What is the maximum amount of Georgia income taxes that an individual can re-direct each year to GOAL?
Each calendar year, as long as there is room available under the $50 million annual cap on tax credits established by HB 1133, a married couple filing a joint return can re-direct up to $2,500 of their income tax payments to GOAL. The maximum for an individual is $1,000. 6. If an individual has paid all of his or her estimated Georgia income taxes for a particular tax year and makes a contribution to GOAL in that year, will he or she still receive a Georgia income tax credit for the amount contributed to GOAL? Yes. If, after applying the tax credit against the Georgia income tax due and applying all estimated tax payments and withheld income taxes, there is an overpayment, the taxpayer can elect to have all or a portion of the overpayment paid to him or her.
Related Questions
- What is the maximum amount of Georgia income taxes that an individual can redirect each year to SSO of America?
- What is the maximum amount of Georgia income taxes that an individual can re-direct each year to GOAL?
- What is the maximum amount of Georgia income taxes that an individual can redirect each year to GCSSF?
