Bill > HB275

This bill modifies the definition of "corporation" in Georgia's income tax code by expanding the existing definition to explicitly include professional associations organized under Chapter 10 of Title 14 and insurance companies, in addition to other associations. The change broadens the scope of entities considered corporations for tax purposes, potentially affecting how these types of organizations are taxed. The bill will become effective upon receiving the Governor's approval or becoming law without explicit approval, and it automatically repeals any conflicting laws. While the modification may seem technical, it provides greater clarity in the tax code by specifically listing different types of business entities that fall under the corporate classification, which could have implications for tax reporting and compliance for professional associations and insurance companies.

Budget and Finance

https://www.legis.ga.gov/legislation/69942