What Revisions of Tax Code Could Mean

March 25, 2011  |  

(AJC) — Haircuts, groceries and Girl Scout cookies appear to have escaped the tax man, as Republican legislators near completion on a tax reform bill many considered dead weeks ago.  Lawmakers on a special committee are close to turning a massive restructuring of the state tax code into a bill that could be unveiled Monday, House Ways and Means Chairman Mickey Channell said Thursday.  The plan lowers the personal income tax rate from 6 percent to 4.5 percent, said Channell, R-Greensboro. He pointed to a lower income tax rate as a way to make Georgia more competitive for jobs, but House Majority Leader Larry O’Neal, R-Bonaire, noted that many people will end up paying essentially the same in income taxes.

Read More…

 

Trending on MadameNoire

Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN