by T.A. DeFeo

 

Georgia continues to see its revenues increase amid ongoing economic concerns nationwide.

State officials said Friday that the Peach State’s September net tax collections totaled nearly $3.1 billion. That represents an increase of 9.9% over a year ago.

September’s collections were $279.2 million more than September 2021. Fiscal 2023 collections of roughly $7.62 billion are 7.2% or $513.8 million higher than at the same point in fiscal 2022.

Individual income tax collections for September exceeded $1.5 billion, an increase of 9.2% or $130.2 million over last September when individual income tax revenues exceeded $1.4 billion.

Gross sales and use tax collections increased 14.3% or $184.9 million to more than $1.4 billion. Net sales and use tax increased by 14.6% or $95.4 million to $749.2 million.

In a sign that travel is returning, Georgia saw its hotel and motel fees increase by 9.7% in September, increasing $1.4 million to more than $16.1 million. In fiscal 2023, hotel and motel fees have increased by 9.4% over the same point in fiscal 2022.

Unsurprisingly, motor fuel tax collections are down by nearly $180.8 million from a year ago. This week, Gov. Brian Kemp, a Republican, signed an extension of the suspension of the state’s collection of taxes on motor and locomotive fuel.

The suspension is effective through Nov. 11, shortly after the election.

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T.A. DeFeo is a contributor to The Center Square. 
Photo “Georgia State Capitol” by Library of Congress.