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Governor Perdue Announces October Revenue Figures

Wednesday, November 8, 2006  Contact: Office of Communications 404-651-7774, Charles Willey, DOR, (404) 417-2106

Governor Perdue Announces October Revenue Figures

 

ATLANTA – Governor Sonny Perdue announced today that net revenue collections for the month of October 2006 (FY07) totaled $1,342,193,000 compared to $1,304,776,000 for October 2005 (FY06), an increase of $37,417,000 or 2.9 percent. 

The percentage increase year-to-date for FY07 compared to FY06 is 5.6 percent. 

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GEORGIA DEPARTMENT OF REVENUE

 

Comparative Net Revenue Collections (unaudited - 000's)

 

 

 

 

 

 

 

 

 

 

 

 

 

 For the Month Ended

 

 

 

 

 

 

 

 October 2005         (FY 2006)

 

 October 2006         (FY 2007)

 

 $   Change

 

%   Change

Tax Revenues:

 

 

 

 

 

 

 

 

Income Tax - Individual

$665,770

 

$702,782

 

$37,012

 

5.6%

 

Sales and Use Tax - General:

 

 

 

 

 

 

 

 

 

Sales and Use Tax - Gross

$847,105

 

$886,684

 

$39,579

 

4.7%

 

 

Local Sales Tax Distribution

$(388,404)

 

$(435,321)

 

$(46,917)

 

-12.1%

 

 

Sales Tax Refunds/Adjustments

$(5,951)

 

$(8,220)

 

$(2,269)

 

-38.1%

 

Net Sales and Use Tax - General

$452,750

 

$443,143

 

$(9,607)

 

-2.1%

 

Motor Fuel Taxes:

 

 

 

 

 

 

 

 

 

Prepaid Motor Fuel Sales Tax

$3,364

 

$49,174

 

$45,810

 

1361.8%

 

 

Motor Fuel Excise Tax                                         

$3,307

 

$48,126

 

$44,819

 

1355.3%

 

Total Motor Fuel Taxes

$6,671

 

$97,300

 

$90,629

 

1358.6%

 

Income Tax - Corporate

$85,780

 

$47,027

 

$(38,753)

 

-45.2%

 

Tobacco Taxes

$18,824

 

$21,201

 

$2,377

 

12.6%

 

Alcohol Beverages Tax

$20,869

 

$12,161

 

$(8,708)

 

-41.7%

 

Estate Tax

$2,535

 

$576

 

$(1,959)

 

-77.3%

 

Property Tax

$4,699

 

$9,607

 

$4,908

 

104.4%

 

Motor Vehicle - Tag, Title & Fees

$23,449

 

$20,223

 

$(3,226)

 

-13.8%

Total Tax Revenues

$1,281,347

 

$1,354,020

 

$72,673

 

5.7%

Other Revenues:

 

 

 

 

 

 

 

 

   Other Fees and Sales

$23,429

 

$(11,827)

 

$(35,256)

 

-150.5%

Total Taxes/Other Revenues

$1,304,776

 

$1,342,193

 

$37,417

 

2.9%

 

 

 

 

 

 

 

 

 

 

 

 

 

Year-to-date

 

$

 

%

 

 

GENERAL FUND

FY 2006

 

FY 2007

 

Change

 

Change

Tax Revenues:

 

 

 

 

 

 

 

 

Income Tax - Individual

$2,537,129

 

$2,740,263

 

$203,134

 

8.0%

 

Sales and Use Tax - General:

 

 

 

 

 

 

 

 

 

Sales and Use Tax - Gross

$3,281,706

 

$3,560,013

 

$278,307

 

8.5%

 

 

Local Sales Tax Distribution

$(1,384,876)

 

$(1,611,803)

 

$(226,927)

 

-16.4%

 

 

Sales Tax Refunds/Adjustments

$(38,014)

 

$(43,468)

 

$(5,454)

 

-14.3%

 

Net Sales and Use Tax - General

$1,858,816

 

$1,904,742

 

$45,926

 

2.5%

 

Motor Fuel Taxes:

 

 

 

 

 

 

 

 

 

Prepaid Motor Fuel Sales Tax

$99,523

 

$164,670

 

$65,147

 

65.5%

 

 

Motor Fuel Excise Tax

$124,934

 

$162,562

 

$37,628

 

30.1%

 

     Total Motor Fuel Taxes

$224,457

 

$327,232

 

$102,775

 

45.8%

 

Income Tax - Corporate

$265,882

 

$194,708

 

$(71,174)

 

-26.8%

 

Tobacco Taxes

$70,137

 

$70,888

 

$751

 

1.1%

 

Alcohol Beverages Tax

$50,797

 

$50,505

 

$(292)

 

-0.6%

 

Estate Tax

$8,791

 

$953

 

$(7,838)

 

-89.2%

 

Property Tax

$9,805

 

$13,432

 

$3,627

 

37.0%

 

Motor Vehicle - Tag, Title & Fees

$95,805

 

$100,103

 

$4,298

 

4.5%

Total Tax Revenues

$5,121,619

 

$5,402,826

 

$281,207

 

5.5%

Other Revenues:

 

 

 

 

 

 

 

 

   Other Fees and Sales

$34,232

 

$40,592

 

$6,360

 

18.6%

Total Taxes/Other Revenues

$5,155,851

 

$5,443,418

 

$287,567

 

5.6%

Footnotes:

1.  For press release purposes only, DOR realigned the reporting of Sales and Use Tax as shown above.  The Local distributions now reflect 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.  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.

Associated Document(s):

pdf file 110806_October_Revenue_Collections.pdf
October Revenue Collections - pdf