Georgia July Net Tax Revenues Down 2.7%

The State of Georgia’s net tax collections for the first month of FY 2026 totaled $2.49 billion, for a decrease of $70.1 million, or 2.7%, from July 2024 (FY 2025), when net tax collections totaled roughly $2.56 billion, in part reflecting the 20 basis point (3.7%) reduction in individual and corporate tax rates compared to the year-ago period.

The changes within the following tax categories account for July’s overall net tax revenue decrease:

Individual Income Tax: Individual Income Tax collections for the month increased by $8.6 million or 0.7%, from a total of nearly $1.26 billion in July 2024 (FY 2025).

The following notable components within Individual Income Tax combine for the net increase:

• Individual Income Tax refunds issued (net of voided checks) decreased by $7 million or 6.4%
• Income Tax Withholding payments for July declined by $31.6 million, or 2.5%, from FY 2025
• Individual Income Tax Return payments increased by $36.4 million, or 104.2%, over July 2024 (FY ’25)
• All other Individual Income Tax categories, including Estimated payments, were down a combined $3.2 million

Sales and Use Tax: Gross Sales and Use Tax collections in July totaled roughly $1.61 billion, for an increase of $19.3 million, or 1.2%, over FY 2025. Net Sales and Use Tax decreased $12.9 million, or 1.6%, compared to July 2024, when net Sales Tax revenue totaled nearly $809 million. The adjusted Sales Tax distribution to local governments totaled $808.6 million, for an increase of $31.9 million over last year, while Sales Tax refunds increased by $0.3 million, or 3.1%, compared to July FY 2025.

Corporate Income Tax: Corporate Income Tax collections for July totaled $53.7 million, which was a decrease of $70.1 million, or 56.6%, from FY 2025 when net Corporate Tax revenues totaled nearly $123.9 million.

The following notable components within Corporate Income Tax make up the net decrease:

• Corporate Income Tax refunds issued (net of voids) were up $31.4 million over FY 2025
• Corporate Income Tax Estimated payments decreased by $28.2 million, or 39.1%, from July 2024
• All other Corporate Income Tax payments, including Return payments, were down a combined $10.5 million

Motor Fuel Taxes: Motor Fuel Tax collections for the month increased by $3.2 million, or 1.7%, over July 2024, when Motor Fuel tax collections totaled $191.3 million for the month.

Motor Vehicle – Tag & Title Fees: Motor Vehicle Tag & Title Fee collections for July increased by almost $6 million, or 19%, while Title ad Valorem Tax (TAVT) collections increased by nearly $6.6 million, or 9.9%, compared to the previous fiscal year 2025.