RAW: Gov. Kemp signs 2 major tax bills
Gov. Brian Kemp is signing two tax relief bills: one accelerates Georgia’s largest-ever state income tax cut, and the other authorizes a $1 billion special rebate.
Georgia taxpayers will soon see tax rebates of $250 to $500 hitting their bank accounts – as long as they meet the eligibility qualifications.
The one-time tax refund is expected to be sent out soon after the deadline to file taxes was pushed back to the start of May.
What we know:
In April, Gov. Brian Kemp signed House Bill 112 into law, authorizing a $1 billion special state income tax refund.
The one-time rebate is available to eligible taxpayers who meet specific requirements and will be issued after the processing of 2024 state returns.
The rebate amounts are:
- $250 for individuals filing as single or married filing separately
- $375 for those filing as head of household
- $500 for couples filing jointly
The refunds will be issued based on the regular refund instructions provided on each taxpayer’s return – either with a paper check or through direct deposit.
The rebates will not be considered taxable income under Georgia law. However, they may be reduced or offset if the recipient owes outstanding debts to the state. No interest will be paid on the refund amounts.
Georgia tax refund rebate eligibility
You Deeper:
To qualify for the rebate, taxpayers must:
- File Georgia income tax returns for both 2023 and 2024
- Not be claimed as a dependent on someone else’s 2023 return
- Be a full-time Georgia resident for tax purposes
What they’re saying:
“Here in Georgia, we safeguard every dollar of taxpayer money, because we know it belongs to the people, not the government,” Kemp said. “While other states are running up budget deficits and raising taxes on their citizens, we’re investing in the priorities of our state while further cutting taxes and returning more than a billion dollars to hardworking Georgians! That’s on top of the tax relief we’ve given in prior years and is a direct result of our conservative budgeting. As families fight through the impacts of high prices over the last several years, I want to thank our partners in the legislature for helping to make this possible and for supporting their fellow Georgians in this way.”
What’s next:
State officials say refunds should start popping up next week if you filed your taxes by the May 1 deadline.
You can check the status of your surplus tax refund here.
The Source: Information for above story provided by the State of Georgia and previous FOX 5 reporting.
