10 May 2024 Georgia governor signs bill limiting the carryforward period for certain tax credits; vetoes bill that would have suspended sales tax exemptions for data centers Governor Brian Kemp signed HB 1181 into law on May 6, 2024, which reduces the carryforward period for various tax credits and provides sunset dates for select tax credits and sales/use tax exemptions. The following day, he vetoed HB 1192, which would have suspended the issuance of new sales and use tax exemption certificates for high-technology data centers. Previously, the governor signed bills to reduce the corporate and individual income tax rates, update the state's date of conformity to the IRC, and give corporate taxpayers additional time after the federal extension deadline to file their state return. For more on these developments, see Tax Alert 2024-0908.
Document ID: 2024-0956 | ||||
