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GA HB1459
Bill
Status
Introduced
2/24/2022
Primary Sponsor
Emory Dunahoo
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AI Summary
- Repeals Georgia's state income taxes (individual and corporate) and corporate net worth tax entirely, replacing them with a broad-based 6.70% consumption tax on all goods and services purchased for final use in Georgia, effective January 1, 2023
- Exempts business-to-business purchases, intermediate goods, investment property, education and training, and used property (on which the tax was previously collected) from the new consumption tax
- Provides a monthly sales tax rebate ("family consumption allowance") to every registered qualified family equal to the tax rate multiplied by the federal poverty level for that family's size, distributed via smartcards, to effectively untax spending up to the poverty level
- Reduces the existing state sales and use tax rate from 4% to 0%, while preserving all local sales and use taxes; local option taxes continue to be imposed and collected under existing law
- Establishes taxpayer protections including an independent problem resolution office, a right to professional fees in disputes where the commissioner's position is not substantially justified, confidentiality of tax reports, and places the burden of persuasion on the commissioner in all tax disputes
Legislative Description
Georgia FairTax Act; enact
Last Action
House Second Readers
3/1/2022
Committee Referrals
Ways and Means2/28/2022
Full Bill Text
No bill text available