google-site-verification: google5ae98130f18ad244.html

Thursday, October 18, 2018
   
Text Size

Jan. 9 – Dec. Tax Revenues up 10 Percent as Gov. Deal’s ‘State of the State’ set for Wednesday

Category: Georgia Business News

By Lou Phelps, Coastal Empire News

January 9, 2018 – As Gov. Nathan Deal will deliver his annual ‘State of the State’ address tomorrow, his last as his eight years in office come to a close at the end of 2018.  Deal will outline his proposed 2019 budget for the State of Georgia that comes on the heels of continued strong state revenue numbers for the month of December.

December tax revenues were up 10 percent over last year, it was announced Friday, with Georgia’s net tax collections for the month totaling $2.26 billion, for an increase of $206.1 million, or 10 percent, compared to last year when net tax collections totaled nearly $2.06 billion.  Georgia’s fiscal year runs from July 1 to June 30.

Year-to-date for the first half of the fiscal year, net tax collections totaled $11.3 billion, for an increase of $444.7 million, or 4.1 percent, over December 2016, when net tax revenues totaled roughly $10.86 billion six months into the fiscal year.

In the Governor’s budget message to the members of the Georgia House and Senate to be presented at 11:00 a.m., there will also be proposed revisions to the current 2018 state operating budget – revisions to spend some of that extra revenue for January through June, over the appropriation approved during the 2017 legislative session.

For the month of December, Individual Income Tax collections for the month totaled $1.26 billion, up from approximately $1.11 billion in December 2016, for an increase of approximately $146 million, or 13.1 percent.  Within that category of revenue, Individual Estimated Tax payments were up $60.8 million, or 46.3 percent.

Gross Sales and Use Tax collections deposited during the month totaled nearly $946.5 million, for an increase of $72.5 million, or 8.3 percent, over last year.   This is money that will flow into local cities and counties, as well.  And, the State reported that adjusted distribution of sales tax to local governments totaled $448.1 million, for an increase of approximately $46.3 million, or 11.5 percent, over last year.

Corporate Income Tax collections for December increased by almost $22.3 million, or 13.6 percent, compared to last year when net Corporate Tax collections totaled $163.5 million.

And, Motor Fuel Taxes: Motor Fuel Tax collections during the month totaled $146.2 million, for an increase of $2.7 million, or 1.9 percent, compared to December 2016.

Budget Hearings Begin Next Week

The 2018 Session Joint Budget Hearings for the FY2018 Amended and FY2019 General Budgets are scheduled to begin next Tuesday, Jan. 16, at 9:45 a.m. in Room 341 State Capitol. The Governor is scheduled to speak at 10:00 a.m.

The Hearings will continue on Weds, convening at 9:00 a.m. and adjourning at 10:30 a.m.

The Joint Block Grant Hearing will be held at 1:00 p.m. on Thursday, Jan. 18, 2018 in Room 341 State Capitol.

Scheduled to at the hearings are Dr. Kenneth Heaghney State Fiscal Economist; Superintendent Richard Woods Georgia Department of Education; Commissioner Matt Arthur of the Technical  College System of Georgia; Chancellor Steve Wrigley, Board of Regents of the University System of Georgia; Interim President Caylee Noggle of the Georgia Student Finance Commission; Commissioner Gregory Dozier with the Georgia Department of Corrections; Secretary Brian Kemp Secretary of State; Commissioner Judy Fitzgerald of the Department of Behavioral  Health and Developmental Disabilities; Commissioner Frank Berry of the Georgia Department  of Community Health; Commissioner Michael Nail, Georgia Department of Community Supervision; Commissioner Robyn Crittenden and Interim Director Virginia Pryor, Georgia Department of Human Services; Commissioner Russell McMurry Georgia Department  of Transportation; and Teresa MacCartney, Chief Financial Officer and Director Governor's  Office of Planning and Budget.

The ‘State of the State’ Address Schedule

As has been the tradition for a number of years, the Governor will present his budget overview at the Georgia Chamber of Commerce’s annual ‘Eggs & Issues Breakfast’ set for Weds. Jan. 10 at 8:00 a.m. at the Georgia World Congress Center - Thomas Murphy Ballroom.

The State of the State address will be Thursday, Jan. 11, at 11 a.m at the State Capitol, in the House Chamber. 

Coastal Empire News will be covering the State of the State and the 2019 proposed budget process. 

Overall Rating (0)

0 out of 5 stars

Leave your comments

Post comment as a guest

0 / 300 Character restriction
Your text should be in between 10-300 characters
Your comments are subjected to administrator's moderation.
terms and condition.
    • No comments found
    CLICK to SUBSCRIBE and Support Great Journalism!

    Follow Us!

    TwitterFacebook

    Komento Activities

    Guest - Maria Johnson Pleming - Commented on Oct. 25 - Department of Biolog... in Joomla Article
    So happy to know the Millen Fish Hatchery will be recognized for the incredible system. Mr uncle Dav...
    Guest - Karin Mcgruder - Commented on June 4 - Foram Group Announces... in Joomla Article
    Are there any updates on this project?and when will the first apartments be available?
    Guest - Hart Williford - Commented on June 28 - Savannah Music Festi... in Joomla Article
    Rob will be missed by the entire Savannah Community, he built the Savannah Music Festival to worldwi...
    Guest - Daryl Stair - Commented on Oct. 16 - Sonesta Resort Hilto... in Joomla Article
    Do you have to be a paying guest to use the Tesla charger?
    Guest - JR Lee - Commented on MPC approves plan for new Walm... in Joomla Article
    Great, another complex to attract Savannah's finest entitlement minded individuals. Another complex ...
    Guest - Jack - Commented on Aug. 23 - Phelps on Politics -... in Joomla Article
    "Goose that laid the golden EYE? You're right, that is hard to argue with.
    Guest - Robin Sherman - Commented on Jan. 4 – COMMENTARY: New Year... in Joomla Article
    Excellent post, Ms. Phelps. Effective government can only occur when the public is informed. Transpa...
    Guest - Tao of Me - Commented on Why is Memorial Hospital Being... in Joomla Article
    They aren't telling Memorial employees anything about this. A recent survey of the facilities by Nic...
    Guest - Genie Brazzeal - Commented on Feb. 24 – Lawyer and former Al... in Joomla Article
    Thank you, Mr. Bordeaux! Bring some honesty to this court. No more winking like I experienced.
    Guest - Karl - Commented on Feb. 25 - Memorial Hospital’s ... in Joomla Article
    Good article. Has a lot of information that is very difficult for "team members"(employees) to find....
    Guest - Susan Worthington - Commented on May 13 – UPDATED 11:39 a.m. HC... in Joomla Article
    In 1953 there was not such a thing as a trauma or neonatal program. The need for Neonatal Services ...
    Guest - Linda Dominy - Commented on June 8 – EDITORIAL: Immediate ... in Joomla Article
    As a clinical team member this makes me sad and it would never happen. We can argue politics all day...
    Guest - Judy - Commented on Savannah’s Title Max Bankruptc... in Joomla Article
    How Tracy Young was allowed to file for bankruptcy or chapter 11 is amazing. Title Max should be ch...
    Guest - Samantha Claar - Commented on Aug. 7 - COMMENTARY: Je suis “... in Joomla Article
    Pertinent questions that deserve real answers. If upper management - appointed and elected - can't ...
    Guest - Ken - Commented on Aug. 6 - Dept. of Labor propos... in Joomla Article
    Is this state or federal?
    MY ACCOUNT
    CONTACT
    SOCIAL
    MORE
    ADVERTISE
    Coastal Empire News
    Headquarters: 35 Barnard St., Suite 300, Savannah, GA. 31401.
    Tel: 912-388-4692 | Hours: 8:30 a.m. to 5:00 p.m.