TAX NEWS - DECEMber 2009

Estimated Tax FAQ for Individuals - State of Georgia tax

Q. What are the requirements for filing and paying estimated tax?

A. Estimated tax is for taxpayers having income not subject to withholding tax. It should be paid by taxpayers subject to Georgia income tax who expect to have during the year gross income which exceeds the personal exemption, plus credit for dependents, plus estimated deductions, plus $1,000 income not subject to withholding. Estimated tax is not required if, under an agreement between the employer and employee, additional tax is withheld to cover income that normally would require estimated tax to be paid.


Q. What are the due dates for filing estimated tax?

A. The due dates are: April 15, June 15, September 15, and January 15.


Q. How do I file estimated tax payments?

A. Complete Form 500ES for estimated tax payments. The Form 500ES and estimated tax instructions are included in the Georgia Instruction Booklet (IT-511). If you need assistance call 1-877-GADOR11 (1-877-423-6711) or 1-888-247-8175. After your first tax payment, the Department of Revenue will send you a coupon book for future payments. Make your check or money order payable to "Georgia Taxpayer Services Division".