GA SB476

Personal income tax rate reduced from 5.19% to a flat 4.99% for taxable years beginning January 1, 2026, with the previous annual 0.10% reduction mechanism eliminated

Standard deduction increased substantially: from $24,000 to $100,000 for married couples filing jointly, and from $12,000 to $50,000 for single filers, heads of household, and married filing separately

Corporate and partnership income tax rate set at a flat 4.99%, removing the prior linkage to individual tax rate reductions

All credits against Georgia taxable net income for corporations, fiduciaries, partnerships, and individuals sunset on December 31, 2031; the Georgia affordable housing tax credit reduced from 100% to 50% of the federal credit for applications received on or after January 1, 2027

Multiple tax credits and sales/use tax exemptions repealed, including credits for alternative fuel vehicles, teleworking expenses, port traffic increases, data center equipment, pollution control machinery, and businesses headquartered in-state