Georgia Tax
For Georgia residents, you specify the employee's status and exemptions.
Deltek Modification Date - 12/13/21
Enter the following field information for residents of Georgia on the Withholding grid on the Payroll tab of the Employees hub:
Field | Description |
---|---|
Status | Enter the marital status claimed by the employee on Georgia Employee’s Withholding Exemption Certificate, Form G-4:
|
Exemptions | Enter the number of personal allowances claimed by the employee on the State of Georgia Employee's Withholding Allowance Certificate (Form G-4). This figure is based on the filing status of the employee and should not exceed 1. |
Other Exemptions | Sum the Dependent Allowances and the Additional Allowances from the Form G-4, and enter the sum in this field. |
Supplemental Wages
The tax rate for supplemental wages for bonus runs is as follows:
If the annual income is: | Withhold at a rate of: |
---|---|
under $8,000 | 2% |
$8,000 - $10,000 | 3% |
$10,001 - $12,000 | 4% |
$12,001 - $15,000 | 5% |
over $15,000 | 5.75% |
Automatically Calculated Variables
Vantagepoint automatically computes the following variables based on the exemptions and filing status claimed by the employee.
Standard Deduction
The standard deduction is a table-based deduction applied to all employees. Vantagepoint calculates the amount of the deduction using the employee's filing status, as follows:
Status | Deduction |
---|---|
S | $5,400 |
H | $5,400 |
1 | $7,100 |
2 | $7,100 |
3 | $3,550 |
4 | $8,400 {status 1 + $1,300} |
5 | $9,700 {status 1 + ($1,300 x 2)} |
6 | $11,000 {status 1 + ($1,300 x 3)} |
7 | $12,300 {status 1 + ($1,300 x 4)} |
A | $8,400 {status 2 + $1,300} |
B | $9,700 {status 2 + ($1,300 x 2)} |
C | $11,000 {status 2 + ($1,300 x 3)} |
D | $12,300 {status 2 + ($1,300 x 4)} |
Personal and Dependent Allowances
The amount of the Dependent Allowance is determined by multiplying the number of exemptions in the Other Exemptions field by $3,000. The amount of the Personal Allowance is determined by using the table below.
Status | Deduction |
---|---|
3 | $3,700 |
S or H | $2,700 |
All Others | $7,400 |
How Vantagepoint Calculates Tax
To calculate an employee's Georgia State tax, Vantagepoint does the following:
- Multiplies the employee's gross pay per pay period by the number of pay periods in a year to determine annualized gross wages.
- Subtracts the employee's Standard Deduction, Personal and Dependent Allowances, 401(k), and 125/Cafeteria plan contributions from the employee's annualized gross wages for the pay period to determine taxable income.
- Calculates the net income tax, by applying Tax Calculation Method 1 to the taxable income.
- Divides the net income tax by the number of pay periods in a year to determine the amount to be withheld this pay period.