HB 16 - Marriage Penalty Repeal Act; enact

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; to provide for a short title; to provide an effective date; and for other purposes.

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HB 16                                              LC 18 7716 
 
 
 
 
 
 
                        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 for a short 
  1- 5  title; to provide an effective date; to provide for 
  1- 6  applicability; to repeal conflicting laws; and for other 
  1- 7  purposes. 
 
  1- 8       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1- 9                           SECTION 1. 
 
  1-10  This Act shall be known and may be cited as the "Marriage 
  1-11  Penalty Repeal Act." 
 
  1-12                           SECTION 2. 
 
  1-13  Code Section 48-7-20 of the Official Code of Georgia 
  1-14  Annotated, relating to state income taxation, is amended by 
  1-15  striking paragraph (1) of subsection (b) and inserting in 
  1-16  its place a new paragraph (1) to read as follows: 
 
  1-17      "(b)(1) The tax imposed pursuant to subsection (a) of 
  1-18      this Code section shall be computed in accordance with 
  1-19      the following tables: 
 
  1-20                       SINGLE PERSON AND 
  1-21            MARRIED PERSON FILING A SEPARATE RETURN 
 
  1-22             If Georgia Taxable 
  1-23               Net Income Is:                The Tax Is: 
 
  1-24      Not over $750.00 ...............            1% 
 
  1-25      Over $750.00 but not over 
  1-26      $2,250.00 ...................... $7.50 plus 2% of amount 
 
 
  1-27      Over $2,250.00 but not over 
  1-28      $3,750.00 ...................... $37.50 plus 3% of 
 
 
 
 
 
                                 -1- 
 
 
 
  2- 1      Over $3,750.00 but not over 
  2- 2      $5,250.00 ...................... $82.50 plus 4% of 
 
 
  2- 3      Over $5,250.00 but not over 
  2- 4      $7,000.00 ...................... $142.50 plus 5% of 
 
 
  2- 5      Over $7,000.00 ................. $230.00 plus 6% of 
 
 
  2- 6            MARRIED PERSON FILING A SEPARATE RETURN 
 
  2- 7             If Georgia Taxable 
  2- 8               Net Income Is:                The Tax Is: 
 
  2- 9      Not over $500.00 ...............            1% 
 
  2-10      Over $500.00 but not over 
  2-11      $1,500.00 ...................... $5.00 plus 2% of amount 
 
 
  2-12      Over $1,500.00 but not over 
  2-13      $2,500.00 ...................... $25.00 plus 3% of 
 
 
  2-14      Over $2,500.00 but not over 
  2-15      $3,500.00 ...................... $55.00 plus 4% of 
 
 
  2-16      Over $3,500.00 but not over 
  2-17      $5,000.00 ...................... $95.00 plus 5% of 
 
 
  2-18      Over $5,000.00 ................. $170.00 plus 6% of 
 
 
  2-19             MARRIED PERSONS FILING A JOINT RETURN 
 
  2-20             If Georgia Taxable 
  2-21               Net Income Is:                The Tax Is: 
 
  2-22      Not over $1,500.00 ............             1% 
 
  2-23      Over $1,500.00 but not over 
  2-24      $4,500.00 ..................... $15.00 plus 2% of amount 
 
 
  2-25      Over $4,500.00 but not over 
  2-26      $7,500.00 ..................... $75.00 plus 3% of amount 
 
 
 
 
 
 
                                 -2- 
 
 
 
  3- 1      Over $7,500.00 but not over 
  3- 2      $10,500.00 .................... $165.00 plus 4% of 
 
 
  3- 3      Over $10,500.00 but not over 
  3- 4      $14,000.00 .................... $285.00 plus 5% of 
 
 
  3- 5      Over $14,000.00 ............... $460.00 plus 6% of 
 
 
  3- 6             HEAD OF HOUSEHOLD AND MARRIED PERSONS 
  3- 7                     FILING A JOINT RETURN 
 
  3- 8             If Georgia Taxable 
  3- 9               Net Income Is:                The Tax Is: 
 
  3-10      Not over $1,000.00 ............             1% 
 
  3-11      Over $1,000.00 but not over 
  3-12      $3,000.00 ..................... $10.00 plus 2% of amount 
 
 
  3-13      Over $3,000.00 but not over 
  3-14      $5,000.00 ..................... $50.00 plus 3% of amount 
 
 
  3-15      Over $5,000.00 but not over 
  3-16      $7,000.00 ..................... $110.00 plus 4% of 
 
 
  3-17      Over $7,000.00 but not over 
  3-18      $10,000.00 .................... $190.00 plus 5% of 
 
 
  3-19      Over $10,000.00 ............... $340.00 plus 6% of 
 
 
  3-20                           SECTION 3. 
 
  3-21  This Act shall become effective on January 1, 1998, and 
  3-22  shall be applicable to all taxable years beginning on or 
  3-23  after that date. 
 
  3-24                           SECTION 4. 
 
  3-25  All laws and parts of laws in conflict with this Act are 
  3-26  repealed. 
 
 
 
 
 
 
 
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