Last week, the Tax Foundation released a paper titled, “Reexamining the Tax Exemption of Municipal Bond Interest,” which argued that lawmakers should consider reforming the current tax treatment of municipal bond...
The facts on Georgia’s Tax Climate
6%individual income taxTop rate
6%corporate income taxFlat rate
$1,011property taxcollections per capita
Georgia's Individual Income Tax System
Georgia's individual income tax system consists of six brackets with a top rate of 6%. The top rate ranks 19th highest among states levying an individual income tax. Georgia's state and local tax collections per person were $878 in 2013, which ranked 32nd highest nationally.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita
Georgia's Corporate Income Tax System
Georgia's corporate income tax system consists of a flat rate of 6%. That rate ranks 32nd highest among states levying a corporate income tax. Georgia's state and local corporate income tax collections per person were $80 in 2013 which ranked 41st highest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita
Georgia Sales and Excise Taxes
Georgia levies a 4% general sales or use tax on consumers, which is below the national median of 5.95%. The average local sales tax rate is an additional 3%. Georgia's state and local governments collect $916 per person in general sales taxes and $322 per person in excise taxes, for a combined figure of $1239, which ranks 41st highest nationally. Georgia's gasoline tax stands at 31.02 cents per gallon, 17th highest nationally, while its cigarette tax stands at $0.37, 48th highest nationally.
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita
Georgia Property Tax Collections Average
Georgia's state and local governments collected approximately $1,011 per person in property taxes in 2013, which ranks 32nd nationally.
State and local property tax collections per capita by state
Tax Freedom Day Arrives on April 17th in Georgia
Tax Freedom Day is the day when Americans have finally earned enough money to pay off their total tax bill for the year. In 2016, Georgia taxpayers have to work until April 17th (20th earliest nationally) to pay their total tax bill.
Georgia's State and Local Tax Burden Ranks 32nd
Georgia's 2012 tax burden of 9.1% ranks 32nd highest in the nation, and is below the national average of 9.9%. Georgia's taxpayers pay $3,426 per capita in state and local taxes.
Georgia's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009
Georgia's 2016 Business Tax Climate Index Ranks 39th
Georgia ranks 39th on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (9th), individual income taxes (42nd), sales taxes (35th), unemployment insurance taxes (37th), and taxes on property (31st), including residential and commercial property.
State Business Tax Climate Index (full study)
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