How to Calculate Taxes on Paycheck in Georgia
Understanding Your Paycheck Taxes
Federal Income Tax
Federal income tax is calculated based on your filing status and taxable income. The rates are progressive, meaning different portions of your income are taxed at different rates.
2024 Federal Tax Brackets (Single)
$0 – $11,600
10%
$11,601 – $47,150
12%
$47,151 – $100,525
22%
$100,526 – $191,950
24%
$191,951 – $243,725
32%
$243,726 – $609,350
35%
$609,351+
37%
Georgia State Tax
Georgia uses a progressive tax system with six brackets. The rates range from 1% to 5.75%.
$0 – $750
1%
$751 – $2,250
2%
$2,251 – $3,750
3%
$3,751 – $5,250
4%
$5,251 – $7,000
5%
$7,001+
5.75%
FICA Taxes
FICA (Federal Insurance Contributions Act) taxes include Social Security and Medicare:
- Social Security: 6.2% of gross pay (up to $168,600 in 2024)
- Medicare: 1.45% of gross pay (no income limit)
- Additional Medicare Tax: 0.9% on income over $200,000
Example Tax Calculation
For a $60,000 annual salary paid bi-weekly:
- Gross Pay: $60,000 ÷ 26 = $2,308 per paycheck
- Federal Tax: $2,308 × 22% = $508
- State Tax: $2,308 × 5.75% = $133
- Social Security: $2,308 × 6.2% = $143
- Medicare: $2,308 × 1.45% = $33
- Total Taxes: $817 per paycheck