Georgia Governor Signs Law Conforming to Internal Revenue Code

The Georgia Governor signed a law concerning revenue and taxation. The law includes: 1) for taxable years beginning on or after Jan. 1, 2025, conforming to the Internal Revenue Code, as amended, on or before Jan. 1, 2026, with certain exceptions; 2) providing a cap on tax credits for qualified low-income buildings; and 3) temporarily suspending the collection of motor fuel taxes. The law is applicable for all taxable years beginning on or after Jan. 1, 2026, except as otherwise noted. [H.B. 1199, enacted 03/20/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.