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Governor Perdue Announces October Revenue Figures

Monday, November 7, 2005  Contact: Office of Communications 404-651-7774

 

ATLANTA – Governor Sonny Perdue announced today that net revenue collections for the month of October 2005 (FY06) totaled $1,304,776,000 compared to $1,181,617,000 for October 2004 (FY05), an increase of $123,159,000 or 10.4 percent.    

The percentage increase year-to-date for FY06 compared to FY05 is 9.4 percent. 

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GEORGIA DEPARTMENT OF REVENUE

Comparative Net Revenue Collections (unaudited - 000's)

 For the Month Ended

GENERAL FUND

 October 2004 (FY 2005)

 October 2005    (FY 2006)

 $   Change

%   Change

Tax Revenues:

Income Tax - Individual

$576,379

$665,770

$89,391

15.5%

Sales and Use Tax – General:

Sales and Use Tax - Gross

$746,263

$847,105

$100,842

13.5%

Local Sales Tax Distribution

$(308,873)

$(388,404)

$(79,531)

-25.7%

Sales Tax Refunds/Adjustments

$(6,085)

$(5,951)

$134

2.2%

Net Sales and Use Tax - General

$431,305

$452,750

$21,445

5.0%

Motor Fuel Taxes:

Prepaid Motor Fuel Sales Tax

$25,219

$3,364

$(21,855)

-86.7%

Motor Fuel Excise Tax                                         

$37,974

$3,307

$(34,667)

-91.3%

Total Motor Fuel Taxes

$63,193

$6,671

$(56,522)

-89.4%

Income Tax - Corporate

$28,023

$85,780

$57,757

206.1%

Tobacco Taxes

$21,729

$18,824

$(2,905)

-13.4%

Alcohol Beverages Tax

$10,959

$20,869

$9,910

90.4%

Estate Tax

$4,891

$2,535

$(2,356)

-48.2%

Property Tax

$6,080

$4,699

$(1,381)

-22.7%

Motor Vehicle - Tag, Title & Fees

$23,033

$23,449

$416

1.8%

Total Tax Revenues

$1,165,592

$1,281,347

$115,755

9.9%

Other Revenues:

   Other Fees and Sales

$16,025

$23,429

$7,404

46.2%

Total Taxes/Other Revenues

$1,181,617

$1,304,776

$123,159

10.4%

Year-to-date

$

%

GENERAL FUND

FY 2005

FY 2006

Change

Change

Tax Revenues:

Income Tax - Individual

$2,316,838

$2,537,129

$220,291

9.5%

Sales and Use Tax - General:

Sales and Use Tax - Gross

$2,956,955

$3,281,706

$324,751

11.0%

Local Sales Tax Distribution

$(1,225,761)

$(1,384,876)

$(159,115)

-13.0%

Sales Tax Refunds/Adjustments

$(20,635)

$(38,014)

$(17,379)

-84.2%

Net Sales and Use Tax - General

$1,710,559

$1,858,816

$148,257

8.7%

Motor Fuel Taxes:

Prepaid Motor Fuel SalesTax

$87,834

$99,523

$11,689

13.3%

Motor Fuel Excise Tax

$164,664

$124,934

$(39,730)

-24.1%

     Total Motor Fuel Taxes

$252,498

$224,457

$(28,041)

-11.1%

Income Tax - Corporate

$149,812

$265,882

$116,070

77.5%

Tobacco Taxes

$73,382

$70,137

$(3,245)

-4.4%

Alcohol Beverages Tax

$49,469

$50,797

$1,328

2.7%

Estate Tax

$21,686

$8,791

$(12,895)

-59.5%

Property Tax

$13,907

$9,805

$(4,102)

-29.5%

Motor Vehicle - Tag, Title & Fees

$91,420

$95,805

$4,385

4.8%

Total Tax Revenues

$4,679,571

$5,121,619

$442,048

9.4%

Other Revenues:

   Other Fees and Sales

$31,418

$34,232

$2,814

9.0%

Total Taxes/Other Revenues

$4,710,989

$5,155,851

$444,862

9.4%

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.