Georgia’s net tax collections slipped slightly in January, with the state reporting $3.03 billion in net tax revenue for the month — down $18.1 million, or 0.6%, compared to January of last year. State officials framed the dip as a modest month-to-month decline, not a major shift in overall revenue performance.

Even with the January decrease, Georgia is still ahead overall for the fiscal year so far. Year-to-date net revenue through seven months is about $19.75 billion, an increase of $345.6 million (up 1.8%) compared to the same point in the prior fiscal year.

The state report shows the biggest pressure point in January was individual income tax collections, which fell to nearly $1.57 billion, down $27.4 million (1.7%). The decline was largely tied to higher income tax refunds and a drop in withholding payments, both of which can shift month-to-month based on refund timing and payroll trends.

At the same time, sales and use tax collections rose, increasing by $36.3 million (4%). That gain suggests consumer spending held up during the month, even though sales tax refunds also increased, offsetting part of the growth.

Corporate taxes were another weak spot. Corporate income tax collections totaled $122.8 million, a drop of $38.1 million (23.7%) compared to last January. The report points to lower estimated payments and lower return payments from businesses as key factors.

State leaders say they will continue monitoring collections closely as the fiscal year progresses, especially as refund activity and business payments fluctuate and as lawmakers weigh budget priorities for the months ahead.