Atlanta, GA (STL.News) The State of Georgia’s April net tax collections totaled more than $2.80 billion for an increase of $963.7 million, or 52.4 percent, compared to April 2020 when net tax collections totaled almost $1.84 billion. Year-to-date, net tax collections totaled $21.74 billion for an increase of nearly $2.51 billion, or 13.1 percent, compared to the previous fiscal year when net tax revenues totaled $19.23 billion after ten months.
Year-over-year comparisons of state net tax collections for the spring quarter of April-June are made difficult by the 2020 deferral of state tax filing deadlines for quarterly and annual income taxes to July 15, 2020 and the 2021 deferral of the annual individual income tax filing deadline to May 17th. While annual totals as of June 30th will be comparable, monthly year-over-year comparisons may not be appropriate since financial results were impacted by the economic implications of the Coronavirus pandemic and the aforementioned shifting of return filing deadlines.
Individual Income Tax: Net Individual Income Tax collections for the month totaled $1.22 billion, for an increase of $371 million, or 43.6 percent, compared to April 2020 when net Individual Tax revenues totaled $851.7 million.
The following notable components within Individual Income Tax combine for the net increase: