ATLANTA – Georgia tax collections rose by 1.8% in October, building on a positive first quarter for the state as businesses affected by the coronavirus pandemic continued to reopen.
While the monthly revenue report for September showed a decline in tax revenues, the first quarter of fiscal 2021 overall reflected a 6.3% increase over July, August and September of last year.
The state brought in $2.02 billion in taxes last month, an increase of $35.2 million over October 2019.
On the other hand, individual income taxes declined 1.2% last month, driven in part by a 6.8% drop in tax return payments.
The reduced individual income tax collections were more than offset by a 6.3% increase in gross sales tax revenues.
Corporate income taxes fell by 28.8% in October. Contributing to the decline were a 67.6% increase in corporate tax refunds issued by the Georgia Department of Revenue and a 48% decline in tax payments to the state.
With more Georgia drivers taking to the highways with the increased reopening of offices, shops and restaurants, the state’s gasoline tax collections increased by $2.6 million over October 2019, or 1.7%.