Código Oficial de Georgia Anotado

Título 48. REVENUE AND TAXATION · Capítulo 7. INCOME TAXES · Artículo 2. IMPOSITION, RATE, COMPUTATION, EXEMPTIONS, AND CREDITS

48-7-29.4. Tax credits for disaster assistance funds received.

Vigente2 versiones impresas

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

El texto siguiente es la ley tal como la imprime el estado, en inglés.

Effective January 1, 2025.Vigente hoy: Effective January 1, 2025.

(a)
A taxpayer who receives disaster assistance during a taxable year from the Georgia Emergency Management and Homeland Security Agency or the Federal Emergency Management Agency shall be allowed a credit against the tax imposed by Code Section 48-7-20 in an amount equal to $500.00 or the actual amount of such disaster assistance, whichever is less. The commissioner may require adequate supporting documentation showing that the taxpayer received such assistance.#
(b)
In no event shall the total amount of the tax credit under this Code section for a taxable year exceed the taxpayer’s income tax liability. Any unused tax credit shall be allowed the taxpayer against no more than three succeeding years’ tax liability. No such credit shall be allowed the taxpayer against prior years’ tax liability.#
(c)
The commissioner shall be authorized to promulgate any rules and regulations necessary to implement and administer the provisions of this Code section.#

Las notas siguientes se imprimen con la sección, pero no son ley promulgada (O.C.G.A. § 1-1-1(c)). Se muestran aparte del texto.

History

Code 1981, § 48-7-29.4, enacted by Ga. L. 2000, p. 410, § 1; Ga. L. 2016, p. 91, § 21/SB 416; Ga. L. 2024, p. 794, § 1-1/HB 1181, effective January 1, 2025.

Delayed effective date

Code Section 48-7-29.4 is set out twice in this Code. This version is effective January 1, 2025. For version effective until January 1, 2025, see the preceding version.

Amendments

The 2024 amendment, effective January 1, 2025, inserted “no more than three” in subsection (b). See Editor’s notes for applicability.

Editor's notes

Ga. L. 2024, p. 794, § 4-1/HB 1181, not codified by the General Assembly, makes the amendments to this Code section by Part I applicable only to the unused tax credits generated during the taxable years beginning on or after January 1, 2025.

Leer la página oficial (el PDF del estado, abierto en la página de la que se leyó este texto).

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

Texto leído de t48-ch7-8-(v37)-2024-pdf.pdf, Volumen V37, edición 2024, página 129; acción de fusión: carried; SHA-256 del archivo 94ae5e1b204a.

Effective until January 1, 2025.Ya no está vigente tal como está impresa (Effective until January 1, 2025.)

(a)
A taxpayer who receives disaster assistance during a taxable year from the Georgia Emergency Management and Homeland Security Agency or the Federal Emergency Management Agency shall be allowed a credit against the tax imposed by Code Section 48-7-20 in an amount equal to $500.00 or the actual amount of such disaster assistance, whichever is less. The commissioner may require adequate supporting documentation showing that the taxpayer received such assistance.#
(b)
In no event shall the total amount of the tax credit under this Code section for a taxable year exceed the taxpayer’s income tax liability. Any unused tax credit shall be allowed the taxpayer against succeeding years’ tax liability. No such credit shall be allowed the taxpayer against prior years’ tax liability.#
(c)
The commissioner shall be authorized to promulgate any rules and regulations necessary to implement and administer the provisions of this Code section.#

Las notas siguientes se imprimen con la sección, pero no son ley promulgada (O.C.G.A. § 1-1-1(c)). Se muestran aparte del texto.

History

Code 1981, § 48-7-29.4, enacted by Ga. L. 2000, p. 410, § 1; Ga. L. 2016, p. 91, § 21/SB 416.

Delayed effective date

Code Section 48-7-29.4 is set out twice in this Code. This version is effective until January 1, 2025. For version effective January 1, 2025, see the following version.

Editor's notes

Ga. L. 2000, p. 410, § 2, not codified by the General Assembly, makes this Code section applicable to all taxable years beginning on or after January 1, 2000.

Code Commission notes

Ga. L. 2000, p. 410, § 1; Ga. L. 2000, p. 451, § 1; Ga. L. 2000, p. 845, § 1; and Ga. L. 2000, p. 1445, § 2 each enacted a Code Section 48-7-29.4. Pursuant to Code Section 28-9-5, in 2000, the Code section enacted by Ga. L. 2000, p. 451, § 1 was redesignated as Code Section 48-7-29.5, the Code section enacted by Ga. L. 2000, p. 845, § 1 was redesignated as Code Section 48-7-29.6, and the Code section enacted by Ga. L. 2000, p. 1445, § 2 was redesignated as Code Section 48-7-29.7.

Cross references

Emergency management, § 38-3-1 et seq.

Leer la página oficial (el PDF del estado, abierto en la página de la que se leyó este texto).

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

Texto leído de t48-ch7-8-(v37)-2024-pdf.pdf, Volumen V37, edición 2024, páginas 128 a 129; acción de fusión: carried; SHA-256 del archivo 94ae5e1b204a.