Taxed Right
All Categories

Georgia State Taxes


State Income Taxes in Georgia

The state of Georgia does have an individual income tax. Like most states with income tax, it is calculated on a marginal scale with multiple brackets (6). The tax rates range from between 1.00% to 5.75% for 2019. The highest bracket starts at $7,000.

State Business Taxes in Georgia

The state of Georgia has a flat Corporate income tax rate of 5.75% on all income on C Corporations. For other businesses that flow-thru entities, such as S Corporations, Partnerships, LLCs, etc., they are taxed at the individual income tax rates.

Capital Stock Taxes in Georgia

In addition to the Corporate income tax, Georgia has a Capital Stock Tax assessed on capital of Corporations (including LLCs that have elected to be taxed as Corporations). The tax is based on a tax table provided by the Dept of Taxation, and the maximum amount of Capital Stock Tax is $5,000.

Sales and Property Taxes in Georgia

Sales Tax – like most states, Georgia has both a local and state sales tax rates. Their state sales tax rate is 4.00% and their local sales tax rate is 3.31% (which bring the total average sales tax rate to 7.31%). 

Property Taxes in Georgia – the average property tax rate for residential property in the state of Georgia is 0.92%. Which puts it slightly below the national average of 1.05%.

Payroll Taxes in Georgia

Unemployment taxes usually consist of three factors. They are the wage base, range of rates, number of schedules. Below is an outline of the three:

  • Wage Base – Georgia has a wage base of $9,500 for 2020
  • UI Rates – range from 0.04% to 8.10%
  • Schedules – Georgia has multiple rate schedules regarding UI

Georgia Business Entities – LLCs

Georgia is one of the least expensive states in the country to open an LLC. Here are some important facts:

  • Georgia’s annual LLC fee is $50.
  • When you register with the state, you pay a one time fee of $100
  • Secretary of State of Georgia website – click here

Monthly Newsletter

Answers to all of your tax questions