Veteran state income tax cut
Published 3:00 pm Thursday, April 21, 2022
- Military service members joined Gov. Brian Kemp April 18 as he signed veteran bills at National Infantry Museum in Columbus.
ATLANTA— New laws advancing Georgia veteran benefits, including tax exemptions, were signed by Gov. Brian Kemp on Monday.
A key bill approved by the legislature this year essentially eliminates state income taxes for veterans.
HB 1064 exempts up to $17,500 dollars in military retirement income from state income tax for Georgia residents under age 62. Additional income up to $17,500 earned through working in Georgia can also be exempted from the state income tax, beginning with the 2023 filing season.
More than 700,000 veterans live in Georgia, according the National Center for Veterans Analysis and Statistics.
“Until today, we were the only state in the region — and one of only a few in the entire country — that fully taxed our military retirees up to the age of 62, with limited provisions or exemptions,” Kemp said before signing the bill April 18. “By making this adjustment, we’re incentivizing these highly qualified individuals to continue working in their communities when they start second careers, helping Georgia remain the number one state for business.”
Also related to income taxes, Georgians will now have the option to donate all or part of their state income tax return to disabled veterans.
Per SB 87, Georgia tax return filers in 2023 will begin seeing an option on their returns that will allow them to select to contribute any part of their tax return to the Technical System of Georgia for awarding scholarships to veterans with service-related disabilities.
Called the “Senator Jack Hill Veterans’ Act,” the bill is named for the late Republican Sen. Jack Hill of Reidsville, who worked on the bill before his death in 2020.
“This is a great program and a fitting way to honor a great Georgian,” said Kemp, calling Hill — his former senate colleague — a “true champion for our veterans.”
Another new law (SB 96) allows veterans to use their Veterans Health Identification Card from the U.S. Department of Veterans Affairs as a form of identification when they seek the service of a public notary. In addition, a bill (HB 884) that expedites license approvals to within 90 days for military spouses is also now law. Initially, expedited processes for licenses granted for a profession, business or trade were only granted to the veteran.