Georgia State Tax Revenues for April 2020 Drop 35.9% Compared to April 2019
The State of Georgia’s April 2020 net tax collections totaled nearly $1.84 billion. The collections decreased $1.03 billion (a decrease of 35.9%), compared to April 2019 when net tax collections totaled $2.87 billion.
Year-to-date net tax collections totaled $19.23 billion for a decrease of nearly $680 million, (a decrease of 3.4%), compared to the previous fiscal year (FY) when net tax revenues totaled $19.91 billion.
Changes within the following tax categories for April are largely attributable to the economic impact of the COVID-19 pandemic. In particular, the shifting of payment deadlines related to Motor Vehicle, Corporate Tax, and especially Individual Income Tax have had a profound impact on typical state revenue collection activity, resulting in the dramatic reduction of April and year-to-date FY 2020 tax revenues.
For more information and breakdowns of the tax collections by Individual Income Tax, Sales and Use Tax, Corporate Income Tax, Motor Fuel Taxes, and Motor Vehicle Tag & Title Fees, see the media release from the Governor's Office at https://gov.georgia.gov/press-releases/2020-05-06/april-tax-revenues-fall-359.