Conservation easements have long been an attractive tool for those seeking to minimize their tax bill. After all, it is a low-cost method of getting a sizeable tax deduction. But what should be an incentive for the environmental or historical preservation of land is instead a frequent avenue for tax
This Note addresses the growing issue of surprise medical bills and how the United States Tax Code can be used to prevent many patients from receiving these bills. Part I provides a background on surprise billing and market factors that have led to an increase in the bills as well
The struggle between the Internal Revenue Service (IRS) and business taxpayers regarding the discovery of tax accrual work papers is not a new battle. The IRS, seeking a road map of the corporation’s vulnerable tax positions, argues that tax accrual work papers are prepared for ordinary business purposes and
The primary goal of this bill was to provide tax relief and create jobs while also encouraging investors to support local business development. The bill sought to accomplish this goal by giving employers a credit against contributions if they hired persons who were receiving unemployment benefits and by providing income
This resolution would have amended the Constitution making it legal for special transportation districts to impose a 1 percent local option sales and use tax for various transportation projects. Voters in these regional districts would have had the authority to vote to impose such a tax. SR 845 did not
The Act provides authority for Fulton County to call a referendum on a special purpose local option sales tax increase to eight percent for the county to use to pay for water, sewer projects, and associated costs. If Fulton County does not call a referendum within ten days of the
The Act provides for certain technical corrections and modifications to Georgia's income tax and sales and use tax laws. The Act also contains provisions relating to the proper administration of revenue and taxation. The Act revises and clarifies the level of tax liability for limited liability partnerships and
The Act provides for an income tax credit to individuals and corporations who lease or purchase a new low-emission vehicle or who convert an existing conventionally fueled vehicle to a low emission vehicle on or after January 1, 1998. The new or converted vehicle must be registered in an area
The Act provides for changes in the income taxation of nonresident members of resident limited partnerships. A nonresident member of a resident limited partnership which derives income exclusively from buying, selling, dealing in, or holding securities on its own behalf, not as a broker, is not required to include on
This Act provides a basis for the proper taxation of financial institutions conducting business within the state. The Act allows the state to tax a financial institution's percentage of business conducted within the state. The Act eliminates the requirement that the financial institution be domiciled in the state
The Act clarifies how service companies are required to report net income attributable to Georgia. Service companies must allocate their income based on a three-factor formula, which is a similar method to that which nonservice companies have been required to use. The Act allows a service company to petition the
The Act creates judicial in rem tax foreclosure proceedings to avoid the inefficiency and lengthiness of nonjudicial foreclosure proceedings, which commonly result in nonmarketable and uninsurable titles to real property. The Act provides procedures and standards for the filing of a petition for foreclosure, a petition hearing, notice provisions, foreclosure
The Act, called the Georgia Business Expansion Support Act of 1994, broadens the 1992 version of the same Act, by providing tax credits for businesses that create new jobs, make certain investments, and provide job retaining and child care for employees. The credits are available to qualified businesses in incremental
