The Act provides a definition for periodic payment concerning pensions, annuities, taxable fringe benefits, interest, and dividends. A payor of a periodic payment must withhold taxes from such payment in the same manner as if the payment were wages paid to an employee. Further, the Act includes an option for
HB 536 clarifies which dividends received from foreign sources a corporation may deduct from its net income and creates a job tax credit program for jobs created in less developed areas. HB 384 creates a withholding tax equal to four percent of the distributions made from partnerships, S corporations, and
The Act requires the Commissioner of Revenue to develop a statement describing, in simple language, taxpayer rights, procedures for enforcing those rights, and notifications that the taxpayer will receive courteous and responsive service. The Act further provides for distribution of the statement.
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The Acts create a new system for appeals of ad valorem taxes in the City of Atlanta and Fulton County. First, the Acts require that the Atlanta-Fulton Joint Board of Tax Assessors hear appeals and review assessments in accordance with the general laws of the State of Georgia. Second, the
HB 456 allows Georgia taxpayers to adjust their taxable net income with respect to capital gains in the same manner as is used in computing federal adjusted gross income. HB 1399 expands tax credits for newly created jobs to more counties for certain employers. HB 1739 brings Georgia tax law
The Act allows taxation of standing timber when it is cut or sold. The Act also allows certain qualifying properties to be valued according to current use rather than fair market value to preserve the aesthetic beauty of the State of Georgia and to allow property owners to keep large
The Act provides tax relief in the form of a tax credit to low-income residents and the working poor in Georgia. The tax credit applies to residents with adjusted gross incomes under $19,999. The Act repeals the tax exemption for certain foods for off-premises human consumption.
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The Act amends Chapter 13 of Title 48 of the Official Code of Georgia Annotated by increasing the rate of tax that may be levied by certain counties and municipalities on motel and hotel rooms, lodgings, and accommodations, and by authorizing those counties to expend the funds collected to promote
The Act requires the Tax Commissioner or collector to provide thirty-days'; written notice to a taxpayer that an execution will be issued if delinquent taxes are not paid. The Act also provides that a third party, other than a tax official or employee, may pay the tax and receive
The Act adds a definition to the Revenue Code for &"domesticated foreign corporation,&" amends the Code section relating to taxation of personal property exempting stock of a foreign subsidiary held by a foreign parent corporation, and adds an exemption from the intangible property tax by adding
The Act provides for the enforcement of criminal penalties against those who willfully evade or willfully attempt to evade the payment of taxes or any other amount imposed under Title 48. April 2, 1987
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