Econ4300Taxes - 2010-2011 Georgia Tax ReformPatrick LeeECON 4300 Trandel `Many Georgia politicians were elected this term based on promises to

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Unformatted text preview: 2010-2011 Georgia Tax ReformPatrick LeeECON 4300- Trandel `Many Georgia politicians were elected this term based on promises to overhaul the state tax code, simultaneously making the state more attractive to business investment and lowering state taxes for constituents. Many changes were recommended, citing economic reasons, but, like in most areas of government, political motives were apparent. An agreement on the proper reforms has not been met in Georgia, likely because of the complexities and fairness of some of the proposed changes. The 2010 Special Council on Tax Reform and Fairness for Georgians embarked to change the tax code, simplifying it, and lessening the burden for the citizens of the state. Most notably, there is a proposed cut of the income tax rate from the current 6% to 4% by 2014. To offset this decrease in revenues, Goergia would raise sales taxes, increase the excise tax placed on boxes of cigarettes, and impose sales taxes on communication services and a sales tax on the sales of used cars from one individual party to another, which has never been taxed before. Along with those changes faced by individual taxpayers, the business taxation environment is proposed to change as well. taxpayers, the business taxation environment is proposed to change as well....
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This note was uploaded on 02/07/2012 for the course ECON 4300 taught by Professor Staff during the Fall '08 term at University of Georgia Athens.

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Econ4300Taxes - 2010-2011 Georgia Tax ReformPatrick LeeECON 4300 Trandel `Many Georgia politicians were elected this term based on promises to

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