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Taxes

state income tax

Most states levy an income tax on their residents that is in addition to the federal income tax. Laws vary from state to state but in most states the state income tax is a tax on the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities.

There are nine states that do not have a state income tax—including Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. But New Hampshire levies a tax on capital gains and Washington state recently enacted a tax on extraordinary profits from the sale of financial assets over $250,000.

In Georgia, like most states, residents are subject to a state income tax in addition to the federal income tax. The state income tax in Georgia applies to the annual earnings of individuals, corporations, trusts, limited liability companies, and other legal entities. The tax rates are progressive for individuals, meaning that the rate increases as income rises. For corporations, Georgia imposes a flat tax rate on taxable income. It's important for residents and entities in Georgia to comply with these tax laws to avoid penalties and ensure proper contribution to state funding for public services. Unlike the states mentioned that do not have a state income tax or only tax certain types of income, Georgia has a more comprehensive income tax structure.

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Taxes

state income tax

Individual & Family Legal Plan

Articles

Georgia State Code

Articles

Taxes

state income tax

Georgia State Code