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A bill that would “lighten the load for small business owners” is on the desk of Governor Brian Kemp, awaiting his signature after sailing through the Senate late last week. House Bill 808 amends the way small business owners are taxed on personal property, specifically by reducing taxes on tangible personal property items that have traditionally been subjected to annual taxation.
“Small businesses are the lifeblood of the Georgia economy,” said state Sen. John Albers, R-Roswell, who carried the bill in the Senate. “I was so proud to work with NFIB and Rep. (Mike) Cheokas to pass House Bill 808. This legislation lowers the tax burden, allowing our businesses to grow and thrive.”
The timing of the legislation is noteworthy, Albers said, coinciding with record levels of inflation and government expenditure. “The bill’s relevance in cushioning the blow from skyrocketing expenses, often traced back to federal monetary policies.”
State Rep. Mike Cheokas, R- Americus, sponsored the bill in the House. “This is a great day for businesses in Georgia. I want to thank Rep. Shaw Blackmon, chairman of the House Ways and Means Committee, for his continued support and guidance in getting this measure passed in the Georgia House of Representatives,” said Cheokas. “I am equally grateful to the hard work of Sen. Albers for navigating H.B. 808 through the Senate. This was a team effort. I hope this will be the first step in reducing the burden of high taxes and prohibitive regulations that adversely affect businesses in Georgia.”
NFIB State Director Hunter Loggins released the following statement on HB 808.
“House Bill 808 raises the threshold for paying this onerous tax,” Loggins said. “Small businesses already pay sale taxes on equipment, desks, and other property. The tangible personal property tax…
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