(The Center Square) — Georgia’s internet tax collections proceed to say no, with the state reporting decreased collections for the 3rd consecutive month.
Peach State officers stated May’s just about $2.5 billion in tax collections decreased 7.6% — or $205.7 million — from a 12 months in the past. However, internet tax collections of just about $30.3 billion this fiscal 12 months are 0.2% — or $51.2 million — upper than remaining 12 months.
The state’s 2023 fiscal 12 months ends on June 30.
According to state earnings numbers, person source of revenue tax collections decreased 23.4% — or $387 million — from remaining 12 months. So a ways, in fiscal 2023, person source of revenue tax collections are down about 6.7% from remaining 12 months.
Conversely, company source of revenue tax collections have been up 38.6% — or greater than $30.4 million — in May and 67.4% — or just about $1.4 billion — to this point this fiscal 12 months.
Net gross sales and use tax collections greater 2.2% — $15.7 million — in May. Net gross sales and use tax collections in fiscal 2023 are up 8.8% — or just about $667.2 million from remaining fiscal 12 months.
Georgia officers up to now reported that April’s internet tax collections decreased through 16.5% over a 12 months in the past, whilst internet tax collections for March decreased through 3% from a 12 months in the past.
Georgia’s motor gasoline tax collections are down 59.7% — or greater than $956 million — from remaining 12 months. On March 18, 2022, Gov. Brian Kemp, a Republican, signed House Bill 304 to droop fuel tax collections, a prohibition he prolonged to run thru Jan. 10.
This article First gave the impression in the center square