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The State of Georgia\u2019s net tax collections in April totaled $3.96 billion, for a decrease of $225.7 million or 5.4 percent compared to FY 2023, when net tax collections approached $4.19 billion for the month.<\/strong> \t\t\t\t\t\t\t\t\t\t\t
\nYear-to-date, net tax revenue totaled $27.45 billion, for a decrease of $341.3 million or 1.2 percent compared to the same ten-month period in FY 2023, a period during which the state\u2019s motor fuel excise tax was suspended until January 10, 2023. Net of motor fuel tax changes,\u00a0collection revenues for the ten months ended April 30 were down 4.6 percent<\/strong>\u00a0from fiscal year 2023.
\nThe changes within the following tax categories help to further explain April\u2019s overall net tax revenue\u00a0decrease<\/strong>:
\nIndividual Income Tax<\/strong>: Individual Income Tax collections totaled roughly $1.97 billion, for a decrease of\u00a0$171.3 million<\/strong>\u00a0or 8 percent compared to last year when Individual Tax collections totaled nearly $2.14 billion.
\nThe following notable components within Individual Income Tax combine for the net\u00a0decrease<\/strong>:
\n\u2022 Individual Income Tax refunds issued (net of voided checks) were up $195.3 million or 31.4 percent
\u2022 Individual Withholding payments were up $60.1 million or 4.8 percent over the previous fiscal year
\u2022 Individual Income Tax Return payments declined by $142.1 million or 11.5 percent from last year
\u2022 All other Individual Tax categories, including Estimated payments, were up a combined $106 million
\nSales and Use Tax<\/strong>: Gross Sales and Use Tax collections totaled almost $1.58 billion in April, for a decrease of $6.2 million or 0.4 percent compared to April 2023. Net Sales and Use Tax decreased by\u00a0$24.6 million<\/strong>\u00a0or 3 percent, compared to last year, when net sales tax totaled $823.4 million. The adjusted Sales Tax distribution to local governments totaled $765 million, for an increase of $8.6 million or 1.1 percent, while Sales Tax refunds increased by roughly $9.8 million or 179.6 percent compared to FY 2023.
\nCorporate Income Tax<\/strong>: Corporate Income Tax collections for the month totaled $748.1 million, which was an increase of roughly\u00a0$3.7 million<\/strong>\u00a0or 0.5 percent compared to FY 2023.
\nThe following notable components within Corporate Income Tax make up the net\u00a0increase<\/strong>:
\n\u2022 Corporate Income Tax refunds issued (net of voids) were down $18.5 million or 32.9 percent from FY 2023
\u2022 Corporate Income Tax Return payments decreased by $17.4 million or 5.7 percent from last fiscal year
\u2022 All other Corporate Tax types, including Corporate Estimated payments, were up a combined $2.6 million
\nMotor Fuel Taxes<\/strong>: Motor Fuel Tax collections for the month of April increased by\u00a0$3.1 million<\/strong>\u00a0or 1.6 percent compared to FY 2023.
\nMotor Vehicle \u2013 Tag & Title Fees<\/strong>: Motor Vehicle Tag & Title Fees increased by\u00a0$3.2 million<\/strong>\u00a0or 9.3 percent for the month, while Title Ad Valorem Tax (TAVT) collections declined by nearly\u00a0$6.2 million<\/strong>\u00a0or 7.8 percent from last year.<\/p>\n