Georgia Governor Proposes Increased Exemptions
- Jan 20, 2012 | Susan McLain
In his state-of-the-state address, Georgia Governor Nathan Deal declared that he proposes to eliminate a “…sales tax on energy used in manufacturing,” and develop new “…sales and use tax exemptions for construction materials used in projects of regional significance.”
This type of exemption may cause increased challenge for businesses to ensure they have documented the exemptions along with the specific purpose that qualifies them for that exemption. It will be critical for the state of Georgia to define “project of regional significance” in order for businesses to be able to comply with proper documentation and allowing exemptions under the right circumstances.
The Governor stated “No new taxes” in his press release as well as emphasized that “this is a small government focused on doing a few things well.”
To read the Governor’s complete address and learn what choices Georgia wants to make in the coming fiscal year, click here…