Georgia Tax Overhaul Gains Traction

By: Associated Press
By: Associated Press

Atlanta, GA (AP) - A legislative panel has unveiled a bill that
would cut the personal income tax rate but also add sales tax to
new goods and services.

The Special Joint Committee on Georgia Revenue Structure took
the wraps off the bill at a state Capitol hearing Monday afternoon.
They could vote on the bill as soon as Tuesday.

The tax plan is scaled back from the sweeping recommendations
put forward by a tax panel created to study the state's tax code.

The bill presented Monday would lower the personal income tax
rate from 6 percent to 4.5 percent but would also cap some itemized
deductions. It would exempt energy sold for manufacturing and
mining from sales tax and would tax automobile repair and
maintenance.
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House Bill 387: www.legis.ga.gov

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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