TAX REFORM FOR GEORGIA:THE GAME

Christine P. Ries
Professor of Economics
Georgia Institute of Technology
Atlanta, GA 30332
Generous Support and Assistance:
Georgia Public Policy Foundation
Center for Data Analysis
The Heritage Foundation
Broaden Tax Base
Change Items Taxed and Excise Tax Amounts
Change Exemptions and Deductions
  • Single: raise from $2300 to $6000
  • Married filing jointly: raise from $3000 to $12000
  • Married filing separately: raise from $2300 to $6000
  • Head of Household: raise from $2300 to $6000
  • Personal exemption $11,170
  • Dependent exemption $3960
  • Eliminate Itemized Deductions
  • $30,000 for single
  • $60,000 for married filing jointly
  • $30,000 for married filing separately
  • $30,000 for head of household

Sales and Use Tax Rate:  %

0%
12%
Sales Tax Base: $132,447.5 Million

Personal Income Tax Rate:  %

0%
12%
PIT Base: $119,732.3 Million

Corporate Tax Rate:  %

0%
12%
Corp Tax Base: $11,230.0 Million
Revenue Impact of Simulated Tax Reform: $0
State Government Revenue from Taxes
FY2012
Est. *
($ millions)
Your Simulated
Tax Reform
($ millions)
Revenue Impact
of Your Tax
Reform
($ millions)
 
Income Tax: Personal and Pass-Thru Business
8,118.9 8,118.9 0.0
 
Income Tax: Corporate
673.8 673.8 0.0
 
Sales and Use Tax
5,297.9 5,297.9 0.0
 
Select Excise Taxes
233.4 233.4 0.0
 
Tobacco Taxes
233.4 233.4 0.0
 
Telecommunications
0.0 0.0 0.0
 
Other Taxes
1,711.9 1,711.9 0.0
 
Total Tax Revenue
16,035.9 16,035.9 0.0
Current Code:
Sales Tax  33 % Other  11 % Select Excise Taxes  1 % Corporate Income Tax  4 % Personal Income Tax  51 % Sales Tax  33 % Other  11 % Personal Income Tax  51 %
Simulated Results:
Sales Tax  33 % Other  11 % Select Excise Taxes  1 % Corporate Income Tax  4 % Personal Income Tax  51 % Sales Tax  33 % Other  11 % Personal Income Tax  51 %
 
Income Tax: Personal and Pass-Thru Business
 
Income Tax: Corporate
 
Sales and Use Tax
 
Select Excise Taxes
 
Other taxes
Hover mouse over Pie Charts to see percentages of total revenue.
* Current Tax Laws and Regulations