Tax Relief

State Home Adopts Tax Reduction Act | Nationwide information

ATLANTA – The Georgia House of Representatives passed four laws to reduce taxes for Georgia families and businesses, create jobs, and expand economic opportunities across the state. These measures include the Tax Relief Act of 2021, the Georgia Economic Recovery Act of 2021, the Georgia Economic Renewal Act of 2021, and the House Rural Development Council re-authorization.

“Our House of Representatives is focused on expanding economic opportunities for every Georgian,” said spokesman David Ralston, R-Blue Ridge. “Today we cut taxes on Georgians and passed legislation to create jobs from Blue Ridge to Bainbridge. I take pride in our continued efforts to ensure Georgia remains a great place to live, work, and raise families. “

The Tax Relief Act of 2021 (HB 593), sponsored by Rep. Shaw Blackmon, cuts income taxes by $ 140 million.

The bill increases the standard federal income tax filing allowance for a single taxpayer by $ 800 and the standard allowance for a married couple filing a joint tax return to $ 1,100.

“The Tax Relief Act of 2021 will cut taxes for Georgians and allow them to keep more of their hard-earned money,” said Blackmon, R-Bonaire, chairman of the Ways & Means Committee. “This measure follows the tax cuts that the House passed in 2018 and 2020 to demonstrate our commitment to keep the Georgians’ tax burden as low as possible.”

The Georgia Economic Recovery Act of 2021 (HB 586), sponsored by Rep. Sam Watson, provides or extends a range of sales tax exemptions for manufacturing and other businesses to encourage job creation and economic growth. The measures include the expansion of sales tax exemptions for projects of regional importance and sales tax exemptions for deliveries in selected manufacturing industries. It also exempts tickets for art performances from sales tax to fuel an industry devastated by COVID-19.

“Our Georgia Economic Recovery Act of 2021 supports businesses and industries that create jobs across our state by incentivizing investment,” said Watson, R-Moultrie, chairman of the state’s subcommittee on resources. “We have worked hard to keep the corporate tax burden reasonable, and this work will continue that work.”

The Georgia Economic Renewal Act of 2021 (HB 587) provides a series of business tax credits to encourage job creation and attract strategic industries to Georgia. The measures include a tax credit intended to encourage medical device manufacturers to settle in Georgia and create jobs there. Originally proposed by Governor Brian Kemp, this measure would make Georgia less dependent on other states and nations for medical care. House Bill 587 also provides an additional high-impact aerospace defense project tax credit to attract such national defense projects to Georgia.

“Georgia has been the # 1 state for business year after year – and we intend to keep it that way,” said Rep. Bruce Williamson, R-Monroe, the secretary / treasurer of the Majority Caucus. “We want high-paying jobs to come to Georgia and strengthen our economy by making products that benefit our state and its people. I am proud to be committed to job creation and thank our colleagues for supporting this important piece of legislation.

District 151 Representative Gerald Greene stated, “These laws were a commitment I made (to constituents) in this last election. I will continue to work to bring help to our rural areas. It takes a lot of work and effort to bring about change in “second Georgia”. Great progress is being made in our district by working together. “

Greene represents House District 151 in the Georgia General Assembly, where he serves as Chairman of State Properties. District 151 includes Clay, Early, Stewart, Webster Calhoun, Dougherty, Randolph, Terrell, and Quitman Counties. Greene can be reached at the Capitol at (404) 656-9210 or by email at Gerald.Greene@house.ga.gov.

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