lmoesker
New Member

Will my early withdrawal of a Traditional IRA also incur a Georgia state tax penalty?

I am planning on taking an early withdrawal of some of my traditional IRA.  I understand that I will have to pay a 10% federal tax penalty, in addition to claiming the amount as income.  My question was if there was a Georgia state tax penalty (I live in GA) that I will have to pay as well.  Again, I understand I will need to pay state income tax on the amount received.

Thank you!