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Georgia Conforms to Most Features of Virus Relief Act (1)

July 1, 2020, 10:44 PMUpdated: July 2, 2020, 4:29 PM

Georgia will conform to most tax features of the federal coronavirus relief law, but the state carved itself out of the net operating loss provisions and the new benefits for losses by noncorporate taxpayers.

Gov. Brian Kemp (R) signed H.B. 846 Tuesday afternoon, conforming Georgia to the federal tax code as of March 27, 2020, the date President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security Act. The new law also creates a tax credit benefiting businesses manufacturing personal protective equipment during the pandemic.

“The Legislature conformed to everything in the CARES Act back to 2019, except they ...