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State Income tax phase-out

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http://www.ledgernews.com/news/weekly_news/cherokee-senators-cosponsor-income-tax-phase-out/article_dd5645bc-7534-11e2-9ca1-001a4bcf6878.html

 

Sen. Brandon Beach, R-Alpharetta, Sen. Barry Loudermilk, R-Cassville, and Sen. John Albers, R-Roswell, are cosponsoring Senate Resolution 8 in the state Senate.

SR 8 is a proposal introduced by Sen. Josh McKoon, R-Columbus, that would create a constitutional amendment to phase out the Georgia state income tax. The resolution is now in the Senate Finance Committee where it is under consideration.

“In order to continue developing Georgia’s economic competitiveness and promoting job creation, we must move toward eliminating the income tax,” Beach said. “I intend on working diligently to pass this important resolution which will allow hard working Georgians to take home more of their paycheck.”

The Georgia income tax rate is 6 percent. Several states do not have an income tax including Florida, Tennessee, Texas, Wyoming, Washington, New Hampshire, Nevada and Alaska. Other states have the abolition of their state income tax under consideration, including North Carolina, Louisiana and Nebraska.

If approved by Georgia voters, SR 8 would phase out the income tax completely by the year 2027. This process would be gradual, reducing the tax rate by .5 percent every year until the income tax is eliminated.

Amendments to the Georgia Constitution may be introduced in either the House of Representatives or the Senate.

An amendment must be approved by a two-thirds majority of each legislative chamber in order for it to be placed on the ballot for voter approval.

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Never fails. When there is something that I like that Florida does, Georgia wants to do it, too.

 

FYI, when and if the income tax is phased out, look for higher property taxes and more fees.

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Never fails. When there is something that I like that Florida does, Georgia wants to do it, too.

 

FYI, when and if the income tax is phased out, look for higher property taxes and more fees.

They won't do this until they have another multiple revenue stream.... increased Property tax, increased gasoline tax, food tax, every nook and cranny tax.....etc.

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Yeah, my friend that lives in PCB was telling me about her car tags and such the other day. They go by the weight of the car and the tax does not go down as the car value goes down. It stays the same every year. She has a new Tahoe and a 90's model 300Z (with about 60K miles) and she pays about $700 a year for her car tags!!

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Why wait for 2027? Do it now.

 

Its a political game. They cut income tax and raise sales tax and property tax. I always laugh at folks that think its so great to live in Fl or Tx because you don't pay income tax....but your sales tax and property tax is through the roof.

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In TN there is not state income tax. Tags are $25-$35 a year, depending on where you live, and property tax is nearly half of what it is here. Sales tax is 9.25%. I would rather pay the higher sales tax.

 

If I could be in TN, I would. We tried moving there once, and almost made it, then the economy collapsed. I'm not a fan of Georgia. But I deal with it. Lol

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TN has 9.25% retail sales tax and no income tax.

 

I recently sold a business I had in Chattanooga. I saw a considerable disparity in pricing between Paulding Co and Chattanooga. One example: a Gal of WalMart milk in Paulding might be $2.79. In TN, the very next day, I saw the same milk for $4.19.

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In TN there is not state income tax. Tags are $25-$35 a year, depending on where you live, and property tax is nearly half of what it is here. Sales tax is 9.25%. I would rather pay the higher sales tax.

 

If I could be in TN, I would. We tried moving there once, and almost made it, then the economy collapsed. I'm not a fan of Georgia. But I deal with it. Lol

Well don't let the door hit ya! :D You know I'm kidding, I just figured I would say it before someone else did.

 

I plan to move to Colorado soon as my kids are grown.

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Of course as they say their are no free lunches and the revenue will have to be made up in other ways. Higher property and sales taxes. Toll-ways and user fees all of which will come down the hardest the elderly living on fixed incomes and their life savings.

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I'm all for getting rid of our State income taxes, will make us more competitive with some of our neighbors, should bring in more businesses. I'd also be more in favor of raising sale taxes instead of anything else being raised. Sale taxes = anyone living in this state that don't pay squat. (visitors and illegals)

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If I could be in TN, I would. We tried moving there once, and almost made it, then the economy collapsed. I'm not a fan of Georgia. But I deal with it. Lol

 

If I were going to give the world an enema, Chattanooga would be where I'd insert the syringe. It is the A-hole of creation, and the rest of TN isn't much better. Pretty scenery and all that, but dealing with the State and City governments to operate a business requires much more patience than I have.

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If I were going to give the world an enema, Chattanooga would be where I'd insert the syringe. It is the A-hole of creation, and the rest of TN isn't much better. Pretty scenery and all that, but dealing with the State and City governments to operate a business requires much more patience than I have.

I will punch you in the throat.

 

:lol: Not really. I am from there and I miss it, greatly. Idk about all of that, as I've never had a business there. They do have issues with government there, but it's not any worse than here. I am biased; my entire family lives there, and all of my close friends and their children.

 

I also miss the fact I can get anywhere in 20 minutes or less no matter where. Traffic is a joke. And there is always stuff to do. :(

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Florida is able to get by without a state income tax because they collect such a large amount of tax revenue from tourists. In addition to sales taxes on all of those lovely souvenirs, they collect sizable bed taxes from hotel guests, and many areas have various restaurant taxes, as well.

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Well don't let the door hit ya! :D You know I'm kidding, I just figured I would say it before someone else did.

 

I plan to move to Colorado soon as my kids are grown.

Haha! Lol

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Florida is able to get by without a state income tax because they collect such a large amount of tax revenue from tourists. In addition to sales taxes on all of those lovely souvenirs, they collect sizable bed taxes from hotel guests, and many areas have various restaurant taxes, as well.

 

That and the fact you can't go 5 miles down the road without paying 20 dollars in tolls at 10 different toll gates.

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That and the fact you can't go 5 miles down the road without paying 20 dollars in tolls at 10 different toll gates.

Somebody has got to pay for them hurricanes.

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In TN there is not state income tax. Tags are $25-$35 a year, depending on where you live, and property tax is nearly half of what it is here. Sales tax is 9.25%. I would rather pay the higher sales tax.

 

If I could be in TN, I would. We tried moving there once, and almost made it, then the economy collapsed. I'm not a fan of Georgia. But I deal with it. Lol

 

I think that depends where in Tenn. When we were house hunting we looked in Franklin as I could still make the commute to Bowling Green. Property tax was no where near that cheap....and as we were close to Nashville the sales tax was higher as there is also a "city" sales tax. The sales tax is also on EVERYTHING including food etc. In the end it all evens out.

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We're now living in FL. No state income tax. The sales tax is cheaper than it is in Atlanta.

Gas prices are about the same as GA. As of this morning our Sam's club was just a penny higher than Sam's in Hiram.

 

The property tax is just a little higher than I was paying in GA. But my car taxes each year are about 20% of what I was paying in GA.

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We're now living in FL. No state income tax. The sales tax is cheaper than it is in Atlanta.

Gas prices are about the same as GA. As of this morning our Sam's club was just a penny higher than Sam's in Hiram.

 

The property tax is just a little higher than I was paying in GA. But my car taxes each year are about 20% of what I was paying in GA.

 

And you guys cuss those old blue haired snow birds all winter don't you? :rofl:

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Never fails. When there is something that I like that Florida does, Georgia wants to do it, too.

 

FYI, when and if the income tax is phased out, look for higher property taxes and more fees.

 

I wouldn't be surprised; HOWEVER, my brother lives in TN. His house is worth three times what mine is AND he pays city and county property taxes, and yet his property tax bill is lower than mine. His sales tax is 9.75% (what...nearly 3% higher than ours?), and he has no ad valorem tax (which we don't now, either...I'm just comparing).

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1360859676[/url]' post='3768216']

Of course as they say their are no free lunches and the revenue will have to be made up in other ways. Higher property and sales taxes. Toll-ways and user fees all of which will come down the hardest the elderly living on fixed incomes and their life savings.

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And you guys cuss those old blue haired snow birds all winter don't you? :rofl:

I don't see too many of them around. The ones do I see are permanent residents here and see things like the rest of us.

When we moved here I was amazed at the much lower percentages of minorities who are living here.

 

 

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We just spent a month in Florida. A convenience store, tied to Kroger, advertised milk for "supermarket price". It was actually CHEAPER at the convenience store than Publix or Winn Dixie there, Kroger here or even Walmart either place.

TN has 9.25% retail sales tax and no income tax.

 

I recently sold a business I had in Chattanooga. I saw a considerable disparity in pricing between Paulding Co and Chattanooga. One example: a Gal of WalMart milk in Paulding might be $2.79. In TN, the very next day, I saw the same milk for $4.19.

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I only hear home owners insurance is very high.

Better then Georgia...

 

1360866593[/url]' post='3768278']

We're now living in FL. No state income tax. The sales tax is cheaper than it is in Atlanta.

Gas prices are about the same as GA. As of this morning our Sam's club was just a penny higher than Sam's in Hiram.

 

The property tax is just a little higher than I was paying in GA. But my car taxes each year are about 20% of what I was paying in GA.

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Where in Florida determines your insurance. We have been told north of I-10 it's not bad. We have looked almost exclusively north of I-10. The house we're currently trying to buy is probably 10 miles from I-10. NORTH! good.gif

 

I only hear home owners insurance is very high.

Better then Georgia...

 

 

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