The Georgia income tax could one day become a thing of the past.
Several state senators have signed on to sponsor Senate Resolution 8, a proposal that would create a constitutional amendment to phase out the state’s income tax.
If the resolution is approved by the General Assembly and signed by the governor, Georgia voters would see this question on a future ballot: “Shall the Constitution of Georgia be amended so as to limit the authority of the General Assembly to impose an income tax and to phase out existing income taxes?”
A copy of the resolution is attached to this article in PDF form.
If voters approve the amendment, the state would phase out the income tax completely by the year 2027. The process would be gradual, reducing the tax rate by 0.5 percent every year until the income tax is eliminated.
“Eliminating the state income tax is the right thing to do for Georgia,” said Sen. John Albers, R-Roswell, in a release last month; Albers is one of the co-sponsors of the bill. “I am optimistic that my colleagues in both chambers will recognize the significance of eliminating Georgia’s income tax to support job creation and reduce the burden on our taxpayers.”
According to Albers’ release, many economists suggest that one of the most effective ways to promote job creation is to systematically eliminate the state income tax.
Several states do not have an income tax, including Florida, Tennessee, Texas, Wyoming, Washington, New Hampshire, Nevada and Alaska. Georgia's income tax rate is currently 6 percent.
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