A Green Spring in Georgia:  State sending taxpayers rebates of $250 to $500

By T.S. Carter

 

GEORGIA – Get accustomed to the words“Surplus Tax Refund.”

 

It will be worth it to you, like $250 to $500 worth it.

 

The Surplus Tax Refund signed by Gov. Brian Kemp April 15 authorizes the state to send out $1 billion in one-time special tax refunds of up to $500 per Georgia tax-payer household.

 

Besides the rebate bill, legislators cut the tax rate on individuals and businesses by .20 percent, bringing the rate down to 5.19 percent.

 

This cut will save Georgians another $880 million on their tax returns next year, Kemp’s office said in a press release.

 

“Putting money back in taxpayer pockets and delivering on our promise to further cut the state income tax is a priority I am glad we all can agree on,” said Lt. Gov. Burt Jones.

 

Kemp took a victory lap after signing the bills giving rebates and cuts in the tax-rate.

 

“While other states are running up budget deficits and raising taxes on their citizens, we’re investing in the priorities of our state while further cutting taxes and returning more than a billion dollars to hardworking Georgians,” Kemp boasted.

 

Here’s more about the Surplus Tax Refund, officially designated as HB 112.

 

You may be eligible for the HB 112 Surplus Tax Refund if you:

• File your Individual Income Tax Return for tax year 2023 and tax year 2024 by the May 1, 2025 deadline (or by October 15, 2025 if an extension was granted)
• Had a tax liability for tax year 2023
• Are a Georgia resident, part-year resident, or nonresident