BRADENTON, Fla. – Gilt-edged Georgia said revenues increase by $37 million or 2.4% in June.
For the fiscal year-ending June 30, total net tax revenue collections were $17 billion for an increase of $951.5 million or 5.9% compared to fiscal 2012 when net tax revenues were $16.05 billion.
Georgia had month-over-month increases in 2013, except for November when collections dipped 0.7% largely because of a 3.6% decline in sales tax revenues that month, according to state officials.
Notable changes in various tax categories last month included an increase in individual income taxes by $10.5 million or 1.4% over June 2012 for total collections of $791.5 million.
Net sales and use tax collections fell to $414.5 million, from $429 million a year earlier. Corporate income taxes for June increased by $2.75 million or 1.8% over the previous year.
Motor vehicle fees for June totaled $87 million, which was $58 million higher than in June 2012.
The large year-over-year increase in motor vehicle fees is the result of new tax legislation that went into effect March 1 establishing a new structure that replaced the auto sales tax that was traditionally assessed on the purchase of a car.
As a result of the legislation, gross sales tax collections were reduced while motor vehicle fees increased an average of $47 million a month since the filing of March tax returns began in mid-April, state officials said.