O.C.G.A.

O.C.G.A. § 48-5-41.2 (2019)

Exemption of personal property in inventory for business

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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All tangible personal property constituting the inventory of a business shall be exempt from state ad valorem taxation.

History

Code 1981, § 48-5-41.2, enacted by Ga. L. 2009, p. 674, § 1/HB 482; Ga. L. 2010, p. 878, § 48/HB 1387.

Annotations

Editor’s notes. The state-wide referendum (Ga. L. 2009, p. 674, § 1/HB 482), which enacted this Code section, was approved by a majority of qualified voters at the November 2, 2010 general election, and took effect January 1, 2011.

The state-wide referendum (Ga. L. 2010, p. 878, § 48(7)/HB 1387), provides that the 2010 amendment becomes effective on January 1, 2011, but only if an Act found at Ga. L. 2009, p. 674, is approved in a state-wide referendum conducted on the date of the November, 2010 state-wide general election. Ga. L. 2009, p. 674, was approved by a majority of the voters voting at the November 2, 2010 general election.