GA HB463

Personal income tax rate reduced from 5.19% to 4.99% for 2026, then to 4.49% for 2027, and to 3.99% for 2028 and beyond, subject to revenue-based delay triggers.

Corporate and partnership income tax rate set at a fixed 4.99%, decoupled from the individual rate that will continue declining.

Standard deduction increased from $24,000 to $32,000 for married couples filing jointly, and from $12,000 to $16,000 for single filers, heads of household, and married filing separately.

Rate reductions may be delayed one year if: the Governor's revenue estimate grows less than 1% (changed from 3%), prior year revenue wasn't higher than each of the preceding three years, or the Revenue Shortfall Reserve lacks sufficient funds to cover projected revenue loss.

Effective July 1, 2026, applying to all taxable years beginning on or after January 1, 2026.