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Governor Perdue Announces January Revenue Collections

Thursday, February 5, 2004  Contact: Office of Communications 404-651-7774

 

Atlanta - Governor Sonny Perdue announced today that net revenue collections for the month of January 2004 (FY04) totaled $1,466,917,000 compared to $1,367,200,000 for January 2003 (FY03), an increase of $99,717,000 or 7.3%. The percentage increase year-to-date for FY04 compared to FY03 is 4.7%.

Governor Perdue, through OPB Director Tim Connell , has asked all state agencies to institute budget expenditure restrictions. These restrictions include delaying the purchase of office supplies or other consumables, minimizing the filling of staff vacancies, closer monitoring and restriction of travel, and delaying or canceling equipment purchases.

"Our revenue figures for the year are still below where they need to be at this time. We hope to meet our budget projections by carefully managing expenditures," said Thomas D. Hills , Georgia 's Chief Financial Officer.

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Georgia Department of Revenue

Comparative Net Revenue Collections

( unaudited - 000's)

 

 

 

 

 

 

 

 

 

For the Month Ended

 

 

 

 

GENERAL FUND

January 2003 (FY 2003)

 

January 2004 (FY 2004)

 

$ Change

 

% Change

Sales Tax - General

455,818

490,687

34,869

7.6%

Motor Fuel - Gal. & Sales

41,751

39,694

(2,057)

-4.9%

Income Tax - Individual

766,479

883,100

116,621

15.2%

Income Tax - Corporate

17,143

7,361

(9,782)

-57.1%

Tobacco Taxes

4,382

17,226

12,844

293.1%

Alcoholic Beverage Taxes

11,662

17,167

5,505

47.2%

Estate Tax

3,388

3,677

289

8.5%

Property Tax

12,480

8,497

(3,983)

-31.9%

Total Taxes

1,313,103

1,467,409

154,306

11.8%

Other Revenues:

Peace Officer Training

1,815

1,624

(191)

-10.5%

Other Fees and Sales

52,282

(2,116)

(54,398)

-104.0%

Total Regulatory Fees & Sales

54,097

(492)

(54,589)

-100.9%

 

Net Revenue

1,367,200

1,466,917

99,717

7.3%

 

 

Year-to-date

 

$

 

%

GENERAL FUND

FY 2003

 

FY 2004

 

Change

 

Change

Sales Tax - General

2,755,244

2,894,155

138,911

5.0%

Motor Fuel Tax - Gals. & Sales

273,661

280,339

6,678

2.4%

Income Tax - Individual

3,927,969

4,145,846

217,877

5.5%

Income Tax - Corporate

180,427

144,353

(36,074)

-20.0%

Tobacco Taxes

40,993

107,699

66,706

162.7%

Alcoholic Beverage Taxes

74,959

86,759

11,800

15.7%

Estate Tax

51,307

29,029

(22,278)

-43.4%

Property Tax

44,847

47,534

2,687

6.0%

Total Taxes

7,349,407

7,735,714

386,307

5.3%

Other Revenues:

Peace Officer Training

11,730

12,295

565

4.8%

Other Fees and Sales

82,844

49,246

(33,598)

-40.6%

Total Regulatory Fees & Sales

94,574

61,541

(33,033)

-34.9%

 

Net Revenue

7,443,981

7,797,255

353,274

4.7%

Notes:

  1. FY 2004 comparative report has changed. Current year totals are reported on the right of prior year.
  2. Totals do not include Insurance Premium Tax and Fees and Motor Vehicle License Taxes.
  3. Major tax categories are reported. Other taxes and fees are included in "Other Fees and Sales".
  4. 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.
  5. 2nd Motor Fuel taxes were $19.5M and $17.5M in January 2004 and 2003, respectively.
  6. January 2004 reported collections include $371K in taxes collected in prior months but improperly excluded from this report. This amount represents Real Estate Transfer Tax Collections of $179K in October and $192K in December not previously reported on this comparative report.