Governor Kemp Signs Tax Relief Bills Live from Georgia

Today, Governor Brian Kemp of Georgia signed several tax bills aimed at providing relief to residents. One of the key bills, House Bill 1015, will reduce Georgia’s income tax from 5.75% to 5.39% this year. The ultimate goal is to bring the income tax rate below 5% in the long term.

Additionally, Governor Kemp signed several other bills, including HB1023, which aligns the corporate income tax rate with that of individual taxpayers.

HB581 addresses audits and tax accounts, revising deadlines, selection criteria, and economic analyses. HB1021 increases the amount of the dependent exemption, also known as the child tax credit, in Georgia. Finally, SB496 provides an ad valorem tax reduction for historic properties.

Governor Kemp Signs Tax Relief Bills Live from Georgia

Governor Kemp praised the recently concluded legislative session and the state’s new budget during a previous event in Marietta. However, he still has until May 7 to sign or veto several other bills approved by the General Assembly.

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The bill signing ceremony took place in Augusta, showcasing the state’s commitment to providing tax relief to its residents.