GA SB168

Accelerates the annual state income tax rate reduction from 0.10% to 1% per year, beginning January 1, 2026

Changes the target tax rate from 4.99% to 0%, effectively phasing out the state income tax entirely over approximately 6 years

Removes all conditions that previously allowed delays to rate reductions, including requirements for 3% revenue growth, higher net revenue than prior years, and adequate Revenue Shortfall Reserve funds

Eliminates the Office of Planning and Budget's role in determining whether conditions are met for annual rate reductions

Effective July 1, 2025, applying to taxable years beginning on or after January 1, 2026