Law Commons^™

Revenue And Taxation Income Taxes: Increase Amount Of Personal And Dependent Exemptions With Respect To Georgia Taxable Net Income; Provide For Periodic Additional Increases With Respect To Dependent Exemption Amounts; Increase Amount Of Deduction In Lieu Of Personal Exemptions With Respect To Estates Or Trusts; Increase Amount Of Deductions That Elderly Or Blind Taxpayers May Take; Change Amount Of Certain Taxable Withholding Exemption Allowances, David L. Hoffman

Georgia State University Law Review

The Act provides for changes in the income taxation of individuals by increasing both exemptions and deductions and makes prior law gender neutral. Beginning in the 1998 tax year, individuals filing a joint tax return may claim a $5400 exemption, while an individual filing separately may claim a $2700 exemption. Further, an individual may claim a $2700 exemption for each dependent until the 2003 tax year when the dependent exemption increases to $3000. In lieu of the personal exemption, an individual may claim an exemption of $2700 for an estate and $1350 for a trust. Further, the Act increases to …