Georgia employs a flat income tax system with a single rate of 5.39% for the 2024 tax year, which can significantly impact your net income. This recent change simplifies calculations for taxpayers while still affecting your paycheck
Georgia Income Tax Highlights
- 5.39% flat rate on all taxable income for individuals and joint filers
This rate applies to residents on all sources of income and to non-residents on Georgia-sourced income. The state allows for various deductions and credits that can affect your taxable income.
Georgia Calculators & Tools
Calculate Your Take-Home Pay
Input your income details and see how much you make after taxes and deductions.
Bonus Calculators
Find out how much your bonus will be taxed.
Net-to-Gross
Find out how much your gross pay should be for a specific take-home pay.
Withholding Forms
Specialty Calculators
Dual Scenario Hourly
Compare your take home pay in different hourly scenarios.
Dual Scenario Salary
Compare your take home pay in different salary scenarios.
401k Calculator
See how increasing your 401k contributions will affect your paycheck and your retirement savings.
Tax Tip Calculator
Determine your take home from tips after taxes
Key Points to remember about the Georgia Paycheck Structure
- Flat tax rate simplifies calculations
- Standard deduction of $5,400 for single filers and $7,100 for married filing jointly (2023 figures)
- Dependent exemption increased to $4,000 per dependent
- No local income taxes
- Scheduled rate reductions aim to reach 4.99% by 2028, subject to certain fiscal conditions
Georgia's tax landscape is evolving, with recent changes designed to provide tax relief to residents. The state has transitioned from a tiered system to a flat rate, with plans for further reductions in coming years. This approach aims to keep more money in Georgians' pockets while maintaining fiscal responsibility. Understanding these aspects of Georgia's tax structure is crucial for accurately estimating your net income and managing your finances effectively in the Peach State. While the flat tax rate simplifies basic calculations, various deductions and credits can still impact your final take-home pay.
Learn more about the Payroll Process in Georgia
Visit the Georgia Payroll Guide page
Fun Facts
Famous for its peaches, Georgia has a rich history as a hub of the Civil Rights Movement. Atlanta is a major cultural and economic center, and the state is known for its diverse landscapes from mountains to beaches. Georgia also hosts the iconic Masters golf tournament.