State Taxes

Adding Up the Fiscal Notes: Closing the Books on 2013
Tax revisions passed by the Georgia Legislature and signed into law by Gov. Nathan Deal this year will cost an estimated  $168 million over five years, draining more scarce resources on top of years of damaging cuts to schools, job… [Read more]

Crossover Day Report: Tax Revisions Worsen Georgia’s Short-Term Finances
Georgia revenues are expected to drop by about $80 million during the current and upcoming budget years and that number could grow if legislators act on bills that are still pending as the 2013 session of the General Assembly nears an… [Read more]

House Bill 395 (HB 395) would create a complicated new tax break, the Georgia New Markets Tax Credit (NMTC), intended to increase private investment in businesses within low income communities. However, the proposed program’s design is a flawed method for helping low income communities. It would be expensive, overly complex… [Read more]

Two bills under consideration by the General Assembly would create an ambitious new economic development program, “Invest Georgia.” It would direct $100 million in state money over five years to improve Georgia businesses’ access to venture capital – an important form of financing for new companies and entrepreneurs. Senate Bill… [Read more]

Dubbed the Georgia Renaissance Act, House Bill 128 would create $30 million worth of new tax credits aimed at revitalizing local downtowns, making it one of Georgia’s costliest economic development programs. The proposal calls for a mix of tax incentives to entice Georgia businesses and real estate developers to renovate… [Read more]

Tax-Side Spending for Economic Development Continues to Swell
In addition to the nearly $100 million that Gov. Nathan Deal proposes to spend on economic development during the 2014 fiscal year, Georgia is also scheduled to commit another $289 million through 16 business tax credits that companies in Georgia are eligible… [Read more]

Low Revenues Putting Georgia on a Path to Mediocrity
Georgia is one of the most under-funded states in the country, but state lawmakers can remedy structural budget shortfalls by implementing revenue options used successfully by other states. Annual deep cuts in state funding the past five years means fewer teachers… [Read more]

State leaders have already cut nearly $2 billion in spending since before the recession, a truly massive blow to the state’s economic health and Governor Deal has signed four bills into law that will create an approximately $85 million shortfall in the next two fiscal years. Although some of the policy… [Read more]

The Georgia Budget & Policy Institute’s new report Georgia’s Income Tax Essential for State’s Economy and Families examines Georgia’s income tax, provides a comprehensive overview of the economies of no-income-tax states, and outlines why income taxes are essential to Georgia’s well-being.
According to GBPI’s report, there is no evidence that… [Read more]

In the final days of the 2012 legislative session, the General Assembly passed an omnibus tax bill, HB 386,that falls short of the comprehensive tax reform Georgia needs to bring the tax system into the 21st century. While it exhibits some prudence by acknowledging the importance of revenues, HB 386… [Read more]