Governor Deal signs bill to reduce GA income tax - WALB.com, South Georgia News, Weather, Sports

Governor Deal signs bill to reduce GA income tax

For the first time in many years, the state is lowering the income tax. (Source: File) For the first time in many years, the state is lowering the income tax. (Source: File)
District 173 House Representative Darlene Taylor (Source: WALB) District 173 House Representative Darlene Taylor (Source: WALB)
THOMASVILLE, GA (WALB) -

For the first time in many years, the state is lowering the income tax.

This is the largest single tax cut for Georgians since 1937.

One of the recent bills signed by Governor Nathan Deal reduces the income tax rate for individuals and businesses from 6 percent to 5.75 percent starting January 2019.

It also reduces the tax rate to 5.5 percent, effective January 2020.

District 173 House Representative Darlene Taylor said she's excited about the changes.

"It's not much but it's a reduction and that's the first time in awhile to say Georgia has actually reduced it. We would like to do more but we can't until the funds are there," said Taylor.

According to lawmakers, the bill is expected to produce approximately $5 billion in taxpayer savings over the next five years.

Copyright 2018 WALB. All rights reserved.

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