ATLANTA ~ Georgia's net tax collections for the month of January have shown a slight increase compared to the same period in 2024, according to recent data released by the state. The total net tax revenue for January was just over $3.05 billion, an increase of approximately $2 million or 0.1%.

Year-to-date, net tax revenue collections have reached nearly $19.41 billion, showing a significant increase of $285.1 million compared to last year. This growth can be attributed to the collection of the state's motor fuel excise tax, which was suspended for two and a half months in fiscal year 2024 due to an Executive Order.

However, after adjusting for the changes in motor fuel taxes, net tax revenue collections for the period ending on January 31 were down by $173.1 million or 0.9%.

The increase in net tax revenue for January can be attributed to changes within various tax categories:

Individual Income Tax: Individual income tax collections for January totaled approximately $1.59 billion, showing a decrease of $71.1 million or 4.3% compared to last year's total of nearly $1.67 billion.

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This decrease can be attributed to several factors including a decrease in individual income tax refunds issued (net of voided checks) by $90.6 million or 61.5%, a decrease in income tax withholding payments by $92.6 million or 6.5%, and a decrease in individual income tax estimated payments by $41.9 million or 16.9%. Additionally, all other individual tax categories, including tax return payments, showed a combined decrease of $27.2 million.

Sales and Use Tax: Gross sales and use tax collections for January totaled almost $1.85 billion, showing an increase of $108.6 million or 6.2% compared to last year's total.

Net sales and use tax also showed an increase of $39.6 million or 4.5% compared to last year, with net sales tax totaling $870.9 million. The adjusted sales tax distribution to local governments also showed an increase of $70.8 million, while sales tax refunds declined by $1.7 million.

Corporate Income Tax: Corporate income tax collections for January showed an increase of $16.7 million or 11.6% compared to last year's total of $144.2 million.

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This increase can be attributed to a decrease in corporate income tax refunds issued (net of voids) by $69.7 million or 65.1%, a decrease in corporate income tax estimated payments by $36 million or 25.9%, and a combined decrease of $17 million in all other corporate tax payments, including S-corporation payments.

Motor Fuel Taxes: Motor fuel tax collections for January showed an increase of $13.9 million or 7.7% compared to last year's total of $179.7 million.

Motor Vehicle - Tag, Title & Fees: Motor vehicle tag and title fee collections for January showed a decrease of $3.9 million or 10.1%, while title ad valorem tax (TAVT) collections increased by $6.3 million or 9.5%.

Overall, the state's net tax revenue collections for the month of January have shown a slight increase compared to last year, with notable growth in motor fuel taxes and sales and use taxes offsetting decreases in individual and corporate income taxes as well as motor vehicle fees and taxes.

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