Georgia’s Republican-controlled Senate voted Thursday to eliminate personal income taxes for two-thirds of taxpayers and to partially pay for it by eliminating some tax incentives, including a sales tax exemption for data centers.
The Senate voted 32-18 to pass the measure (SB 476) that would make the first $50,000 of income for individual filers tax-free. Married couples filing jointly would pay no state income tax on their first $100,000 earned. The state’s current standard deduction is $12,000 for individuals and $24,000 for couples.
The bill would also lower Georgia’s state income tax rate from 5.19% to 4.99%. ...