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GA HB133
Bill
Status
Engrossed
3/16/2011
Primary Sponsor
Ellis Black
Click for details
AI Summary
- Overpayments of $1.00 or less on Georgia income tax will not be automatically refunded but instead credited against future years' tax liability, unless the taxpayer specifically requests a refund via a checkbox on the return
- Even if a taxpayer requests a refund of a de minimis overpayment, no refund will be issued until the cumulative amount exceeds $1.00, unless the taxpayer submits a separate written request to the department
- Underpayments of $1.00 or less will be waived entirely, meaning the taxpayer will not be liable for the insufficiency and no additional income tax will be due for that taxable year
- Applies to all taxable years beginning on or after January 1, 2011, and takes effect upon the Governor's approval
- Amends Article 5 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated by adding new Code section 48-7-130
Legislative Description
Income tax payment; de minimis overpayments and insufficiencies; provisions
Last Action
Senate Conference Committee Report Adopted
3/29/2012
Committee Referrals
Finance3/16/2011
Ways and Means2/2/2011
Full Bill Text
No bill text available