An announcement was made today by Gov. Deal stating that Georgia’s net tax collections for November, 2015 totaled over $1.64 billion, an increase of about $109.7 million (7.5%) from November, 2014. This brings the final net tax revenue collections to $8.4 billion for the 2016 fiscal year, which is up $699.5 million (9.1%) from last year.
In addition, $76.7 million was generated for transportation in November due to changes implemented by House Bill 170.
The following is a breakdown of the November, 2015 revenues in comparison to November, 2014:
|Description||Amount Collected||Change From Nov., 2014||Percentage Increase|
|Individual income taxes||$831.4 million||$83.7 million||11.2%|
|Gross Sales & Use Tax||$847.3 million||$1.9 million||0.2%|
|Net Sales & Use Tax||$432 million||-$5.8 million||-1.3%|
|Corporate income taxes||$7.6 million||$5.06 million||200.9%|
A copy of the November, 2015 financial report can be seen after the break.