Weekly Business Tax Brief: Georgia Gas Tax Paused, New SBA Loan Rules, Inflation Cools (Oct. 2, 2026)
The Weekly Business Tax Brief from Madison's Accounting & Tax Services, Buckhead, Atlanta. What happened this week in tax, business, markets and Washington, and what it means for your business. General education, not tax, legal or investment advice.
The short version
Georgia paused its fuel tax. Gov. Kemp suspended the state motor fuel tax from September 29 through October 29. That is 33.3 cents a gallon on gasoline and 37.3 cents on diesel.
New SBA loan rules are live. An updated SBA rulebook took effect October 1 and changes who can own a business with an SBA loan and how business purchases are financed.
Inflation cooled, but borrowing costs did not. The Fed's preferred inflation gauge came in at 3.4% for August, while the 10-year Treasury yield closed at its highest level since 2002.
October 15 is under two weeks away. That is the final deadline for extended 2025 personal returns and calendar-year C-Corp returns.
A new federal tax credit starts January 1. Treasury and the IRS proposed rules for a credit of up to $1,700 for donations to K-12 scholarship organizations.
Congress is out. The Senate is not scheduled to return for legislative business until November 9.
Tax news: Georgia fuel tax, October 15 and a new credit
Georgia fuel tax. On September 28, Gov. Brian Kemp signed an executive order suspending the state excise tax on motor fuel from 12:01 a.m. on Tuesday, September 29 through Thursday, October 29, 2026. The governor's office listed average prices at $4.19 for regular gasoline and $6.24 for diesel when the order was signed. If you run trucks, vans or a delivery route, that is a real cut in operating cost for the month. Contractors and home care agencies with staff on the road should revisit fuel budgets.
October 15. If you filed an extension for your 2025 return, the deadline is Thursday, October 15, 2026. An extension gave you more time to file, not more time to pay. If you cannot pay the full balance, file on time anyway and set up a payment plan. Our back taxes page explains the options.
Education Freedom Tax Credit. On October 1, Treasury and the IRS released proposed regulations for the new credit under section 25F. Individuals can claim up to $1,700 a year, or $3,400 for a married couple filing jointly, for cash contributions to scholarship granting organizations in states that opt in. The IRS says 30 states have opted in so far, and the credit begins January 1, 2027. These rules are proposed, not final.
The full deadline calendar is in our Ultimate Guide to Business Taxes and Structuring.
Markets: cooler inflation, higher long-term rates
Two things happened at once this week. On Wednesday, September 30, the PCE price index showed inflation at 3.4% for August and core inflation at 3.0%, both below forecasts, according to Yahoo Finance. The report also included a change in how the government measures a few categories, so the numbers are not a clean comparison to earlier months. After the report, futures markets put the odds of a Fed rate increase at the October 28 meeting near 35%, down from about 70% earlier in the week.
Long-term rates still climbed. TheStreet reported the 10-year Treasury yield at about 5.33% on Thursday, October 1, the highest since April 2002. Oil rose too, with Brent crude at $100.60 a barrel and U.S. crude at $92.28. The September ISM manufacturing survey showed its prices index jumping to 77.9 from 71.1, which means more manufacturers are paying more for materials.
What that means for an owner:
Loans. Variable-rate lines of credit follow the Fed. Fixed-rate equipment and real estate loans follow longer-term yields, which are high right now. Get a current quote before you assume last quarter's rate.
Costs. Expect supplier price increases and fuel surcharges to keep coming. Review your own pricing before year-end contracts renew.
Cash. Money you have set aside for taxes can earn interest in a business savings or money market account until it is due.
The September jobs report is due Friday, October 2, and is the next piece of data the Fed will weigh. This is context for planning, not a prediction or investment advice.
Washington: new SBA rules, Congress in recess
The SBA's updated loan rulebook, SOP 50 10 8.1, took effect October 1, 2026 for 7(a) and 504 loans. According to lender guidance from the law firm Starfield & Smith, the main changes are:
All direct and indirect owners of the borrowing business must be U.S. citizens or U.S. nationals whose principal residence is in the United States.
Business purchases above $3 million need an independent quality of earnings report.
The streamlined 7(a) Small Loan process can no longer be used to buy a business.
A seller can stay on as a consultant for up to 24 months after the sale, up from 12.
If you plan to buy or sell a business with SBA financing, including a medical practice, ask your lender how the new rules change your timeline and paperwork.
Congress is in recess. The Senate is holding pro forma sessions with no business and returns on Monday, November 9. Federal funding runs through December 11, 2026. Nothing moves on federal tax legislation until lawmakers return.
What to do this week
If you are on extension, get your documents to your preparer now. October 15 is a hard deadline.
Check your fuel receipts and update your October fuel budget for the Georgia tax pause.
If you are buying or selling a business with an SBA loan, call your lender about the October 1 rule changes.
Ask your bank for a current rate quote before financing equipment or a vehicle.
Review your pricing against rising supplier and material costs.
Need a hand?
Madison's Accounting & Tax Services handles tax preparation, bookkeeping, S-Corp and entity planning and IRS problems for small businesses in Atlanta and across Georgia. See our services or Book a free tax appointment and talk to Johnny directly.
Sources: Office of the Governor of Georgia, fuel tax suspension (Sept. 28, 2026); IRS news release IR-2026-117 (Oct. 1, 2026); Yahoo Finance on PCE inflation (Sept. 30, 2026); TheStreet market report (Oct. 1, 2026); ISM Manufacturing PMI report (Oct. 1, 2026); SBA Information Notice 5000-880695 and Starfield & Smith lender guidance (Sept. 2026); U.S. Senate daily press schedule (Oct. 1, 2026). This post is general education and not tax, legal or investment advice. Talk to a professional about your situation.
