HB 1033 – Change Income Tax Definition of "Corporation"

• Amends Code Section 48-7-1 of the Georgia income tax code to revise the definition of "Corporation" by removing "joint-stock companies" from the list of entities included in the definition
• Retains associations, professional associations organized under Chapter 10 of Title 14, and insurance companies within the definition of "Corporation" for income tax purposes
• Sponsored by Representatives Hatchett (143rd), Collins (27th), and Carter (175th)
• Takes effect immediately upon approval by the Governor or upon becoming law without such approval