How Do You Calculate Georgia State Income Tax?
Georgia has a six-bracket state income tax system, charging sliding rates that depend on your income. The variations in tax rates are all contained at relatively low income levels, meaning most individuals will fall into the highest bracket. Add up any income you made through investments you’ve sold for a profit, money you’ve inherited, grants you’ve received and any other money that qualifies as personal income. Check the W-2 statement your employer sends to you as tax time nears. It will tell you exactly how much money you made at your job last year and will also total up any taxes that were automatically taken off your checks. Calculate your taxable income by finding the total value of the tax deductions for which you qualify. Subtract that figure from your total income. Discover the six tax brackets used in Georgia. Remember that incomes of approximately $750 or less qualify for the lowest bracket–1 percent. Pay 2 percent in state income tax if you made between $750 and $2,300. Ap
