State Tax Laws - Georgia

Personal income taxes range from 1% to 6%, the highest rate coming in at a whopping $7,000. Hey there big spender… Personal exemptions are $2,700 for single, $5,400 for married couples, and they give an extra $3,000 per dependent. The standard deduction is $2,300 for single or $3,000 for married couples, seems like a state where it pays to stay single. There is no estate tax in Georgia.

Corporations are taxed at a flat 6% in addition to an annual $50 business form filing fee. Sales tax is 4%, some localities add up to 3% more. Georgia has strong limited partnership laws where limited partners can still have some control over the business without losing their liability protection. This would be a desirable state to set up a limited partnership with a corporation as the general partner for that reason. Business information can be found at the secretary of state's site: http://sos.ga.gov/index.php/. Tax information is at: https://etax.dor.ga.gov/


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