Gov. Brian Kemp signed legislation on April 15 that will deliver the biggest tax cut in Georgia’s history and a third one-time refund check.
The $1 billion in tax relief means state taxpayers will get up to a $500 refund later this year, according to a press release from the governor’s office. Georgians who file jointly will receive $500, single filers will receive $250, and heads of household will get $375.
“Here in Georgia, we safeguard every dollar of taxpayer money, because we know it belongs to the people, not the government,” Kemp said at a signing ceremony in Cobb County. “While other states are running up budget deficits and raising taxes on their citizens, we’re investing in the priorities of our state while further cutting taxes and returning more than a billion dollars to hardworking Georgians! That’s on top of the tax relief we’ve given in prior years and is a direct result of our conservative budgeting. “As families fight through the impacts of high prices over the last several years, I want to thank our partners in the legislature for helping to make this possible and for supporting their fellow Georgians in this way.”
Kemp signed HB 111 to accelerate the income tax cut and HB 112 to authorizes refunds.
By cutting the tax rate another 20 basis points, the total income tax rate will now be down to just 5.19 percent – a decrease of 56 basis points from the original rate of 5.75 percent, according to the press release.
Click here for more information on the one-time special tax refund.
