Friday, October 31st, 2014

Promises about Taxes on Deal-O-Meter

Will cut corporate income taxes by one-third

Said he will cut the state's corporate income tax from 6 to 4 percent. "We need to give businesses in Georgia every possible incentive to create new jobs as well as preserve the jobs we have now. "

Initially exempt some startup businesses from corporate income taxes

Said he will cut the corporate income tax for new small businesses in their first decade

Eliminate the corporate net worth tax on businesses

"Corporate net worth taxes penalize growth and development of wealth in Georgia, and as Governor, Nathan Deal will work to eliminate this duplicative layer of taxation. By doing so, the state will send a strong signal to current and prospective businesses that Georgia is an ideal place to call home and provide an environment in which to grow. Loss of revenue would be minimal to the state and would quickly be replaced by a stronger corporate presence and improved environment within which growth and development will be encouraged."

Exempt initial $7,000 earned from taxes

As Governor, Nathan Deal will use his leadership as a fiscal conservative to reduce the bureaucratic burdens of the tax system by eliminating personal income taxes for all individuals with incomes below $7,000 per year and enacting a simple tax of 6% of income above this level."

Eliminate Georgia's marriage tax penalty

"Nathan Deal has committed to eliminate unfair treatment of married couples under the state income tax system. Strong families benefit our communities, and state policies should always seek to promote marriage rather than see it as a chance to take a few more dollars for the treasury."

Eliminate withholding for some workers

"By eliminating the requirement for certain individuals to have income taxes withheld puts more hard-earned money back into the hands of hardworking families at a time when they need it the most. This also simplifies the administrative process by reducing the number of returns which the state must process as well as the burden on individuals which have to file in order to receive this money back."

Will eliminate the Georgia 400 toll by the end of 2011

"As governor, I'll swing the sledgehammer to bring down the Buckhead Wall. The state has collected more than enough money to pay the bonds for the highway. We are now using the tolls of Georgia 400 drivers to pay for other road projects. That's not fair to the commuters in north Fulton and Forsyth counties. They've carried more than their fair share."

Dedicate all of the motor fuel tax revenues to transportation projects

"Transitioning debt service away from the Georgia Department of Transportation and dedicating all of the motor fuel tax revenues to transportation projects."

Oppose tax increases

Signed the Taxpayer Protection Pledge, in which he agrees to "oppose and vote against any and all efforts to increase taxes."

Eliminate net worth tax

"Corporate net worth taxes penalize growth and development of wealth in Georgia, and as Governor, Nathan Deal will work to eliminate this duplicative layer of taxation. By doing so, the state will send a strong signal to current and prospective businesses that Georgia is an ideal place to call home and provide an environment in which to grow. Loss of revenue would be minimal to the state and would quickly be replaced by a stronger corporate presence and improved environment within which growth and development will be encouraged."

Eliminate business inventory tax

"Nathan Deal will work to eliminate this regressive tax to allow businesses to grow absent this additional burden and layer of taxation by allowing local governments to elect to extend current Freeport exemptions to more goods, regardless of who holds the inventory or the destination to which it is shipped."