Georgia residents will get a tax return as a result of a new bill that was recently signed into law. House Bill 1302, signed by Governor Brian Kemp, ensures that residents will get a one-time return after submitting their taxes with the Georgia Department of Revenue.
If you’re married and filing jointly, you should expect to pay $500. Heads of households will earn $375, while single filers or those who filed separately will receive $250.
During a press conference in Savannah last week, Kemp discussed the new legislation. He emphasized that the one-time tax credit is money returned to residents by the state.
The money is not from President Joe Biden’s American Rescue Plan Act.
Kemp, on the other hand, credited the state’s multibillion-dollar surplus to judgments made during the pandemic, a healthy economy, and careful budgeting by lawmakers.
“This is a one-time payment,” says the narrator. “I feel it is best to return it to the taxpayers who sent it to us when we have more than we need,” Kemp said.
“That’s exactly what we’re doing with the over 1 billion dollars in reimbursements that will be in Georgians’ bank accounts in a matter of weeks.” It’s also how the two-month moratorium on gas tax collection at the pump came about.”
The additional monies are available to “qualified tаxpаyers,” who are defined under the bill as individuals who filed an individual income tax return in both 2020 and 2021.
This calculation excludes non-residents, estates, trusts, and dependents.
While signing the law, Kemp praised legislators for agreeing to “this great relief that we’re fixing to receive hard-working Georgiаns returning over а billion dollаrs of their hаrd-eаrned money that, quite frankly, we didn’t need this year.”
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People who have already filed their 2021 tax returns, which are due on April 18, will get a separate check.