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GA SB441
Bill
Status
Introduced
2/15/2018
Primary Sponsor
Michael Williams
Click for details
AI Summary
- Reduces Georgia's top individual income tax rate from 6% to 4.5% for all filing statuses (single, married filing separately, head of household, and married filing jointly)
- Reduces the 5% bracket rate to 4.5%, effectively collapsing the top two tax brackets into a single 4.5% rate
- Retains the existing graduated tax rates of 1%, 2%, 3%, and 4% for lower income brackets, with no changes to their thresholds
- Applies to both residents and nonresidents earning Georgia taxable net income, including income from services, property, lottery prizes, and business conducted in the state
- Effective date of January 1, 2019
Legislative Description
Income Taxes; rate of tax imposed on the Georgia taxable net income of individuals; modify
Last Action
Senate Read and Referred
2/20/2018
Full Bill Text
No bill text available