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    mpobrienx1's Avatar
    mpobrienx1 Posts: 1, Reputation: 1
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    #1

    Feb 13, 2009, 03:49 PM
    GA 401k penalty 2008
    What is the GA tax penalty(%) for 401k payout in '08?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Feb 13, 2009, 03:51 PM

    There are no state penalities for a 401K withdrawal. The only penalty is the 10% early withdrawal penalty. However, The amount of the withdrawl will be added to your taxable income for both federal and state and local taxation.
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