Bill could provide more than $250M in tax relief for Georgians, exempts PPP loans from state tax (henryherald.com)
(The Center Square) – The Georgia House has advanced a bill that could save taxpayers more than $250 million if it becomes law and would make certain federal Paycheck Protection Program (PPP) loans tax exempt.
The measure, House Bill 265, makes an annual update to the state’s revenue code to extend tax deductions for medical expenses, charitable contributions and business meals.
The House passed the measure unanimously Tuesday, and it now heads to the Senate for consideration.
By: Nyamekye Daniel