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03 LC 21 7151
House Bill
118
By: Representatives Birdsong of the 104th, Skipper of the 116th, Buck of the 112th, Smyre of the 111th, Royal of the 140th and others
By: Representatives Birdsong of the 104th, Skipper of the 116th, Buck of the 112th, Smyre of the 111th, Royal of the 140th and others
A BILL TO BE
ENTITLED
AN ACT
AN ACT
To amend Article 2 of Chapter 7 of Title 48 of the Official
Code of Georgia Annotated, relating to imposition, rate, and computation of
income taxes, so as to provide that military income received by a taxpayer who
is a member of the national guard or any reserve component of the armed forces
of the United States called to active duty shall not be subject to state income
tax; to provide an effective date; to provide for applicability; to repeal
conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF
GEORGIA:
SECTION 1.
Article 2 of Chapter 7 of Title 48 of the Official Code of
Georgia Annotated, relating to imposition, rate, and computation of income
taxes, is amended by adding a new Code section immediately following Code
Section 48-7-27, to be designated Code Section 48-7-27.1, to read as
follows:
"48-7-27.1.
(a) In addition to any applicable adjustments pursuant to Code Section 48-7-27, Georgia taxable net income of an individual shall be the taxpayer´s federal adjusted gross income, as defined in the Internal Revenue Code of 1986, as amended, less the adjustment provided for pursuant to this Code section.
(b) Military income received by a taxpayer who is a member of the national guard or any reserve component of the armed forces of the United States received while such individual was called to active duty for a continuous period exceeding three weeks shall be excluded from the Georgia taxable net income of that individual."
"48-7-27.1.
(a) In addition to any applicable adjustments pursuant to Code Section 48-7-27, Georgia taxable net income of an individual shall be the taxpayer´s federal adjusted gross income, as defined in the Internal Revenue Code of 1986, as amended, less the adjustment provided for pursuant to this Code section.
(b) Military income received by a taxpayer who is a member of the national guard or any reserve component of the armed forces of the United States received while such individual was called to active duty for a continuous period exceeding three weeks shall be excluded from the Georgia taxable net income of that individual."
SECTION 2.
This Act shall become effective upon its approval by the
Governor or upon its becoming law without such approval and shall be applicable
to all taxable years beginning on or after January 1, 2003.
SECTION 3.
All laws and parts of laws in conflict with this Act are
repealed.