Monday, December 24, 2018
Changes to the Georgia Income Tax rate
Effective 1/1/19, the Georgia rate goes to 5.75% from 6% and on 1/1/20 the rate drops to 5.5% if the legislature approves and the governor signs on to the 1/1/20 drop. They want to analyze the effect of the 2019 rate decrease on state revenues before approving the scheduled 2020 additional decrease. Both of these reductions are temporary and expire on 12/31/25 when the rate goes back to 6%. Hopefully the reductions will stay permanent.
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