Hi,
I have received interest on my deposits in bank. I have got 1099 INT for the same from the bank. Federal income has been withheld on some of the amount.
Do I need to pay Georgia State taxes on interest earned on the bank deposits?
Thanks
MKV
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Hi,
I have received interest on my deposits in bank. I have got 1099 INT for the same from the bank. Federal income has been withheld on some of the amount.
Do I need to pay Georgia State taxes on interest earned on the bank deposits?
Thanks
MKV
You must file federal income tax return if you total income meets the filing requirement.
Same for Georgia state.
Since you report your federal adjusted gross income on your GA tax return, any interest you received (as reported on a 1099-INT) is included as income for both your federal and state income taxes.
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