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GA HB144
GA HB144Income tax; certain income received for retirement benefits from military service in the armed forces of the United States; exempt
summary
Introduced
01/27/2021
01/27/2021
In Committee
Crossed Over
Passed
Dead
04/04/2022
04/04/2022
Introduced Session
2021-2022 Regular Session
Bill Summary
AN ACT To amend Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to the imposition, rate, computation, and exemptions from state income tax, so as to exempt from state income tax certain income received by taxpayers as retirement benefits from military service in the armed forces of the United States or the reserve components thereof; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.
AI Summary
This bill exempts from Georgia state income tax certain income received by taxpayers as retirement benefits from military service in the armed forces of the United States or the reserve components thereof, up to the lesser of the individual's earned income or $35,000. The exemption applies to individuals who are less than 62 years of age and is effective for all taxable years beginning on or after January 1, 2022.
Committee Categories
Budget and Finance
Sponsors (6)
Heath Clark (R)*,
Bill Hitchens (R)*,
Derrick Jackson (D)*,
Calvin Smyre (D)*,
Steve Tarvin (R)*,
Al Williams (D)*,
Last Action
House Second Readers (on 01/29/2021)
bill text
bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| BillText | https://www.legis.ga.gov/api/legislation/document/20212022/196050 | 01/28/2021 |
| Bill | https://www.legis.ga.gov/legislation/59015 | 01/28/2021 |
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