Georgia Set to Cut Income Taxes, Issue Latest Round of Rebates

A pair of tax reform bills headed to the desk of Georgia Gov. Brian Kemp (R) would make the state the latest to slash income taxes this year.

The full state legislature signed both measures on Thursday and Kemp is expected to sign them. The first would cut the state’s income tax rate of 5.29% to 5.19% retroactive to the start of this year. It would then decrease rates by 10 basis points, or 0.1%, annually starting in 2026 until the rate reaches 4.99%.

The other bill would issue an automatic, one-time tax rebate of up to $500 ...