GA HB1199

Amends Georgia Code Section 48-1-2 to update the state's conformity to the federal Internal Revenue Code from January 1, 2025 to January 1, 2026 for taxable years beginning on or after January 1, 2025

Maintains Georgia's selective decoupling from numerous federal tax provisions including bonus depreciation (Section 168(k)), certain research and development expense rules (Section 174), and provisions from the CARES Act affecting net operating losses and excess business losses

Adds new decoupling from IRC Sections 42 and 170(p), treating these provisions as they were before the 2025 enactment of federal Public Law 119-21

Removes several previously excluded IRC sections from the decoupling list, including Section 810(b)(4) and multiple Section 1400 provisions related to Gulf Opportunity Zone and disaster relief incentives

Effective upon Governor's approval and applicable to all taxable years beginning on or after January 1, 2025