![]() ![]() By reaching out to agency leaders in the summer and fall and lawmakers in the winter and spring, Georgians can inform the annual debate over the budget. Beyond the General Assembly, many others participate in the process, including the governor, state budget director, state economists, agency leaders and budget officials, state auditors and the public.Īdvocates need to engage with the budget process year-round. Even as Georgia is implementing its current budget, it is auditing the previous year’s budget and planning for the next one. The Georgia Constitution requires the state to maintain a balanced budget, which means the government cannot spend more money than it collects in revenues. In fact, the budget is the only legislation that the General Assembly is legally mandated to pass each year. It is the most important piece of legislation lawmakers pass. The state budget outlines Georgia’s priorities, how it plans to spend money and how much revenue it expects to collect. Under the 2021 budget the state will spend $2,392 per person, about $2.4 billion less than if spending kept pace with the state’s growth in population and inflation. Prior to the Great Recession, in Fiscal Year (FY) 2008, the state of Georgia spent about $2,613 per person. That includes $25.9 billion in state funding, $15.1 billion in federal funding and $7.1 billion in agency funds. The total budget available to the state is $48.2 billion. Georgia’s 2021 fiscal year runs Jthrough June 30, 2021. For a more detailed assessment, including other deductions or specific tax advice, consult a tax professional.2021 Tobacco Settlement Fund Budget: $211 Million (0.4 percent of Georgia’s budget) Budget Basics. ![]() This tool is designed for simplicity and ease of use, focusing solely on income tax calculations.The calculator is updated with the latest tax rates and brackets as per the 2021 tax year in Georgia. ![]() Actual tax liabilities may vary depending on various factors, including specific deductions, credits, and other individual circumstances not accounted for in this basic calculator. The calculated tax is an estimate and should be used as a guide. This is the amount you would be expected to pay based on the provided income.
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