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Category: Georgia

Georgia Low Income Credit

You may claim the low income credit if your Federal adjusted gross income is less than $20,000 and you are not claimed or eligible to be claimed as a dependent on another taxpayer's Federal or Georgia income tax return. Full-year residents should claim the credit on Form 500, Schedule 2. Part-year residents may only claim the credit if they were residents at the end of the tax year. Taxpayers filing a separate return for a taxable year in which a joint return could have been filed can only claim the credit that would have been allowed had a joint return been filed.


Note: You cannot claim the low income credit if you are an inmate in a correctional facility or if you receive a food stamp allotment. Please note for tax years beginning on or after January 1, 2010, the credit cannot exceed the taxpayer's income tax liability.


Low Income Credit Table

* Under $6,000 - $26

* $6,000 but not more than $7,999 - $20

* $8,000 but not more than $9,999 - $14

* $10,000 but not more than $14,999 - $8

* $15,000 but not more than $19,999 - $5


Note: All claims for the low income credit, including claims on amended returns, must be filed on or before the end of the 12th month following the close of the tax year for which the credit may be claimed.


Please refer to the following link to view the Low Income Credit Worksheet and see page 14.