Atlanta, Georgia – Based on the most recent financial statistics, tax collections for February 2025 in Georgia show a promising increase of 4.6% compared to the same month last year. Reflecting a $94.2 million rise, this increment increases the net tax collections for February to about $2.13 billion, up from $2.03 billion in February 2024.
Still, the year-to- date numbers show a somewhat different picture even with this monthly increase. Following state motor fuel excise tax adjustment—which Executive Order temporarily froze for a portion of the fiscal year 2024—the net tax revenue collections for the period ending February 28, 2025, reflect a minor decline of 0.4%, equating to $21.53 billion.
The Individual Income Tax collections seem to be the main cause of February’s income increase; they significantly jumped to almost $1.01 billion. Compared to the $878.8 million gathered in the same month of the previous year, this shows a 14.9% rise, or $130.5 million.
Looking at this category deeper indicates that three elements helped to drive the net rise: a large decline in Individual Income Tax refunds provided by 12.1%, increased Income Tax Withholding payments by 5.2%, and an increase in Individual Income Tax Return payments by 10.3%. Other Individual Tax categories, including Estimated Tax payments, also increased by $5.9 million taken together…