TAX NEWS - February 2009

State of Georgia tax: Individual Estimated Tax

Purpose of Estimated Tax

The purpose of estimated tax is to enable taxpayers having income not subject to withholding to currently pay their income tax.


Who Must File Estimated Tax

Individuals or fiduciaries subject to Georgia income tax who expect to have income that exceeds: (1) personal exemption, (2) credit for dependents, (3) estimated deductions, plus (4) $1,000 income not subject to withholding.

Exception: Estimated tax is not required if an employer agrees to withhold additional tax to cover income that normally requires estimated tax to be filed.


Electronic Payment of tax

You can pay individual estimated tax with a credit card. Click here for more information about paying individual estimated tax with a credit card.

You may also pay individual estimated tax via our e-file and e-pay system. Click here for more information about paying estimated tax via e-file and e-pay system.


Tax Payment Due Dates

Estimated tax may be paid in full with the first installment or in equal installments on or before April 15, June 15, September 15, and the following January 15. Mail your payment with Form 500ES to the address listed on the form.