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This form is for Production Companies withholding Georgia income tax.
G2-A. This form is for withholding on Distributions to Nonresident members and shareholders.
Section 48-7-128 generally requires that 3 percent of the purchase price be withheld. However, if the gain recognized on the sale is less than the purchase price, and the seller provides the buyer with an affidavit of gain (see form IT-AFF2), then the buyer may withhold 3 percent of the amount of the gain.
Withholding on Sales or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents.
Withholding Tax on Sale or Transfer of Real Property and Associated Tangible Personal Property by Nonresidents. As used in this Code section, the term nonresident of Georgia shall include individuals, trusts, partnerships, corporations, and unincorporated organizations.
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You must have lived in the home for at least two of the last five years. You must also not have excluded gain from the sale of another home within the last two years. An important thing to note is that the amount you can exclude is limited. A single person can exclude up to $250,000 in profit.
GA income tax rates: Single filers Tax rateTaxable income bracketTax owed1%$0-$750.1% of taxable income.2%$751-$2,250.$8 plus 2% of the amount over $750.3%$2,251-$3,750.$38 plus 3% of the amount over $3,750.4%$3,751-$5,250.$83 plus 4% of the amount over $5,250.2 more rows Dec 20, 2023
(a) Withholding Requirements. Withholding is required at the rate of 4 percent with respect to the nonresident members share of taxable income sourced to this state, unless exempted by this regulation or O.C.G.A. 48-7-129.

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