ATLANTA – Gov. Brian Kemp, joined by First Lady Marty Kemp, Lt. Gov. Burt Jones, House Speaker Jon Burns, and members of the General Assembly announced Monday their shared priority of introducing and passing legislation in the upcoming regular session of the General Assembly that will accelerate a decrease in the state individual income tax rate.
This legislation will amend HB 1437, which provides for a step down of 10 basis points in the income tax rate, starting in 2025 and for each taxable year thereafter until the rate reaches 4.99%. By accelerating the reduction, the rate for Tax Year 2024 will be 5.39%, rather than the 5.49% set by HB 1437. This will mark a cut of 36 basis points from the Tax Year 2023 rate of 5.75%.
The Gwinnett Daily Post is a daily newspaper published in Gwinnett County, Georgia, and serves as the county's legal organ. The newspaper is owned by Times-Journal Inc. and prints Wednesday and Sunday each week.