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GA SB344
Bill
Status
Passed
5/6/2024
Primary Sponsor
Jason Anavitarte
Click for details
AI Summary
- Amends Georgia Code Section 48-7-21 to exclude certain federal broadband grants and subgrants from state corporate taxable income
- Qualifying grants include those received under the Broadband Equity, Access, and Deployment (BEAD) Program (47 U.S.C. 1702) and the American Rescue Plan Act of 2021 (Public Law 117-2) for broadband infrastructure investments
- Subtraction from taxable income applies only to the extent the grant or subgrant is already included in the corporation's federal taxable income under the Internal Revenue Code of 1986
- Exclusion applies to taxable years beginning on or after January 1, 2024, and prior to January 1, 2029
- Effective date is July 1, 2024, with retroactive applicability to all taxable years beginning on or after January 1, 2024
Legislative Description
Sales and Use Taxes; firearms, ammunition, gun safes, and related accessories during an 11 day period each year; exempt
Last Action
Act 610
5/6/2024
Committee Referrals
Ways and Means2/7/2024
Finance1/11/2024
Full Bill Text
No bill text available