404-651-7774
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ATLANTA, GA – Governor Sonny Perdue announced today that net revenue collections for the month of January 2005 (FY05) totaled $1,578,151,000 compared to $1,464,844,000 for January 2004 (FY04). This represents an increase of $113,307,000 (7.7%) over the previous year.
The percentage increase year-to-date for FY05 compared to FY04 is 11.9%. There have been five additional deposit days in FY05 compared to FY04.
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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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GENERAL FUND |
January 2004 |
January 2005 |
$ Change |
% Change |
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Tax Revenues: |
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Income Tax - Individual |
$883,117 |
$827,108 |
$(56,009) |
-6.3% |
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Sales and Use Tax - General |
$471,166 |
$551,340 |
$80,174 |
17.0% |
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Motor Fuel Taxes: |
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Prepaid Motor Fuel Sales Tax |
$19,521 |
$28,127 |
$8,606 |
44.1% |
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Motor Fuel Excise Tax |
$39,694 |
$41,703 |
$2,009 |
5.1% |
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Total Motor Fuel Taxes |
$59,215 |
$69,830 |
$10,615 |
17.9% |
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Income Tax - Corporate |
$7,362 |
$31,999 |
$24,637 |
334.7% |
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Tobacco Taxes |
$17,226 |
$18,881 |
$1,655 |
9.6% |
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Alcohol Beverages Tax |
$17,167 |
$14,066 |
$(3,101) |
-18.1% |
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Estate Tax |
$3,677 |
$3,287 |
$(390) |
-10.6% |
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Property Tax |
$8,497 |
$12,281 |
$3,784 |
44.5% |
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Total Tax Revenues |
$1,467,427 |
$1,528,792 |
$61,365 |
4.2% |
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Other Revenues: |
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Other Fees and Sales |
$(2,583) |
$49,359 |
$51,942 |
2010.9% |
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Total Taxes/Other Revenues |
$1,464,844 |
$1,578,151 |
$113,307 |
7.7% |
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Year-To-Date |
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GENERAL FUND |
FY 2004 |
FY 2005 |
$ Change |
% Change |
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Tax Revenues: |
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Income Tax - Individual |
$4,145,966 |
$4,483,315 |
$337,349 |
8.1% |
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Sales and Use Tax - General |
$2,757,543 |
$3,045,719 |
$288,176 |
10.5% |
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Motor Fuel Taxes: |
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Prepaid Motor Fuel Sales Tax |
$136,611 |
$186,314 |
$49,703 |
36.4% |
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Motor Fuel Excise Tax |
$280,338 |
$272,450 |
$(7,888) |
-2.8% |
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Total Motor Fuel Taxes |
$416,949 |
$458,764 |
$41,815 |
10.0% |
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Income Tax - Corporate |
$144,353 |
$288,421 |
$144,068 |
99.8% |
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Tobacco Taxes |
$107,699 |
$132,629 |
$24,930 |
23.1% |
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Alcohol Beverages Tax |
$86,759 |
$86,219 |
$(540) |
-0.6% |
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Estate Tax |
$29,029 |
$29,897 |
$868 |
3.0% |
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Property Tax |
$47,534 |
$56,927 |
$9,393 |
19.8% |
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Total Tax Revenues |
$7,735,832 |
$8,581,891 |
$846,059 |
10.9% |
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Other Revenues: |
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Other Fees and Sales |
$48,498 |
$128,102 |
$79,604 |
164.1% |
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Total Taxes/Other Revenues |
$7,784,330 |
$8,709,993 |
$925,663 |
11.9% |
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Notes:
- Totals do not include Motor Vehicle License Tax, Insurance Premium Tax, Peace Officers' and Prosecutors Training Fund fees and State Children's Trust fund
- 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 December 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.
- $18M was reclassed from Sales and Use Tax in December 2003 and reported as Prepaid Motor Fuel Sales Tax.
- $84K was excluded from Other Fees and Sales because the Department no longer collects State Childrens' Trust funds.
- $2M in Peace Officer's Training and Prosecutor's Fund collections are excluded as the Department no longer collects these fees.
- 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.