Income Tax Cut

"Georgia Governor Kemp Proposes Fast-Track for State's Largest Income Tax Cut"

Georgia Governor Brian Kemp is introducing legislation to accelerate the decrease in the state individual income tax rate. The amendment will bring the tax rate for Tax Year 2024 down to 5.39%, a cut of 36 basis points from the previous rate. The move is estimated to save Georgians approximately $1.1 billion in 2024 and is part of the governor's efforts to provide relief to families burdened by the current economic situation.