Georgia has made the following changes to the tax laws for the 2023 tax year:
Changes to Credits and Deductions
Disabled Veterans' Scholarship Fund - Beginning with tax year 2023, taxpayers can choose to donate a portion of their refund to this new GA fund.
Qualified Education Expense and Qualified Rural Hospital Expense Tax - These credits have been revised for tax year 2023. For more information regarding these credits, please see Georgia's Tax Credit Summary.
Changes to Form 500
Depreciation Adjustment - Schedule 1, Lines 3 and 11 has been updated show differences in depreciation adjustments between Georgia and Federal Law.
Revised Dependent Section - Updated to include unborn dependent exemption on Line 7b.
Net Operating Loss (NOL) - Beginning with tax year 2023, the Net Operating loss is included in
the Form 500/500X as Schedule 4.