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Georgia Income Tax Rate 2024 (#5308)
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* Georgia Income Tax Rate 2024

* fixing label

* updating rate based on updated law

* 2028 date

* format

---------

Co-authored-by: PavelMakarchuk <[email protected]>
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@vrathi101 @PavelMakarchuk
vrathi101 and PavelMakarchuk authored Nov 14, 2024
1 parent 03efe52 commit a9e9b05
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4 changes: 4 additions & 0 deletions changelog_entry.yaml
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@@ -0,0 +1,4 @@
- bump: minor
changes:
added:
- Georgia 2024 income tax rate update.
70 changes: 33 additions & 37 deletions policyengine_us/parameters/gov/states/ga/tax/income/main/head_of_household.yaml
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Expand Up @@ -4,72 +4,68 @@ metadata:
type: marginal_rate
threshold_unit: currency-USD
rate_unit: /1
label: Georgia income tax rate joint filers
label: Georgia income tax rate head of household filers
reference:
- title: Depertment of Revenue - Tax Tables & Georgia Tax Rate Schedule
href: https://dor.georgia.gov/tax-tables-georgia-tax-rate-schedule
# Georgia transitioned to a flat tax rate, starting in 2024
- title: Official Code of Georgia Annotated | CH17 Income Taxes | O.C.G.A. § 48-7-20 (2)(C)
href: https://law.justia.com/codes/georgia/2022/title-48/chapter-7/article-2/section-48-7-20-d-1/
- title: House Bill 1015 (AS PASSED HOUSE AND SENATE), SECTION 1. (a.1)(1)
href: https://www.legis.ga.gov/legislation/66260

brackets:
- threshold:
2022-01-01: 0
rate:
2022-01-01: 0.01
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 1_000
rate:
2022-01-01: 0.02
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 3_000
rate:
2022-01-01: 0.03
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 5_000
rate:
2022-01-01: 0.04
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 7_000
rate:
2022-01-01: 0.05
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 10_000
rate:
2022-01-01: 0.0575
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
68 changes: 32 additions & 36 deletions policyengine_us/parameters/gov/states/ga/tax/income/main/joint.yaml
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Original file line number Diff line number Diff line change
Expand Up @@ -11,65 +11,61 @@ metadata:
# Georgia transitioned to a flat tax rate, starting in 2024
- title: Official Code of Georgia Annotated | CH17 Income Taxes | O.C.G.A. § 48-7-20 (2)(C)
href: https://law.justia.com/codes/georgia/2022/title-48/chapter-7/article-2/section-48-7-20-d-1/
- title: House Bill 1015 (AS PASSED HOUSE AND SENATE), SECTION 1. (a.1)(1)
href: https://www.legis.ga.gov/legislation/66260

brackets:
- threshold:
2022-01-01: 0
rate:
2022-01-01: 0.01
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 1_000
rate:
2022-01-01: 0.02
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 3_000
rate:
2022-01-01: 0.03
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 5_000
rate:
2022-01-01: 0.04
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 7_000
rate:
2022-01-01: 0.05
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 10_000
rate:
2022-01-01: 0.0575
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
70 changes: 33 additions & 37 deletions policyengine_us/parameters/gov/states/ga/tax/income/main/separate.yaml
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Original file line number Diff line number Diff line change
@@ -1,4 +1,4 @@
description: Georgia taxes the personal income of married couples filing separate at this rate.
description: Georgia taxes the personal income of married couples filing separately at this rate.
metadata:
type: marginal_rate
threshold_unit: currency-USD
Expand All @@ -10,64 +10,60 @@ metadata:
# Georgia transitioned to a flat tax rate, starting in 2024
- title: Official Code of Georgia Annotated | CH17 Income Taxes | O.C.G.A. § 48-7-20 (2)(C)
href: https://law.justia.com/codes/georgia/2022/title-48/chapter-7/article-2/section-48-7-20-d-1/
- title: House Bill 1015 (AS PASSED HOUSE AND SENATE), SECTION 1. (a.1)(1)
href: https://www.legis.ga.gov/legislation/66260
brackets:
- threshold:
2022-01-01: 0
rate:
2022-01-01: 0.01
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 500
rate:
2022-01-01: 0.02
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 1_500
rate:
2022-01-01: 0.03
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 2_500
rate:
2022-01-01: 0.04
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 3_500
rate:
2022-01-01: 0.05
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
- threshold:
2022-01-01: 5_000
rate:
2022-01-01: 0.0575
2024-01-01: 0.0549
2025-01-01: 0.0539
2026-01-01: 0.0529
2027-01-01: 0.0519
2028-01-01: 0.0509
2029-01-01: 0.0499
2024-01-01: 0.0539
2025-01-01: 0.0529
2026-01-01: 0.0519
2027-01-01: 0.0509
2028-01-01: 0.0499
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