(The Center Square) – Net tax collections in Georgia in August were up 7.7 percent compared with August 2019, Gov. Brian Kemp announced Thursday.
Georgia collected nearly $1.89 billion in net tax revenue in August – about $134.5 million more than the $1.75 billion collected in August 2019.
Two months into fiscal year 2021, net tax collections are more than $4 billion, representing a 12.4 percent increase over the first two months of fiscal 2020.
Individual income tax collections increased by $90.2 million – or 10.3 percent – in August compared with August 2019. Individual income tax refunds issued were up $26.7 million – or 38.2 percent – and individual tax return payments increased by about $19.2 million – or 115.9 percent.
Net sales and use tax collection in August went up by $58.1 million – or 10.8 percent – compared with August 2019, when net sales tax collection was about $535.5 million. The adjusted sales tax distribution to local governments decreased by $2.2 million – or 0.4 percent.
In August, corporate income tax collections were nearly $11.4 million, which was a $6.1 million increase from August 2019 – or 115.9 percent.