Gov. Kemp signs state income tax cuts into law. Here’s what that means for you: - WSB Atlanta

ATLANTA — Gov. Brian Kemp signed new income tax cuts into law on Tuesday.

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Right now, the state income tax is 5.75%.

The cut goes into effect on January 1, 2024 and then cuts your state income taxes incrementally over the next five years. By 2029, the tax rate will fall from 5.75% to 4.99%.

The gradual introduction of the tax cuts will allow the state to adjust and adapt to the changes. In the event of a recession, the income tax cut for that year would be delayed a year.

Channel 2′s Richard Elliot is breaking down what the cuts could mean for your paycheck, on Channel 2 Action News starting at 5 p.m.

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source: https://www.wsbtv.com/news/local/atlanta/gov-kemp-expected-sign-state-income-tax-cuts-into-law-heres-what-that-means-you/MWQC4ZMKSRHUPAU4WEC7ICKPWE/

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