Latest news with #HB112
Newsweek
03-06-2025
- Business
- Newsweek
Millions of Americans To Get Tax Rebate of up to $500
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out. Why It Matters In April, Governor Brian Kemp signed House Bill 112 into law, approving a $1 billion special state income tax refund. It marks the third time in recent years that Georgia has issued a special tax refund, with previous rebates distributed in 2022 and 2023. What To Know The one-time rebate will be distributed to eligible taxpayers after their 2024 state returns have been processed, provided they meet certain criteria. To qualify, taxpayers must have filed their 2023 and 2024 individual income tax returns, contributed to the state tax system, and have no outstanding debts with the Georgia Department of Revenue. Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out. Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out. GETTY The refund amount for individual filers will be based on their 2023 tax liability and is capped at: $250 for single filers or those married filing separately $375 for heads of household $500 for couples filing jointly If you're not sure if you are eligible for a refund, you can check via the Surplus Tax Refund Eligibility Tool, available through the Georgia Tax Center, by inputting your tax year, Social Security number or tax identification number and federal adjusted gross income. If you paid state taxes or received your refund via direct deposit, the rebate will be deposited into your bank account. If you filed by mail, you'll receive a paper check. Under Georgia law, the rebate is not considered taxable income. However, the amount could be reduced or withheld to cover any outstanding debts that may be owed to the state. Similar tax rebates are issued in other states. Checks of up to $400 will be paid to eligible taxpayers in New York after Governor Kathy Hochul confirmed plans for inflation refund checks. What People Are Saying Georgia Governor Brian Kemp, in a statement: "Because we've managed our state's resources wisely, we're again able to return money to hardworking Georgians who know how best to use it. Along with our acceleration of the largest income tax rate cut in state history, this latest refund is just one more way we're working to support the people of our state, their families, and their businesses, because that's not the government's money, it's theirs!" Georgia State Revenue Commissioner Frank O'Connell: "Our department is ready to get this third round of refunds out the door efficiently and securely. We appreciate the continued partnership with the governor and the General Assembly in making this happen." What Happens Next In addition to HB112, the General Assembly passed HB111, reducing the Peach State's income tax rate from 5.39 percent to 5.19 percent.
Yahoo
02-06-2025
- Business
- Yahoo
Georgia residents to receive special tax refund checks soon, Gov. Kemp says
ATLANTA () — Georgia Governor Brian Kemp and the Georgia Department of Revenue (DOR) announced today that the state will begin issuing one-time, special tax refunds this week. The refunds were approved during Georgia's legislative session (HB 112) to provide a one-time tax credit for individual taxpayers who filed income tax returns for the 2023 and 2024 taxable years. Most eligible taxpayers who filed their 2023 and 2024 returns in a timely manner and before the filing deadlines can expect to receive their refund within the coming weeks. 'Because we've managed our state's resources wisely, we're again able to return money to hardworking Georgians who know how best to use it,' said Governor Kemp. 'Along with our acceleration of the largest income tax rate cut in state history, this latest refund is just one more way we're working to support the people of our state, their families, and their businesses, because that's not the government's money, it's theirs!' Individual's refund amount will depend on their tax liability from the 2023 tax year and is capped at: $250 for single filers and married individuals filing separately $375 for head of household filers $500 for married individuals filing jointly In addition to HB 112, the General Assembly also passed House Bill 111, which will reduce Georgia's income tax rate from 5.39% to 5.19%. This was the second acceleration of the income tax cut implementation schedule signed by Governor Kemp in 2022. For more details, including Frequently Asked Questions and refund tracking, visit: Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Axios
12-05-2025
- Politics
- Axios
New Utah laws are in effect. Here's how they'll impact you
Several Utah bills passed during the 2025 legislative session went into effect Wednesday. Why it matters: These laws impact everything from how much money you take home to what your children eat for school lunch. Here are some lesser-known laws worth your attention: ✍️ English learners: HB 42 gives public schools emergency funding if they experience a large enrollment increase of English language learners. 💰 Income tax cut: HB 106 lowers the state income tax rate from 4.55% to 4.5%. 🚗 Window tinting: HB 112 bars law enforcement officers from requesting driver's license or car registration suspensions for window tint violations. 🚫 Food additives: HB 402 prevents public schools from serving foods that contain certain additives, like Red Dye 40. Red Dye 40 is commonly found in candies, cereals, sodas and other packaged snacks. 💧 Water rates: HB 274 allows cities to set up tiered water rates to promote conservation. 🎭 Child actors: HB 322 provides legal protections for child actors and social media influencers and mandates that parents or guardians establish trust accounts for them.
Yahoo
15-04-2025
- Business
- Yahoo
Gov. Kemp signs $1 billion special tax refund bill
ATLANTA, Ga. (WSAV) – Governor Brian P. Kemp, joined by First Lady Marty Kemp, members of the Georgia General Assembly, and state and local leaders signed legislation Tuesday at a ceremony in Cobb County delivering more than $1 billion in significant tax relief to hardworking Georgians through an acceleration of the largest tax cut in state history and a third, one-time tax refund. 'Here in Georgia, we safeguard every dollar of taxpayer money, because we know it belongs to the people, not the government,' said Governor Brian Kemp. 'While other states are running up budget deficits and raising taxes on their citizens, we're investing in the priorities of our state while further cutting taxes and returning more than a billion dollars to hardworking Georgians! That's on top of the tax relief we've given in prior years and is a direct result of our conservative budgeting. 'As families fight through the impacts of high prices over the last several years, I want to thank our partners in the legislature for helping to make this possible and for supporting their fellow Georgians in this way.' Governor Kemp signed the following two bills today. HB 111 – sponsored by Representative Soo Hong, co-sponsored by Representatives Matthew Gambill, Lauren McDonald III, Will Wade, Bruce Williamson, and Shaw Blackmon, and carried in the Senate by Senator Bo Hatchett – accelerates the largest state income tax cut in Georgia history initiated by the signing of HB 1437 in 2022. HB 112 – sponsored by Representative Lauren McDonald III, co-sponsored by Representatives Soo Hong, Matthew Gambill, Will Wade, Alan Powell, and Shaw Blackmon, and carried in the Senate by Senator Drew Echols – authorizes the delivery of $1 billion in one-time special tax refunds of up to $500 per Georgia tax-payer household. With the governor's signature, HB 111 doubles down on the efforts of prior years to reduce the tax burden on Georgians and job creators. With this second acceleration cutting the state income tax rate by another 20 basis points, the total income tax rate will now be down to just 5.19 percent – a decrease of 56 basis points from the original rate of 5.75 percent. This expedited cut will save Georgians another 880 million dollars on their tax returns next year. 'Putting money back in taxpayer pockets and delivering on our promise to further cut the state income tax is a priority I am glad we all can agree on,' said Lt. Governor Burt Jones. 'With Governor Kemp's leadership, Georgia continues to serve as an example for the rest of the nation on how to reduce taxes and give more than a billion dollars back to our citizens, while having a healthy reserve and fiscally sound budget. These bills becoming law today bring us one step closer to eliminating the state income tax, a priority I have always been a proponent of. We are able to do this because we are focused on a stable and prosperous future for all Georgians, while making financial choices that will ensure Georgia's ongoing viability and financial stability. We will continue to make this a priority, and I look forward to seeing more of this great work in the future.' After today, through a one-time special tax refund, Georgians who file jointly will receive $500, single filers will receive $250, and heads of household will get $375. 'The Georgia House was proud to champion HB 111 and HB 112 that further reduce the tax burden on hardworking Georgians and put over $1 billion back in the pockets of our state's taxpayers,' said Speaker Jon Burns. 'These historic measures reiterate our commitment to providing much-needed financial relief to families across the state and delivering on the policies that matter most to our citizens.' Governor Kemp also made note of the General Assembly's ratification of his suspension of the state gas tax in the days following Hurricane Helene to provide direct relief to families, farmers, and businesses as they began to recover from the devastating storm. He is thankful to Lieutenant Governor Burt Jones, Speaker Jon Burns, OPB Director Rick Dunn, and the members of the General Assembly who worked to pass these important pieces of legislation. Click here for more information on the one-time special tax refund. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
