Macon, GA – According to the state officials, $70.5 million of October’s tax revenue changes were the result of tax collected on motor fuel prior to the suspension of the state gas tax in September.
State officials also announced that all other October net tax collections decreased by 5.7 percent or $154.9 million compared to October 2022.
Total revenue collections were up 4.2 percent 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 throughout the same time period in 2022.
Net of motor fuel tax changes, revenues for the four months ended October 31 were down 2 percent from this time a year ago.
Individual Income Tax: Individual Income Tax collections during October totaled nearly $1.38 billion, down from a total of $1.56 billion in fiscal year 2023, for a decrease of $185.2 million or 11.8 percent.