Freaking out over State Income Tax... (Acworth: insurance, credit, how much) - Georgia (GA) - City-Data Forum

Babeejulss · 10-01-2008, 08:04 AM

Ok so my husband and I are considering moving to GA by the end of the year. So I have been researching the cost of health, auto and homeowner's Ins., Property, state income and income taxes. And I am a little freaked out about the State Income Tax. I found a site that explained the tax to me. Basically, If you make over $7k a year you are taxed 6% on your income. So if I make $45k a year I will pay $2700 a year in state income taxes? That is $225 a month!!! And between my husband and I, we will be paying $450 a month?!! Is this true? And if so can you take deductions?

If this is not true then can you explain to me how it really works?

I look forward to everyone's response.

Thanks,

Julie

neil0311 · 10-01-2008, 09:09 AM

Quote:

Originally Posted by Babeejulss

That is $225 a month!!! And between my husband and I, we will be paying $450 a month?!! Is this true? And if so can you take deductions?

It's not a flat tax, so there are some exemptions and deductions. I guess all things are relative because I would love to only pay $450/mo in state income tax. All in all, GA is roughly in mid-pack as far as state tax rates. I lived in MA and it was a 5.3% flat tax, but what I paid in GA netted to roughly the same % after exemptions and deductions.

Welcome to the world of paying taxes.

blackrabbit · 10-01-2008, 10:23 AM

I thought it was 7%, must look at my paycheck.

In general states such as FL and TX that don't charge you this instead jack up property taxes.

Babeejulss · 10-01-2008, 11:20 AM

I own a home in Port Saint Lucie, FL and the property taxes are $2500 a year for a $190k home. The property taxes are roughly the same in Acworth, Ga...

So your saying that you pay more than 6% on your wages? is it a % of your gross wages or net wages?

Neil0311 - You pay more than $450 a month in state taxes? Single or married? Do you make more than $80k a year?

Julie

neil0311 · 10-01-2008, 03:30 PM

Quote:

Originally Posted by Babeejulss

Single or married? Do you make more than $80k a year?

Married...yes

gapowermike · 10-01-2008, 05:17 PM

Married with kids and a morgage gives you plenty of deductions....

Michael

jeff3166 · 10-01-2008, 10:58 PM

Quote:

Originally Posted by Babeejulss

Ok so my husband and I are considering moving to GA by the end of the year. So I have been researching the cost of health, auto and homeowner's Ins., Property, state income and income taxes. And I am a little freaked out about the State Income Tax. I found a site that explained the tax to me. Basically, If you make over $7k a year you are taxed 6% on your income. So if I make $45k a year I will pay $2700 a year in state income taxes? That is $225 a month!!! And between my husband and I, we will be paying $450 a month?!! Is this true? And if so can you take deductions?

If this is not true then can you explain to me how it really works?

I look forward to everyone's response.

Thanks,

Julie

They're brutal, that's for sure. I moved down here from Illinois back in May, and soon thereafter I posted this thread:

//www.city-data.com/forum/georg...ia-brutal.html

I was floored when I saw my first pay stub after arriving here. In Illinois, I was paying a flat 3%, and even with that, I received a tax return for my '07 taxes. I was going to move to GA, regardless of the state income taxes, just because I wanted to be closer to home in Florida, but still... it irked me. I guess I'll see come next tax season if I get any of that back in the form of a return, but seeing as how I'm single with no kids, I'm certainly not counting on it.

ready2move · 10-02-2008, 06:41 AM

Quote:

Originally Posted by Babeejulss

I own a home in Port Saint Lucie, FL and the property taxes are $2500 a year for a $190k home. The property taxes are roughly the same in Acworth, Ga...

We came from Cooper City almost 2 years ago. Our property taxes were about 3400 and dropped down about a thousand. But we bought a bigger house. Our homeowner's dropped from about 3000 to 750! The difference in my husband's paycheck from not paying state income tax to paying tax was not that much. He makes over 80.

Good Luck!

Babeejulss · 10-02-2008, 08:21 AM

So, if I make $45k a year, am married and no kids how much should I expect to pay in state taxes. Do they tax you on 45k or do they tax you on your net pay. After federal taxes, social security tax, medicare tax and Insurance? I would hope we'd still make out in the end.

Thanks for everyone's help!!

Julie

saharaga · 10-02-2008, 08:52 AM

How much you ultimately pay in taxes typically depends on your filing status, deductions, and credits. The state will assess tax based on your gross income minus any qualifying pre-tax deductions your employer takes out. According to the 2007 tax table, someone making between 45,000 and 46,000 would be taxed $2513 to $2567 for single filing status, $2443 to $2497 for married filing jointly or head of household filing status, and $2573 to $2627 for married filing separately.

You can find more information on the Department of Revenue's site