(a) A tax is imposed upon every resident of this state with respect to the Georgia taxable net income of the taxpayer as defined in Code Section 48-7-27. A tax is imposed upon every nonresident with respect to such nonresident's Georgia taxable net income not otherwise exempted which is received by the taxpayer from services performed, property owned, proceeds of any lottery prize awarded by the Georgia Lottery Corporation, or from business carried on in this state. Except as otherwise provided in this chapter, the tax imposed by this subsection shall be levied, collected, and paid annually.

(b) (1) (For effective date, see note.) The tax imposed pursuant to subsection (a) of this Code section shall be computed in accordance with the following tables:

If Georgia Taxable

Net Income Is: The Tax Is:

SINGLE PERSON

Not over $750.00 1/ %

Over $750.00 but not

over $2,250.00 $7.50 plus 2% of amount

over $750.00

Over $2,250.00 but not

over $3,750.00 $37.50 plus 3% of

amount over $2,250.00

Over $3,750.00 but not

over $5,250.00 $82.50 plus 4% of

amount over $3,750.00

Over $5,250.00 but not

over $7,000.00 $142.50 plus 5% of

amount over $5,250.00

Over $7,000.00 $230.00 plus 5.75% of

amount over $7,000.00

MARRIED PERSON FILING A SEPARATE RETURN

Not over $500.00 1%

Over $500.00 but not

over $1,500.00 $5.00 plus 2% of amount

over $500.00

Over $1,500.00 but not

over $2,500.00 $25.00 plus 3% of

amount over $1,500.00

Over $2,500.00 but not

over $3,500.00 $55.00 plus 4% of

amount over $2,500.00

Over $3,500.00 but not

over $5,000.00 $95.00 plus 5% of

amount over $3,500.00

Over $5,000.00 $170.00 plus 5.75% of

amount over $5,000.00

HEAD OF HOUSEHOLD AND MARRIED PERSONS

Not over $1,000.00 1%

Over $1,000.00 but not

over $3,000.00 $10.00 plus 2% of amount

over $1,000.00

Over $3,000.00 but not

over $5,000.00 $50.00 plus 3% of amount

over $3,000.00

Over $5,000.00 but not

over $7,000.00 $110.00 plus 4% of

amount over $5,000.00

Over $7,000.00 but not

over $10,000.00 $190.00 plus 5% of

amount

over $7,000.00

Over $10,000.00 $340.00 plus 5.75% of

amount over $10,000.00

(2) To facilitate the computation of the tax by those taxpayers whose federal adjusted gross income together with the adjustments set out in Code Section 48-7-27 for use in arriving at Georgia taxable net income is less than $10,000.00, the commissioner may construct tax tables which may be used by the taxpayers at their option. The tax shown to be due by the tables shall be computed on the bases of the standard deduction and the tax rates specified in paragraph (1) of this subsection. Insofar as practicable, the tables shall produce a tax approximately equivalent to the tax imposed by paragraph (1) of this subsection.

(c) The amount deducted and withheld by an employer from the wages of an employee pursuant to Article 5 of this chapter, relating to current income tax payments, shall be allowed the employee as a credit against the tax imposed by this Code section. Amounts paid by an individual as estimated tax under Article 5 of this chapter shall constitute payments on account of the tax imposed by this Code section. The amount withheld or paid during any calendar year shall be allowed as a credit or payment for the taxable year beginning in the calendar year in which the amount is withheld or paid.

(d) The tax imposed by this Code section applies to the Georgia taxable net income of estates and trusts, which shall be computed in the same manner as in the case of a single individual. The tax shall be computed on the Georgia taxable net income and shall be paid by the fiduciary.