07 LC 18
5887
House
Bill 67
By:
Representatives Martin of the
47th,
Royal of the
171st,
Collins of the
27th,
Knight of the
126th,
Scott of the
2nd,
and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Chapter 13 of Title 48 of the Official Code of Georgia Annotated, relating
to specific, business, and occupation taxes, so as to repeal the corporate net
worth tax; to provide an effective date; to repeal conflicting laws; and for
other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Chapter
13 of Title 48 of the Official Code of Georgia Annotated, relating to specific,
business, and occupation taxes, is amended by revising Article 4, relating to
the corporate net worth tax, in its entirety as follows:
"ARTICLE
4
48-13-70.
On
and after January 1, 2008, there shall be no corporate net worth taxes
whatsoever levied or collected under this article and no corporate net worth
returns are required."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.