Elementor #8501

We covered how to keep the feds happy in this post. Now, let’s turn our attention to our responsibilities as employers in the great state of Georgia.

Like the IRS, Georgia is asking you take care of two main things when you pay your people – income tax withholdings and unemployment taxes. You are withholding taxes on behalf of your employees. You (the employer) are responsible for unemployment taxes.

Luckily, Georgia follows most of the same rules that the IRS follows. We’ll note where there are differences. Let’s look at Georgia income taxes first.

Georgia Income Taxes

All Georgia income taxes withholdings are reported quarterly using Form G-7. 

Filing Status – The first thing an employer has to determine is their filing status. Your filing status determines when you will pay income taxes you withheld for your employees.

Paying & Filing Electronically – If the tax withheld or required to be withheld on Form G-7 exceeds $500, the amount must be remitted via electronic fund transfer. You can remit your taxes and file your G-7 at the Georgia Tax Center. 

If you want dive deep into all the details grab a copy of the Georgia Employer’s Tax Guide. We’ll cover the major topics below. 

• Annual Filers – If taxes withheld or required to be withheld are $800 or less per year, you can remit payment with Form G-7 Quarterly Return on or before January 31 of the following year – if you are not required to remit such payment electronically. You also must submit a written request to file annually. 
•  Quarterly Filers – If taxes withheld or required to be withheld are $200 per month or less, but more than $800 per year, you are required to file and remit payment quarterly with Form G-7 on or before the last day of the month following the end of the quarter – if you are not required to remit such payment electronically. 
• Monthly Filers – If taxes withheld or required to be withheld exceeds $200 per month, you are required to remit payment with Form GA-V Payment Voucher on our before the 15th day of the following month – if you are not required to remit such payment electronically. 
• Semi-Weekly Filers – This is based on the “look-back” rules in federal employment tax laws. The look-back period is the 12-month period ended the previous June 30th. For instance, the look-back period for 2019 would be based on the 12-month period ending June 30, 2018. Employers who withheld more than $50,000 in aggregate payroll taxes during the look period are classified as semi-weekly payers and your payment schedule is as follows. Because semi-weekly payers are required to remit taxes via EFT, Form GA-V is not required. But, you must file a form G-7/Schedule B before the last day of the month following the end of the quarter.
  •  For paydays occuring on Wednesday, Thursday or Friday, the taxes are required to be remitted via EFT by the following Wednesday. 
  • For paydays occuring on Saturday, Sunday, Monday or Tuesday, the taxes are required to be remitted via EFT by the following Friday.  
• One Day Rule – Anyone, regardless of filer type, who is required to withhold more than $100,000 in taxes for a payday must remit those taxes via EFT by the next banking day.