Money .jpg

ATLANTA — Georgia tax collections soared 52.4% last month compared to April of last year, a huge increase attributed more to changes in state tax filing deadlines than a burst of economic activity.

Tax revenues rose by $963.7 million in April to more than $2.80 billion, compared to almost $1.84 billion in April 2020.

Due to the coronavirus pandemic, the tax filing deadline last year was delayed from mid-April until mid-July. This year’s deadline falls on May 17.

Individual income taxes were up 43.6% last month compared to April of last year, driven by a 168.1% increase in payments. Tax refunds issued by the Georgia Department of Revenue rose as well but by a more modest 40.4%.

Net sales tax collections last month were up by 44.8% over April 2020.

Corporate income tax revenues skyrocketed by 396.2%, resulting from an increase in payments of 572.9% coupled with a 50% decrease in refunds.

Tax receipts covering the first 10 months of fiscal 2021 offer a more realistic comparison than the April numbers skewed by the delay in filing deadlines. From last July through April, the state brought in $21.74 billion in taxes, up a healthy 13.1% over the first 10 months of the last fiscal year.

Support Local Journalism

Now, more than ever, residents need trustworthy reporting—but good journalism isn’t free. Please support us by purchasing a digital subscription. Your subscription will allow you unlimited access to important local news stories. Our mission is to keep our community informed and we appreciate your support.

0
0
0
0
0

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.