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03 LC 18 1999
House Bill
9
By: Representatives Franklin of the 17th, Joyce of the 2nd, Massey of the 24th and White of the 3rd, Post 2
By: Representatives Franklin of the 17th, Joyce of the 2nd, Massey of the 24th and White of the 3rd, Post 2
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 full or part time member of the military service or armed services of the
United States or any reserve component thereof 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 full or part time member of the military service or armed forces of the United States or any reserve component thereof shall be excluded from the Georgia taxable net income of an 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 full or part time member of the military service or armed forces of the United States or any reserve component thereof shall be excluded from the Georgia taxable net income of an 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,
2004.
SECTION 3.
SECTION 3.
All laws and parts of laws in conflict with this Act are
repealed.