Georgia sees year-over-year decline in tax revenues for October
ATLANTA, Ga. (WRDW/WAGT) - The Peach State’s net tax collections during October totaled $2.62 billion, for a decrease of $84.4 million or 3.1%, compared to October 2022.
State officials said Tuesday that $70.5 million of October’s tax revenue changes were the result of tax collected on motor fuel before the state gas tax was suspended in September. Excluding fuel tax revenues, all other October net tax collections decreased by 5.7% or $154.9 million from October 2022.
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On a fiscal year-to-date basis, total revenue collections were up 4.2%, or $428.6 million, from the same four-month period last year, driven mostly by the collection of the state motor fuel tax that was suspended during that period in 2022.
Aside from fuel tax changes, revenues for the four months that ended Oct. 31 were down 2% from this time a year ago.
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