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Governor Perdue Announces September Revenue Collections

Thursday, October 9, 2003  Contact: Office of Communications 404-651-7774

 

Atlanta - Governor Sonny Perdue announced today that net revenue collections for the month of September 2003 (FY04) totaled $1,240,684,000 compared to $1,109,563,000 for September 2002 (FY03), an increase of $131,121,000. The percentage increase for the month is 11.8%. The percentage increase year-to-date for FY04 compared to FY03 is 4.2%.

"Even though September's revenue collections reflect an increase over the previous fiscal year, it is still very important that we continue to remain cautious and prudent," said Governor Sonny Perdue. "It is way too early to jump to any conclusions about future revenue collections and their potential impact on the budget."

The following graph is the revenue report from the Georgia Department of Revenue for September 2003.

# # #

 

Georgia Department of Revenue
Comparative Net Revenue Collections
For the Period Stated Below
 

Prior FY2003

Current FY2004

Increase /

%

GENERAL FUND

September 2002

September 2003

(Decrease)

Change

Sales Tax - General

315,636

422,738

107,102

33.9%

Motor Fuel - Gal. & Sales

42,708

39,828

(2,881)

-6.7%

Income Tax - Individual

632,316

645,450

13,134

2.1%

Income Tax - Corporate

95,481

83,399

(12,082)

-12.7%

Tobacco Taxes

3,377

20,138

16,762

496.3%

Alcoholic Beverage Taxes

12,960

12,604

(356)

-2.7%

Estate Tax

1,690

3,599

1,910

113.0%

Property Tax

3,444

4,587

1,143

33.2%

Total Taxes

1,107,611

1,232,343

124,732

11.3%

    Other Revenues:

 

 

 

Peace Officer Training

1,952

1,985

33

1.7%

Other Fees and Sales

0

6,355

6,355

N/A

    Total Regulatory Fees & Sales

1,952

8,341

6,389

327.3%

 

 

 

 

 

Net Revenue

1,109,563

1,240,684

131,121

11.8%

 

 

 

 

 

Year-to-date

Year-to-date

Increase /

%

GENERAL FUND

FY 2003

FY 2004

(Decrease)

Change

Sales Tax - General

1,098,367

1,170,571

72,204

6.6%

Motor Fuel Tax - Gals. & Sales

117,150

117,459

309

0.3%

Income Tax - Individual

1,561,951

1,563,375

1,424

0.1%

Income Tax - Corporate

78,873

73,947

(4,926)

-6.2%

Tobacco Taxes

13,906

32,894

18,988

136.5%

Alcoholic Beverage Taxes

25,650

36,855

11,205

43.7%

Estate Tax

19,731

11,247

(8,484)

-43.0%

Property Tax

5,792

7,225

1,433

24.7%

Total Taxes

2,921,418

3,013,573

92,155

3.2%

    Other Revenues:

 

 

 

Peace Officer Training

4,779

5,057

279

5.8%

Other Fees and Sales

(6,535)

23,590

30,125

461.0%

    Total Regulatory Fees & Sales

(1,756)

28,647

30,403

1731.4%

 

 

 

 

Net Revenue

2,919,662

3,042,220

122,558

4.2%

 

Footnotes: 

  1. Totals are reported in "000".
  2. Fy 2004 comparative report has changed.  Current year totals are reported on the right of prior year.
  3. Totals do not include Insurance Premium Tax and Fees and Motor Vehicle License Taxes.
  4. Major tax categories are reported.  Other taxes and fees are included in "Other Fees and Sales". 
  5. Other Fees and Sales include taxes that have been deposited in the bank, but the returns have not been processed.  It also includes unclaimed property, and children's trust fund.
  6. 2nd Motor Fuel taxes were $18M and $17M in September 2003 and 2002, respectively.