This year's session of the Georgia General Assembly will begin on Jan. 8
State Director Hunter Loggins says stopping lawsuit abuse and easing the tax burden on Georgia’s small businesses will NFIB’s top priorities during this year’s session of the General Assembly. This year’s legislative session begins on Monday, Jan. 8.
Gov. Brian Kemp announced last summer that stopping lawsuit abuse would be one of this year’s legislative priorities. Governor Kemp hasn’t disclosed details of his plan, but Loggins said small businesses are encouraged by the governor’s commitment.
“Our members are encouraged that Governor Kemp has made this is priority,” Loggins said. “The cost of defending itself against one bogus lawsuit could be enough to put a small business out of business,” he said. “We look forward to working with the governor and legislative leaders on this important issue in this year’s legislative session.”
Concerning a separate tax issue, Kemp has said he supports legislation to accelerate the largest income tax cut in state history. He signed legislation two years ago that would reduce the state income tax every year until 2029. Georgia has $16 billion in its rainy-day fund, so Kemp has said the state can afford to enact larger tax cuts each year.
“Increasing the tax deduction would provide additional relief for Georgia’s families and Main Street businesses as they struggle to adapt to higher prices brought on inflation in over 40 years,” Loggins said.
Loggins said small business owners also would be urging their legislators to support raising the threshold on the state’s personal property taxes, also known as the inventory tax.
This tax is levied on property that can be moved, such as office equipment and supplies and inventory. The taxes are mostly levied by local governments but are regulated at the state level. Last year, state Rep. Mike Cheokas introduced House Bill 808, legislation that would raise the exemption threshold from $7,500 to $50,000. The measure would require a two-thirds vote by the General Assembly and approval by voters.
“Inflation continues to drive up the cost of living, working and running a business in Georgia,” Loggins said. “Raising the personal property tax threshold would ease some of the financial pressure on Main Street businesses when they need it most.”
