Current through 2023-2024 Legislative Session Chapters 1-374, 376-386, 393, 394, 397, 398, 406-412, 414, 415, 421, 424, 427, 429, 430, 432-456, 460, 461, 471, 473, 475, 478, 480, 483, 484, 488, 490
Section 48-7-26 - [Effective Until 7/1/2024] Personal exemptions(a) As used in this Code section, the term "dependent" shall have the same meaning as in the Internal Revenue Code of 1986; provided, however, that any unborn child with a detectable human heartbeat, as such terms are defined in Code Section 1-2-1, shall qualify as a dependent minor.(b) Each taxpayer shall be allowed as a deduction in computing his or her Georgia taxable income a personal exemption in the amount of $3,000.00 for each dependent of such taxpayer .
(c) No exemption shall be allowed under this Code section for any dependent who has made a joint return with such dependent's spouse for the taxable year beginning in the calendar year in which the taxable year of the taxpayer begins.(d) A deduction in lieu of a personal exemption deduction shall be allowed an estate or a trust as follows: (1) An estate -- $2,700.00; and(2) A trust -- $1,350.00.Amended by 2023 Ga. Laws 236,§ 2-3, eff. 1/1/2024, app. to all taxable years beginning on or after 1/1/2024.Amended by 2022 Ga. Laws 716,§ 2-2, eff. 1/1/2024.Amended by 2019 Ga. Laws 234,§ 12, eff. 1/1/2020.Amended by 2012 Ga. Laws 607,§; II-2-1, eff. 1/1/2013.This section is set out more than once due to postponed, multiple, or conflicting amendments.