Georgia's state government ended the 2022 budget year in June with $6.6 billion in surplus cash. Gov. Brian Kemp has plans to spend more than $3 billion through a combination of one-time tax givebacks.
Georgia senators have proposed a much more modest income tax cut than the $1.1 billion plan passed by the House, and also want to sharply reduce tax breaks for film and television productions that have been credited with transforming the state into one of the world's biggest filming hubs.
Special state income tax refunds paid out of Georgia's historic budget surplus could be on their way to taxpayers in six to eight weeks. Gov. Brian Kemp on Wednesday signed the $1.1 billion refund plan into law.
Progressives are pushing for a wealth tax targeted at the ultra rich like Jeff Bezos and Elon Musk. However, as it turns out, taxing the richest people in the world is easier said than done.
Tesla shares are falling after Elon Musk proposed to sell 10% of his shares in the company if his Twitter followers agreed.
"Today, the President released his 2020 federal income tax return, continuing an almost uninterrupted tradition," the White House said on Monday, the deadline to file income tax returns.
No matter what you do for a living, odds are you paid more federal income tax than Trump did the year he took office. Analysts say real estate tax breaks allowed him to avoid high tax bills.
The rules embedded in the new federal tax law could mean many Georgians will pay higher state income tax. State legislators want to find a way to give...