2018: HB 918 Revenue and taxation; Internal Revenue Code
Session 2017-18House Bill 918 provides for the annual Internal Revenue Code update for the tax years 2017 and 2018 and includes a reduction of both the personal and corporate income tax rate to 5.75% in 2019 and 5.5% in 2020 upon approval by the legislature. The Chamber recognizes the impact of global competition on businesses and supports tax proposals that encourage job creation and retention in Georgia. We recognize that businesses are a key component to economic development and an improved quality of life for all Georgians. The Chamber supports changes to tax policy that reduce income tax rates to the extent of fiscal responsibility and believe the proposed changes to the tax code are a useful step forward in advancing economic mobility and prosperity.
| Description | Sponsors | Bill Status | Chamber Position |
|---|---|---|---|
House Bill 918 provides for the annual Internal Revenue Code update for the tax years 2017 and 2018 and includes a reduction of both the personal and corporate income tax rate to 5.75% in 2019 and 5.5% in 2020 upon approval by the legislature. The Chamber recognizes the impact of global competition on businesses and supports tax proposals that encourage job creation and retention in Georgia. We recognize that businesses are a key component to economic development and an improved quality of life for all Georgians. The Chamber supports changes to tax policy that reduce income tax rates to the extent of fiscal responsibility and believe the proposed changes to the tax code are a useful step forward in advancing economic mobility and prosperity. |
Act 284 03/02/2018 |
