How to Calculate Georgia Income Tax
Georgia State Income Tax must be paid annually by most residents of Georgia. Calendar year taxpayers must file returns on or before the 18th of April; fiscal year taxpayers must file returns on or before the 15th day of the fourth month after the close of their taxable year. Returns can be filed electronically or by mail with the Georgia Department of Revenue using either Form 500 or Form 500EZ. Form 500EZ provides a basic formula that demonstrates the calculation of Georgia State Income Tax.
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Things You'll Need
- Completed federal income tax form
- Georgia Department of Revenue: Individual Income Tax Instruction Booklet
- Form W-2
- Form 1099
Instructions
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Subtract $5,000 from the Adjusted Gross Income (AGI) off of your federal income tax form, IRS Form 1040, 1040EZ or 1040A, if you are single. If married filling jointly, instead subtract $8,400 from your federal AGI. If your federal AGI exceeds $99,999, use $99,999 instead.
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2
Consult the Tax Table in the Georgia Department of Revenue's Individual Income Tax Instruction Booklet to find the amount of tax, based on the previous calculation. The Tax Tables are located on pages 19-21 of the tax booklet.
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3
Sum the amounts of Georgia income tax withheld from all W-2 and 1099 forms. This is your total Georgia income tax withheld.
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Subtract the total Georgia income tax withheld from the amount of tax. This is the amount of Georgia State Income Tax you owe. If the amount of tax withheld exceeds the amount of tax, the difference is the amount of your overpayment and will be refunded.
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Tips & Warnings
Be sure to include relevant W-2 and 1099 forms when you file your Georgia State Income Tax Return.
Read the Tax Booklet to determine whether you must file and which tax form you are eligible to use.
References
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