Georgia Income Tax Rate 2024

[vrathi101]

Fixes #5186
Fixes #5307

[codecov]

Codecov Report

All modified and coverable lines are covered by tests ✅

Project coverage is 99.00%. Comparing base (cb92a56) to head (bcbf3a0).
Report is 143 commits behind head on master.

Additional details and impacted files

@@            Coverage Diff             @@
##           master    #5308      +/-   ##
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- Coverage   99.12%   99.00%   -0.13%     
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  Files        2592     2621      +29     
  Lines       37707    38149     +442     
  Branches      162      168       +6     
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+ Hits        37378    37770     +392     
- Misses        297      346      +49     
- Partials       32       33       +1     

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[PavelMakarchuk]

@vrathi101 As far as I read from the law Georgia has moved to a flat tax starting in 2024, these slides are also helpful

It should be 5.49% in 2024 and then reduced by 0.1% to 4.99% in 2028 - could you make that adjustment for each bracket and filing status?

[vrathi101]

@PavelMakarchuk if 2024 is 5.49% and we reduce by 0.10% per year, then 2028 is gonna be 5.09%. Am I missing something?

[PavelMakarchuk]

@PavelMakarchuk if 2024 is 5.49% and we reduce by 0.10% per year, then 2028 is gonna be 5.09%. Am I missing something?

Yes is should be 4.99% in 2029

[vrathi101]

based on this i'm setting 2024 to 5.39% and then decreasing by 0.10% per year until it hits 4.99% - https://www.legis.ga.gov/legislation/66260