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Governor Perdue Announces April Revenue Figures

Friday, May 6, 2005  Contact: Office of Communications 404-651-7774

 

ATLANTA – Governor Sonny Perdue announced today that net revenue collections for the month of April 2005 (FY05) totaled $1,270,517,000 compared to $1,308,947,000 for April 2004 (FY04).  This represents a decrease of $38,430,000 (-2.9%) from the previous year.  

The percentage increase year-to-date for FY05 compared to FY04 is 8.4%.  There have been three additional deposit days in FY05 compared to FY04. 

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GEORGIA DEPARTMENT OF REVENUE

Comparative Net Revenue Collections (unaudited - 000's)

 For the Month Ended

GENERAL FUND

 April 2004         (FY 2004)

 April 2005        (FY 2005)

 $   Change

%   Change

Tax Revenues:

Income Tax - Individual

$495,157

$552,050

$56,893

11.5%

Sales and Use Tax - General

$442,594

$451,730

$9,136

2.1%

Motor Fuel Taxes:

   Prepaid Motor Fuel Sales Tax

$11,877

$30,533

$18,656

157.1%

   Motor Fuel Excise Tax                                         

$44,050

$41,373

$(2,677)

-6.1%

     Total Motor Fuel Taxes

$55,927

$71,906

$15,979

28.6%

Income Tax - Corporate

$70,966

$123,035

$52,069

73.4%

Tobacco Taxes

$20,334

$19,835

$(499)

-2.5%

Alcohol Beverages Tax

$11,442

$10,169

$(1,273)

-11.1%

Estate Tax

$5,812

$1,343

$(4,469)

-76.9%

Property Tax

$2,020

$1,164

$(856)

-42.4%

    Total Tax Revenues

$1,104,252

$1,231,232

$126,980

11.5%

Other Revenues:

   Other Fees and Sales

$2,695

$39,285

$36,590

1357.7%

Total Taxes/Other Revenues

$1,106,947

$1,270,517

$163,570

14.8%

With Accelerated Withholding Collections (*)

$202,000

$         -  

$(202,000)

Total Taxes/Other Revenues

$1,308,947

$1,270,517

$(38,430)

-2.9%

Year-To-Date

$

%

FY 2004

FY 2005

Change

Change

Tax Revenues:

Income Tax - Individual

$5,235,739

$5,750,313

$514,574

9.8%

Sales and Use Tax - General

$3,993,215

$4,345,079

$351,864

8.8%

Motor Fuel Taxes:

   Prepaid Motor Fuel Sales Tax

$193,658

$269,146

$75,488

39.0%

   Motor Fuel Excise Tax

$431,370

$381,060

$(50,310)

-11.7%

     Total Motor Fuel Taxes

$625,028

$650,206

$25,178

4.0%

Income Tax - Corporate

$375,196

$528,724

$153,528

40.9%

Tobacco Taxes

$164,860

$192,546

$27,686

16.8%

Alcohol Beverages Tax

$117,422

$120,378

$2,956

2.5%

Estate Tax

$47,140

$35,609

$(11,531)

-24.5%

Property Tax

$60,510

$63,525

$3,015

5.0%

  Total Tax Revenues

$10,619,110

$11,686,380

 1,067,270

10.1%

Other Revenues:

   Other Fees and Sales

$62,558

$110,076

$47,518

76.0%

Total Taxes/Other Revenues

$10,681,668

$11,796,456

$1,114,788

10.4%

With Accelerated Withholding Collections  (*)

$202,000

$       -  

$202,000

Total Taxes/Other Revenues

$10,883,668

$11,796,456

$912,788

8.4%

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 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.