House Bill (H.B.) 949, passed by the Georgia House of Representatives in March of 2020, would reduce the top Georgia income tax rate from 5.75 percent to a flat rate of 5.375 percent.1 H.B. 949 serves as the basis for this study’s analysis of the fiscal and economic effects of reducing the top income tax rate while implementing a flat income tax across all income groups. Moreover, this study offers potential revenue offsets to a reduction in the income tax, such as broadening the sales tax base, increasing the sales tax rate, or removing/reducing the film tax credit.
2021-11-15-RevisedGeorgiaIncomeTaxReformExplore the wealth-building potential of gold investment – a tangible asset offering stability and enduring value.
