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CARES Act
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NotcreativeCPA
Level 1
04-28-2020
12:09 PM
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Wondering if Georgia has adopted the changes in CARES act - such as the NOL carryback to 2 years?
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itonewbie
Level 15
04-28-2020
01:23 PM
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No, at least not yet. GA has a static conformity date, which is Jan 1, 2019 currently. In fact, here's what the GA DOR website says (https://dor.georgia.gov/coronavirus-tax-relief-faqs😞
For purposes of computing Georgia income does Georgia follow any provisions of the CARES Act?
Not currently. The Cares Act as well as the 2019 Federal changes must be considered for adoption by the Georgia General Assembly. The current legislative session was put on hold due to the Corona Virus and no action has yet been completed.
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