Georgia Tax Collections Continued To Climb In July Despite Economic Downturn

By T.A. DeFeo | The Center Square contributor, The Center Square Georgia

August 9, 2022

(The Center Square) — Georgia continues to see higher net tax collections, as general fund receipts totaled more than $2.2 billion during July, the first month of fiscal 2023.

The collections represent a 2.5%, or $54.2 million, increase from the more than $2.1 billion collected in July 2021.

Georgia saw a 10.7% increase in individual income tax and a 62.3% increase in corporate income tax collections. Additionally, The Peach State continues to see increased hotel and motel tax fees, as Georgia Department of Revenue data shows collections increased 15% from last July.

In 2021, Georgia reported nearly 159.6 million domestic and international visitors, including 159.2 million overnight and day trips from domestic travelers. While domestic tourism has exceeded pre-pandemic levels, as The Center Square reported last month, the number of international visitors remains down in the wake of the lingering COVID-19 pandemic.

"Despite the success Georgia has had in the domestic leisure segment, convention business and international travel remain well below where they were pre-pandemic," Georgia Department of Economic Development Deputy Commissioner for Tourism Mark Jaronski said in an announcement. "The challenge ahead of our industry is to grow all segments of travel and deliver exceptional visitor experiences to ensure that the increased demand that we have generated converts to repeat visitation in the future."

Unsurprisingly, motor fuel tax collections are down 97.8% from last year after Gov. Brian Kemp, a Republican, signed a series of orders to suspend the state's collection of Georgia's gas tax amid higher fuel costs. As of now, the tax is suspended through Sept. 12.

Georgia's fiscal 2022 net tax collections were 23%, or nearly $6.2 billion, above fiscal 2021 collections.

The focus of the work of The Center Square Georgia is state and local-level government and economic reporting that approaches stories with a taxpayer sensibility.