Georgia State Income Tax Information
The state of Georgia, like other states throughout the country, has its own rules governing income tax. Residents and non-residents alike need to know what their filing obligations are and how to minimize their tax liability. By understanding the tax regulations that apply to your personal situation, you can ensure that you pay only your fair share of taxes.
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Who Must File
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Georgia residents who must file a federal income tax return must also file a state tax return. Even if you do not owe federal tax, you still need to file a state return if you owe Georgia taxes or your income is higher than the Georgia standard deduction plus exemptions for your filing status. Always file if you expect a refund.
Georgia Residents
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If you are a full-year resident of the state of Georgia, your income is subject to state taxes no matter where you earn your income. Attach out of state tax returns to your Georgia state return to qualify for a credit for taxes you paid to another state. Your credit may not exceed your Georgia state tax liability and there is no credit for income earned in countries outside the United States.
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Out of State Residents
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If you receive any income from the state of Georgia, and you are required to file a federal return, you must also file a Georgia state return. However, when you earn less than $5000 from a Georgia employer, you may be exempt from filing a state return.
Credits
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There is no earned income credit in the state of Georgia. However, if your adjusted gross income on your federal and Georgia state tax returns is less than $20,000, and you cannot be claimed as someone's dependent, you may qualify for a low-income tax credit. You can also qualify for a tax credit of up to $2,500 of the purchase price of a low-emission vehicle and up to $5,000 credit on a no-emission vehicle.
Estimated Tax
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When you have income that is not taxed through payroll withholding, and your untaxed income is greater than your personal exemption plus deductions, credits and $1000 of income, you must make estimated tax payments to the state. Alternately, you may ask your employer to withhold extra taxes from you paycheck to keep your taxes current.
Filing Deadlines
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File your Georgia state tax return by April 15 whenever possible to avoid late fees and penalties. If you need an extension, file federal Form 4868 or Georgia State Form IT-303 by the tax deadline and include payment for any tax liability you expect to owe. You may request to pay in installments by filing Form GA-9465, but you will incur penalties for any overdue taxes.
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