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27 December 2012

Josh McKoon Pre-Files Legislation to Gradually Phase Out State Income Tax

Senator Josh McKoon (R - Columbus) pre-filed a bill two weeks ago seeking to phase out Georgia's income tax.

Senate Resolution 8, a proposed constitutional amendment, would cap the state income tax at 5.5 percent beginning 1 January 2016. Each year after that date, the income tax would be reduced by one-half of one percent until the tax rate reaches zero.

Eight states currently have no individual income tax.

If approved by both the House and the Senate, Senate Resolution 8 would be presented to the voters in 2014.