| HB 1169 - Income tax; gradual reduction |
First Reader Summary
A BILL to amend Code Section 48-7-20 of the Official Code of
Georgia Annotated, relating to the income tax rates for
individuals, fiduciaries, and partnerships, so as to provide for
a gradual reduction in the income tax rates over a period of five
years; and for other purposes.
HB 1169 LC 25 1456
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 the income tax rates for
1- 3 individuals, fiduciaries, and partnerships, so as to provide
1- 4 for a gradual reduction in the income tax rates over a
1- 5 period of five years; to provide an effective date; to
1- 6 provide applicability; to repeal conflicting laws; and for
1- 7 other purposes.
1- 8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
1- 9 SECTION 1.
1-10 Code Section 48-7-20 of the Official Code of Georgia
1-11 Annotated, relating to the income tax rates for individuals,
1-12 fiduciaries, and partnerships, is amended by striking
1-13 paragraph (1) of subsection (b), which reads as follows:
1-14 "(b)(1) The tax imposed pursuant to subsection (a) of
1-15 this Code section shall be computed in accordance with
1-16 the following tables:
1-17 SINGLE PERSON
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 HEAD OF HOUSEHOLD AND MARRIED PERSONS
2-18 FILING A JOINT RETURN
2-19 If Georgia Taxable
2-20 Net Income Is: The Tax Is:
2-21 Not over $1,000.00 ............ 1%
2-22 Over $1,000.00 but not over
2-23 $3,000.00 ..................... $10.00 plus 2% of amount
2-24 Over $3,000.00 but not over
2-25 $5,000.00 ..................... $50.00 plus 3% of amount
2-26 Over $5,000.00 but not over
2-27 $7,000.00 ..................... $110.00 plus 4% of
-2-
3- 1 Over $7,000.00 but not over
3- 2 $10,000.00 .................... $190.00 plus 5% of
3- 3 Over $10,000.00 ............... $340.00 plus 6% of
3- 4 and inserting in its place the following:
3- 5 "(b)(1) The tax imposed pursuant to subsection (a) of
3- 6 this Code section shall be computed in accordance with
3- 7 the following tables:
3- 8 (A) For the taxable year beginning on or after January
3- 9 1, 2001, and prior to January 1, 2002:
3-10 SINGLE PERSON
3-11 If Georgia Taxable
3-12 Net Income Is: The Tax Is:
3-13 Not over $750.00 .............. 0.6%
3-14 Over $750.00 but not over
3-15 $2,250.00 ...................... $4.50 plus 1.6% of
3-16 Over $2,250.00 but not over
3-17 $3,750.00 ...................... $28.50 plus 2.6% of
3-18 Over $3,750.00 but not over
3-19 $5,250.00 ...................... $67.50 plus 3.6% of
3-20 Over $5,250.00 but not over
3-21 $7,000.00 ...................... $121.50 plus 4.6% of
3-22 Over $7,000.00 ................. $202.00 plus 5.6% of
3-23 MARRIED PERSON FILING A SEPARATE RETURN
3-24 If Georgia Taxable
3-25 Net Income Is: The Tax Is:
3-26 Not over $500.00 ............... 0.6%
3-27 Over $500.00 but not over
3-28 $1,500.00 ...................... $3.00 plus 1.6% of
-3-
4- 1 Over $1,500.00 but not over
4- 2 $2,500.00 ...................... $19.00 plus 2.6% of
4- 3 Over $2,500.00 but not over
4- 4 $3,500.00 ...................... $45.00 plus 3.6% of
4- 5 Over $3,500.00 but not over
4- 6 $5,000.00 ...................... $81.00 plus 4.6% of
4- 7 Over $5,000.00 ................. $150.00 plus 5.6% of
4- 8 HEAD OF HOUSEHOLD AND MARRIED PERSONS
4- 9 FILING A JOINT RETURN
4-10 If Georgia Taxable
4-11 Net Income Is: The Tax Is:
4-12 Not over $1,000.00 ............ 0.6%
4-13 Over $1,000.00 but not over
4-14 $3,000.00 ...................... $6.00 plus 1.6% of
4-15 Over $3,000.00 but not over
4-16 $5,000.00 ...................... $38.00 plus 2.6% of
4-17 Over $5,000.00 but not over
4-18 $7,000.00 ...................... $90.00 plus 3.6% of
4-19 Over $7,000.00 but not over
4-20 $10,000.00 ..................... $162.00 plus 4.6% of
4-21 Over $10,000.00 ................ $300.00 plus 5.6% of
4-22 (B) For the taxable year beginning on or after January
4-23 1, 2002, and prior to January 1, 2003:
4-24 SINGLE PERSON
4-25 If Georgia Taxable
4-26 Net Income Is: The Tax Is:
4-27 Not over $750.00 ............... 0.2%
-4-
5- 1 Over $750.00 but not over
5- 2 $2,250.00 ...................... $1.50 plus 1.2% of
5- 3 Over $2,250.00 but not over
5- 4 $3,750.00 ...................... $19.50 plus 2.2% of
5- 5 Over $3,750.00 but not over
5- 6 $5,250.00 ...................... $52.50 plus 3.2% of
5- 7 Over $5,250.00 but not over
5- 8 $7,000.00 ...................... $100.50 plus 4.2% of
5- 9 Over $7,000.00 ................. $174.00 plus 5.2% of
5-10 MARRIED PERSON FILING A SEPARATE RETURN
5-11 If Georgia Taxable
5-12 Net Income Is: The Tax Is:
5-13 Not over $500.00 ................ 0.2%
5-14 Over $500.00 but not over
5-15 $1,500.00 ...................... $1.00 plus 1.2% of
5-16 Over $1,500.00 but not over
5-17 $2,500.00 ...................... $13.00 plus 2.2% of
5-18 Over $2,500.00 but not over
5-19 $3,500.00 ...................... $35.00 plus 3.2% of
5-20 Over $3,500.00 but not over
5-21 $5,000.00 ...................... $67.00 plus 4.2% of
5-22 Over $5,000.00 ................. $130.00 plus 5.2% of
5-23 HEAD OF HOUSEHOLD AND MARRIED PERSONS
5-24 FILING A JOINT RETURN
5-25 If Georgia Taxable
5-26 Net Income Is: The Tax Is:
5-27 Not over $1,000.00 ............. 0.2%
-5-
6- 1 Over $1,000.00 but not over
6- 2 $3,000.00 ..................... $2.00 plus 1.2% of
6- 3 Over $3,000.00 but not over
6- 4 $5,000.00 ..................... $26.00 plus 2.2% of
6- 5 Over $5,000.00 but not over
6- 6 $7,000.00 ..................... $70.00 plus 3.2% of
6- 7 Over $7,000.00 but not over
6- 8 $10,000.00 .................... $134.00 plus 4.2% of
6- 9 Over $10,000.00 ............... $260.00 plus 5.2% of
6-10 (C) For the taxable year beginning on or after January
6-11 1, 2003, and prior to January 1, 2004:
6-12 SINGLE PERSON
6-13 If Georgia Taxable
6-14 Net Income Is: The Tax Is:
6-15 Not over $750.00 ............... 0%
6-16 Over $750.00 but not over
6-17 $2,250.00 ...................... 0.8% of amount
6-18 Over $2,250.00 but not over
6-19 $3,750.00 ...................... $12.00 plus 1.8% of
6-20 Over $3,750.00 but not over
6-21 $5,250.00 ...................... $39.00 plus 2.8% of
6-22 Over $5,250.00 but not over
6-23 $7,000.00 ...................... $81.00 plus 3.8% of
6-24 Over $7,000.00 ................. $147.50 plus 4.8% of
6-25 MARRIED PERSON FILING A SEPARATE RETURN
6-26 If Georgia Taxable
6-27 Net Income Is: The Tax Is:
6-28 Not over $500.00 ................ 0%
-6-
7- 1 Over $500.00 but not over
7- 2 $1,500.00 ...................... 0.8% of amount
7- 3 Over $1,500.00 but not over
7- 4 $2,500.00 ...................... $8.00 plus 1.8% of
7- 5 Over $2,500.00 but not over
7- 6 $3,500.00 ...................... $26.00 plus 2.8% of
7- 7 Over $3,500.00 but not over
7- 8 $5,000.00 ...................... $54.00 plus 3.8% of
7- 9 Over $5,000.00 ................. $114.00 plus 4.8% of
7-10 HEAD OF HOUSEHOLD AND MARRIED PERSONS
7-11 FILING A JOINT RETURN
7-12 If Georgia Taxable
7-13 Net Income Is: The Tax Is:
7-14 Not over $1,000.00 ............. 0%
7-15 Over $1,000.00 but not over
7-16 $3,000.00 ..................... 0.8% of amount
7-17 Over $3,000.00 but not over
7-18 $5,000.00 ..................... $16.00 plus 1.8% of
7-19 Over $5,000.00 but not over
7-20 $7,000.00 ..................... $52.00 plus 2.8% of
7-21 Over $7,000.00 but not over
7-22 $10,000.00 .................... $108.00 plus 3.8% of
7-23 Over $10,000.00 ............... $222.00 plus 4.8% of
7-24 (D) For the taxable year beginning on or after January
7-25 1, 2004, and prior to January 1, 2005:
-7-
8- 1 SINGLE PERSON
8- 2 If Georgia Taxable
8- 3 Net Income Is: The Tax Is:
8- 4 Not over $750.00 ............... 0%
8- 5 Over $750.00 but not over
8- 6 $2,250.00 ...................... 0.4% of amount
8- 7 Over $2,250.00 but not over
8- 8 $3,750.00 ...................... $6.00 plus 1.4% of
8- 9 Over $3,750.00 but not over
8-10 $5,250.00 ...................... $27.00 plus 2.4% of
8-11 Over $5,250.00 but not over
8-12 $7,000.00 ...................... $63.00 plus 3.4% of
8-13 Over $7,000.00 ................. $122.50 plus 4.4% of
8-14 MARRIED PERSON FILING A SEPARATE RETURN
8-15 If Georgia Taxable
8-16 Net Income Is: The Tax Is:
8-17 Not over $500.00 ............... 0%
8-18 Over $500.00 but not over
8-19 $1,500.00 ...................... 0.4% of amount
8-20 Over $1,500.00 but not over
8-21 $2,500.00 ...................... $4.00 plus 1.4% of
8-22 Over $2,500.00 but not over
8-23 $3,500.00 ...................... $18.00 plus 2.4% of
8-24 Over $3,500.00 but not over
8-25 $5,000.00 ...................... $42.00 plus 3.4% of
8-26 Over $5,000.00 ................. $93.00 plus 4.4% of
-8-
9- 1 HEAD OF HOUSEHOLD AND MARRIED PERSONS
9- 2 FILING A JOINT RETURN
9- 3 If Georgia Taxable
9- 4 Net Income Is: The Tax Is:
9- 5 Not over $1,000.00 ........... 0%
9- 6 Over $1,000.00 but not over
9- 7 $3,000.00 ..................... 0.4% of amount
9- 8 Over $3,000.00 but not over
9- 9 $5,000.00 ..................... $8.00 plus 1.4% of
9-10 Over $5,000.00 but not over
9-11 $7,000.00 ..................... $36.00 plus 2.4% of
9-12 Over $7,000.00 but not over
9-13 $10,000.00 .................... $84.00 plus 3.4% of
9-14 Over $10,000.00 ............... $186.00 plus 4.4% of
9-15 (E) For any taxable year beginning on or after January
9-16 1, 2005:
9-17 SINGLE PERSON
9-18 If Georgia Taxable
9-19 Net Income Is: The Tax Is:
9-20 Not over $2,250.00 ............. 0%
9-21 Over $2,250.00 but not over
9-22 $3,750.00 ...................... 1% of amount
9-23 Over $3,750.00 but not over
9-24 $5,250.00 ...................... $15.00 plus 2% of
9-25 Over $5,250.00 but not over
9-26 $7,000.00 ...................... $45.00 plus 3% of
9-27 Over $7,000.00 ................. $97.50 plus 4% of
-9-
10- 1 MARRIED PERSON FILING A SEPARATE RETURN
10- 2 If Georgia Taxable
10- 3 Net Income Is: The Tax Is:
10- 4 Not over $1,500.00 ............. 0%
10- 5 Over $1,500.00 but not over
10- 6 $2,500.00 ...................... 1% of amount
10- 7 Over $2,500.00 but not over
10- 8 $3,500.00 ...................... $10.00 plus 2% of
10- 9 Over $3,500.00 but not over
10-10 $5,000.00 ...................... $30.00 plus 3% of
10-11 Over $5,000.00 ................. $75.00 plus 4% of
10-12 HEAD OF HOUSEHOLD AND MARRIED PERSONS
10-13 FILING A JOINT RETURN
10-14 If Georgia Taxable
10-15 Net Income Is: The Tax Is:
10-16 Not over $3,000.00 ........... 0%
10-17 Over $3,000.00 but not over
10-18 $5,000.00 .................... 1% of amount
10-19 Over $5,000.00 but not over
10-20 $7,000.00 .................... $20.00 plus 2% of
10-21 Over $7,000.00 but not over
10-22 $10,000.00 ................... $60.00 plus 3% of
10-23 Over $10,000.00 .............. $150.00 plus 4% of
10-24 SECTION 2.
10-25 This Act shall become effective January 1, 2001, and shall
10-26 be applicable to all taxable years beginning on or after
10-27 that date.
-10-
11- 1 SECTION 3.
11- 2 All laws and parts of laws in conflict with this Act are
11- 3 repealed.
-11-
Clerk of the House
Robert E. Rivers, Jr., Clerk
Last Updated on 01/13/00
