For those who are not familiar with the Georgia State taxes, this is helpful reading material to help you get started with. The most basic Georgia State taxes are enumerated and described below. When visiting the state, one of the Georgia State taxes that you will have to deal with is the sales tax. Note that the prevailing sales tax for Georgia is at four percent.
At the same time, take note that the prescription drugs and other medical devices and groceries are free of sales and use tax. On the other hand, Georgia State taxes may impose additional sales tax for local option tax, special purpose local option tax, homestead local option tax, educational local option tax, or the MARTA tax also known as the Metropolitan Atlanta Rapid Transit Authority. At the same time, for Atlanta visitors and residents, there is an additional 1 percent municipal option sales tax.
For the personal income tax that directly affects the Georgia residents, be aware of the six tax brackets imposed by the Georgia State taxes. The rates are fairly rated from 1 percent to 6 percent. At the same time, there are Peach State taxpayers that may exclude portions of their retirement income from being levied. Here is the breakdown of such Georgia State taxes.
Single or married taxpayers who are filing separately are taxed as follows:
• 1% on the first $750 of taxable income
• 2% on taxable income between $751 and $2,250
• 3% on taxable income between $2,251 and $3,750
• 4% on taxable income between $3,751 and $5,250
• 5% on taxable income between $5,251 and $7,000
• 6% on taxable income exceeding $7,000.
On the other hand, the married couples filing jointly as well as heads of the households have the same rates but the income brackets are from $1,000 at 1 percent and $10,000 at 6 percent. Note that the Georgia State taxes for income tax returns are due on the 15th of April of the tax year but can be extended or adjusted if the due date falls on a weekend or holiday, or if federal lead adjusts the due date to provide extensions for taxpayers.
Taxpayers who are aged 62 and up, as well as the permanently or totally disabled taxpayers, can deduct up to $25,000 of their retirement income as of the year 2005. In 2007, it was increased to $30,000. While in 2008, the deduction is increased to $35,000. A low income tax credit may be filed for those earning less than $20,000. Note that there are no inheritance and estate taxes in the Georgia State taxes. For other Georgia State taxes information, visit their official website today.