HB 146 - Income tax; married persons; change certain tax tables

First Reader Summary

A BILL to amend Code Section 48-7-20 of the Official Code of Georgia Annotated, relating to state income taxation, so as to change certain tax tables used for computing such tax with respect to married persons; and for other purposes.

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HB 146                                             LC 18 7706 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Code Section 48-7-20 of the Official Code of 
  1- 2  Georgia Annotated, relating to state income taxation, so as 
  1- 3  to change certain tax tables used for computing such tax 
  1- 4  with respect to married persons; to provide an effective 
  1- 5  date; to provide for applicability; to repeal conflicting 
  1- 6  laws; and for other purposes. 
 
  1- 7       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1- 8                           SECTION 1. 
 
  1- 9  Code Section 48-7-20 of the Official Code of Georgia 
  1-10  Annotated, relating to state income taxation, is amended by 
  1-11  striking paragraph (1) of subsection (b) and inserting in 
  1-12  its place a new paragraph (1) to read as follows: 
 
  1-13      "(b)(1) The tax imposed pursuant to subsection (a) of 
  1-14      this Code section shall be computed in accordance with 
  1-15      the following tables: 
 
  1-16                       SINGLE PERSON AND 
  1-17            MARRIED PERSON FILING A SEPARATE RETURN 
 
  1-18             If Georgia Taxable 
  1-19               Net Income Is:                The Tax Is: 
 
  1-20      Not over $750.00 ...............            1% 
 
  1-21      Over $750.00 but not over 
  1-22      $2,250.00 ...................... $7.50 plus 2% of amount 
 
 
  1-23      Over $2,250.00 but not over 
  1-24      $3,750.00 ...................... $37.50 plus 3% of 
 
 
  1-25      Over $3,750.00 but not over 
  1-26      $5,250.00 ...................... $82.50 plus 4% of 
 
 
 
 
 
 
                                 -1- 
 
 
 
  2- 1      Over $5,250.00 but not over 
  2- 2      $7,000.00 ...................... $142.50 plus 5% of 
 
 
  2- 3      Over $7,000.00 ................. $230.00 plus 6% of 
 
 
  2- 4            MARRIED PERSON FILING A SEPARATE RETURN 
 
  2- 5             If Georgia Taxable 
  2- 6               Net Income Is:                The Tax Is: 
 
  2- 7      Not over $500.00 ...............            1% 
 
  2- 8      Over $500.00 but not over 
  2- 9      $1,500.00 ...................... $5.00 plus 2% of amount 
 
 
  2-10      Over $1,500.00 but not over 
  2-11      $2,500.00 ...................... $25.00 plus 3% of 
 
 
  2-12      Over $2,500.00 but not over 
  2-13      $3,500.00 ...................... $55.00 plus 4% of 
 
 
  2-14      Over $3,500.00 but not over 
  2-15      $5,000.00 ...................... $95.00 plus 5% of 
 
 
  2-16      Over $5,000.00 ................. $170.00 plus 6% of 
 
 
  2-17             MARRIED PERSONS FILING A JOINT RETURN 
 
  2-18             If Georgia Taxable 
  2-19               Net Income Is:                The Tax Is: 
 
  2-20      Not over $1,500.00 ............             1% 
 
  2-21      Over $1,500.00 but not over 
  2-22      $4,500.00 ..................... $15.00 plus 2% of amount 
 
 
  2-23      Over $4,500.00 but not over 
  2-24      $7,500.00 ..................... $75.00 plus 3% of amount 
 
 
  2-25      Over $7,500.00 but not over 
  2-26      $10,500.00 .................... $165.00 plus 4% of 
 
 
 
 
 
 
                                 -2- 
 
 
 
  3- 1      Over $10,500.00 but not over 
  3- 2      $14,000.00 .................... $285.00 plus 5% of 
 
 
  3- 3      Over $14,000.00 ............... $460.00 plus 6% of 
 
 
  3- 4             HEAD OF HOUSEHOLD AND MARRIED PERSONS 
  3- 5                     FILING A JOINT RETURN 
 
  3- 6             If Georgia Taxable 
  3- 7               Net Income Is:                The Tax Is: 
 
  3- 8      Not over $1,000.00 ............             1% 
 
  3- 9      Over $1,000.00 but not over 
  3-10      $3,000.00 ..................... $10.00 plus 2% of amount 
 
 
  3-11      Over $3,000.00 but not over 
  3-12      $5,000.00 ..................... $50.00 plus 3% of amount 
 
 
  3-13      Over $5,000.00 but not over 
  3-14      $7,000.00 ..................... $110.00 plus 4% of 
 
 
  3-15      Over $7,000.00 but not over 
  3-16      $10,000.00 .................... $190.00 plus 5% of 
 
 
  3-17      Over $10,000.00 ............... $340.00 plus 6% of 
 
 
  3-18                           SECTION 2. 
 
  3-19  This Act shall become effective on January 1, 1998, and 
  3-20  shall be applicable to all taxable years beginning on or 
  3-21  after that date. 
 
  3-22                           SECTION 3. 
 
  3-23  All laws and parts of laws in conflict with this Act are 
  3-24  repealed. 
 
 
 
 
 
 
 
 
 
 
 
                                 -3-