HomeNewsState tax revenues skewed by deferred 2021 filing deadline for second straight...

State tax revenues skewed by deferred 2021 filing deadline for second straight month

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by Dave Williams | May 9, 2022 | Capitol Beat News Service

ATLANTA – Georgia tax collections skyrocketed in April for the second month in a row, the result of last year’s late tax filing date of May 17, the state Department of Revenue reported Monday.

The agency brought in just more than $5 million last month, up 78.9% over April of last year.

Individual income tax receipts were up 158.7% due to a huge increase in tax payments.

Net sales tax collections rose by a much more modest 12.9%.

Corporate income tax revenues were up 56.9%, as tax payments increased by 75%.

Tax receipts on motor fuels including gasoline fell by 39.5% in April, reflecting Gov. Brian Kemp’s decision to temporarily suspend the tax to help offset rising pump prices. The governor’s executive order suspending the tax is due to expire May 31.

The revenue department said year-over-year tax comparisons will be comparable again after the end of this month.

Even when the temporary spike in tax revenue ends, the state is expected to be sitting on a huge budget surplus that has made spending decisions easier both for Kemp and the General Assembly.

The $30.2 billion fiscal 2023 budget due to take effect July 1 would increase spending by 10.8% over the spending plan lawmakers adopted a year ago. Kemp is expected to sign the budget later this week.

This story is available through a news partnership with Capitol Beat News Service, a project of the Georgia Press Educational Foundation.

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