Georgia Governor Announces Proposed Tax Rebates for 2025

Georgia Governor Brian Kemp announced at a press conference on Oct. 22, 2024, that Georgia residents can expect another year of tax rebates to be issued in 2025. Kemp stated the push for the rebate is the first of other efforts in the works meant to help Georgia residents recover from destruction caused by recent hurricanes, which has cost the state millions of dollars in damages.

What Are the Georgia Tax Rebates in 2025?

Governor Kemp has proposed a one-time rebate for families and individuals in 2025, which could save Georgia residents more than $1 billion. In the proposed rebate for 2025, Georgia taxpayers can expect the following to be issued in 2025:

• $250 return for single taxpayers
• $375 return for single heads of households
• $500 return for married couples filing jointly

Legislators will still need to approve the plan in 2025, although Governor Kemp has stated this is likely due to an expected Republican majority in the General Assembly.

Earlier this year, Governor Kemp signed additional bills – House Bill 1015 (HB 1015) and House Bill (HB 1023) – to reduce taxes for residents and corporations in the state of Georgia. HB 1015 lowered Georgia’s income tax from 5.49 percent to 5.39 percent in 2024, while HB 1023 matches the corporate income tax rate to the individual income tax rate.

For questions or more information about Georgia tax rebates, or to discuss your current tax situation, contact your Windham Brannon advisor today, or reach out to Tim Clancy.