Georgia Non Conformity with Federal Tax Increase Prevention Act of 2014
Georgia currently maintains conformity to IRC through January 3, 2014. Since the Federal Tax Increase Prevention Act of 2014 was signed into law on December 19, 2014, Georgia does not currently conform to the provisions in this act. Those provisions include:
- Educator expense deduction
- Tuition and fees deduction
- deduction for state and local general sales tax
- qualified charitable contributions
- qualified mortgage insurance premiums deduction
- bonus depreciation
- expanded section 179 depreciation
Per the Georgia instructions:
The Governor signed House Bill 918 into law. Consequently, for taxable years beginning on or after January 1, 2014, with exceptions as discussed below, Georgia has adopted the provisions of all federal acts (as they relate to computation of federal adjusted gross income (AGI) for individuals or federal taxable income for non individuals) that were enacted on or before January 3, 2014.