Once the measure is signed by Gov. Brian Kemp, the measure will go before Georgia voters for final approval
NFIB State Director Hunter Loggins released the following statement today on House Bill 808, which sailed through the state Senate last night on a vote of 51-0. The measure, which reduces the tangible personal property tax burden on Georgia’s small businesses, will go before Georgia voters in November for final approval after the governor signs it.
“House Bill 808 raises the threshold for paying this onerous tax,” Loggins said. “Small businesses already pay sale taxes on equipment, desks, and other property. The tangible personal property tax means they’re paying taxes on the same items year after year. Raising the threshold for paying this tax would ease the financial pressure on employers struggling with inflation that continues to drive up the cost of owning and operating a small business.
Rep. Mike Cheokas, the bill’s sponsor and an NFIB member, said, “This is a great day for business in Georgia. I want to thank Shaw Blackmon, chairman of the House Ways and Means Committee, for his continued support and guidance in getting this measure passed in the Georgia House of Representatives. I am equally grateful to the hard work of Sen. John Albers for navigating H.B. 808 through the Senate. This was a team effort. I hope this will be the first step in reducing the burden of high taxes and prohibitive regulations that adversely affect businesses in Georgia.
Albers, an NFIB member: “Small businesses are the lifeblood of the Georgia economy. I was so proud to work with NFIB and Representative Cheokas to pass House Bill 808. This legislation lowers the tax burden, allowing our businesses to grow and thrive.”
Other statements
Lt. Gov. Burt Jones, an NFIB member: “I am proud of the Senate and House for their work on House Bill 808. This bill is essential for small businesses because it will reduce paperwork and cut down on property taxes. Our small businesses support Georgia’s economic engine and I will continue to prioritize initiatives that ease burdens on them and promote efficiencies.”
Alison Couch, owner of Ignite Accounting and Business Advisors in Harlem, Ga., and an NFIB Georgia Leadership Council member: “As an accountant, I’ve recognized that the most frustrating tax for small business owners is the TPP tax. This annual tax filing and payment is burdensome and costly. Tuesday’s vote is a big win for small businesses like mine.”
