Georgia Governor Brian Kemp signed a state income tax refund bill on Wednesday.
Income Tax Refund Bill HB 162 would provide a special state income tax refund to Georgians who filed returns for both the 2021 and 2022 tax years. According to the press release, the one-time tax relief is included in the AFY 2023 budget. It is anticipated to repay more than $1 billion in surplus funds to taxpayers. “Despite some in Washington D.C. demanding tax increases, we are returning money to working Georgians,” said Governor Brian Kemp.
Income Tax Refund Bill Signed By The Governor
Furthermore, while they want to grow the government, we are expanding opportunity. We returned more than a billion dollars to state taxpayers the previous year, and I am glad to report that we will do so again this year. Thank you to the General Assembly members who voted in favor of our motion to assist Georgian families facing a 40-year high inflation rate.
During six to eight weeks, the Department of Revenue (DOR) is projected to start distributing exceptional income tax refunds. According to the notice, taxpayers must file their 2021 and 2022 taxes before receiving their returns. For taxpayers who file on or before April 18, the DOR will begin issuing refunds on July 1.
According to the Tax Refund Bill press release, married individuals submitting joint forms may receive a maximum return of $500, head of household filers may get a total refund of $375, and solo tax filers may receive a maximum refund of $250, depending on their tax liability.
A FAQ page about the tax refund for this year will be available soon on the DOR website. The DOR website will soon include a new function that will allow Georgia taxpayers to check the accuracy of their special tax returns. It is expected to go live within six to eight weeks.
