Skip to content
Join our Newsletter

State tax revenues declined in October

Georgia's tax collections for October dropped by 3.4% year-over-year, totaling $2.53 billion, with declines in individual income, corporate taxes, and net sales tax receipts, partly due to the extension of tax deadlines following Hurricane Helene.
georgia-state-senate1
Georgia State Senate

Georgia tax collections fell by 3.4% last month compared to October of last year.

The state Department of Revenue brought in $2.53 billion last month, down $89.7 million from the same month a year ago.

The decline was due in part to an extension of the state income tax and filing deadline announced Oct. 3 because of disruptions caused by Hurricane Helene. Return and payment deadlines for both individual and corporate income taxes from that date through next April have been extended until May 1.

Individual income tax revenue declined by 8.7% in October, mostly due to a sharp drop in tax return payments of 36.5%.

Net sales tax receipts also were down, but only by 1%.

Corporate income taxes fell last month by 47.4%, with payments down and refunds up.