2403119
My husband and I both have W-2 jobs. In Nov.2021, we made a large amount of short-term capital gain with our stocks, so we probably own much more tax than the 2021 GA state tax withholding through W-2 jobs. What should we do with it? Is there a deadline to make up for what we own?
You'll need to sign in or create an account to connect with an expert.
You have to pay your tax liability by April 18.
Is there similar penalty as the federal tax that if we own too much we will have to take?
Yes, Georgia has a penalty for underpayment of estimated taxes, which equal to 9% per year of the underpayment amount.
Please read this Georgia Revenue document for more information.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
sutherlandws
Returning Member
093052db
Level 2
shubham-123
Level 2
myo1
Level 1
denismcelroylv
New Member