The General Assembly heads into its 40th and final day of the 2017 session with taxes on its mind. Here are eight potential tax breaks that will be decided Thurday:
- State income tax cut. Both chambers have voted to lower the top state income tax rate, albeit to different levels. The big money would go to upper-income earners, but hey, a tax cut is a tax cut.
- A car leasing tax cut. Both chambers have approved versions of legislation to cut taxes on Georgians who lease vehicles (and increase them on some used-car buyers). The state estimates it could save people who lease cars $74 million in taxes by 2019
- Music industry tax credits. Tax breaks aimed at increasing the number of records, tours and jobs that come from the music industry in Georgia.
- Yacht tax exemption. A sales tax break to folks with really, really big boats if they get them refitted, repaired or maintained in Georgia. An attempt to spur a big-boat repair business on the coast.
- Welcome to Georgia tax break. Sets limits on how much the state will charge out-of-staters when they move to Georgia and title their cars here.
- Rural Georgia investment tax credit. Would provide $60 million in tax credits for investing in rural Georgia. Supporters say rural Georgia companies need access to capital, critics say it's a give-away to a few giant national capital companies.
- Private school scholarship tax credit. The latest version of the bill would raise the amount of tax credits available for people who donate to private school scholarship organizations from $58 million to $65 million.
- Taxi and limo rides tax break. A bill that started out in the House as a bid to charge a sales tax on Uber and Lyft rides was changed by the Senate to eliminate sales taxes on taxi and limo rides. Uber and Lyft rides would remain untaxed.
