Georgia HB 1055 – May 2010
New law begins a phase out of Georgia’s income tax on retirement income beginning in 2012 and eliminates taxes entirely by 2016 ($65K, $100K; $200K; and all income in 2016 and beyond). Qualifications include taxpayer being 65 or older during any time within the year.
Evidently, under current law, seniors who were 62 or older could exclude up to $35K of income before being levied Georgia income tax.
So what about those who are 62-65? Are they under the current law and still have to pay Georgia income taxes over $35,000 annual income? Probably!
Evidently, under current law, seniors who were 62 or older could exclude up to $35K of income before being levied Georgia income tax.
So what about those who are 62-65? Are they under the current law and still have to pay Georgia income taxes over $35,000 annual income? Probably!
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