Georgia: March Net Tax Revenues Up 4.8%

Trending...
ATLANTA ~ Georgia's Net Tax Collections Increase in March

In a recent report released by the State of Georgia, it was revealed that net tax collections for the month of March totaled $2.62 billion, marking an increase of $120.4 million or 4.8% compared to the same period in 2025. This brings the year-to-date net tax revenue collections through three quarters to $24.5 billion, showing a significant increase of $463.6 million or 1.9% compared to March of FY 2025.

The rise in net tax collections can be attributed to changes within various tax categories, as reported by the Georgia Department of Revenue. Individual Income Tax collections for March totaled slightly more than $1.13 billion, showing a slight increase of $3.3 million or 0.3% compared to FY 2025.

Within this category, there were notable components that contributed to the overall increase in individual income tax collections. These include a rise in individual income tax refunds issued (net of voided checks) by $33.1 million or 4.7%, an increase in income tax withholding payments by $19.6 million or 1.2%, and an increase in individual income tax return payments by $8.2 million or 6.7%. Additionally, individual income tax estimated payments saw an increase of $3.3 million or 18.4% over last year, while all other individual tax categories, including non-resident tax payments, increased by a combined total of $5.3 million.

More on Georgia Chron
Sales and Use Tax also saw a significant increase in March with gross sales and use tax collections totaling $1.55 billion, marking an increase of $110.8 million or 7.7% over last year's figures. Net sales and use tax also showed a notable rise at $71.5 million or 10.3%, while the adjusted sales tax distribution to local governments increased by $46.7 million or 6.4%. However, sales tax refunds declined by $7.4 million.

Corporate Income Tax collections also saw a significant increase in March, with a rise of $44.9 million or 13.7% compared to the same period in FY 2025 when net corporate tax revenues totaled $327 million for the month. This increase can be attributed to a decrease in corporate tax refunds issued (net of voided checks) by $8.9 million or 16.3%, an increase in corporate income tax return payments by $12.1 million or 7.9%, and an increase in all other corporate tax payments, including S-Corp return payments, by a combined total of $23.9 million.

More on Georgia Chron
Motor fuel taxes also showed a slight increase of $0.9 million or 0.5% from last year's figures, while motor vehicle tag and title fee collections increased by $0.2 million or 0.5%. However, title ad valorem tax (TAVT) collections decreased by $4 million or 5.8%.

Overall, these increases in net tax collections for the month of March show positive growth for the state of Georgia and its economy as it continues to recover from the effects of the pandemic. With one quarter left in the fiscal year, it will be interesting to see how these numbers continue to fluctuate and what impact they will have on the state's budget and future financial plans.

Filed Under: Government, State
Show All News | Disclaimer | Report Violation

0 Comments

Latest on Georgia Chron