Georgia Sales Tax
The foods, medicines that are prescribed by the licensed doctors and physicians, certain medical devices and grocery items are exempt from the sales tax and use tax in Georgia but the local county levy discretionary sales surtax on the food items. The sales taxes are assessed and collected by the Georgia Department of Revenue annually, quarterly or monthly.
In order to set up any business in Georgia, the person needs to obtain the sales tax license from the department of revenue. If the goods or services that are traded by that business fall under the taxable items, the sales tax must be given to the government unless a specific transaction is exempt from sales tax. In Georgia, transaction of any tangible property is taxable. The Georgia department of revenue has now started the online tax filing system making it easier than before.
The local jurisdictions in Georgia have the authority to impose additional sales taxes. In the state of Georgia the sales tax is levied both by the state and local counties.
While the state sales tax rate remains common for all, the local County Tax rate may differ from one county to another. The major locally imposed sales taxes in Georgia are local option tax, homestead local option tax, special purpose local option tax, educational local option tax and Metropolitan Atlanta Rapid Transit Authority (MARTA) tax. The city of Atlanta also collects additional 1 percent municipal options sales tax.
The Georgia Legislature has declared the Georgia Sales Tax Holiday in 2007 to be held from August 2-August 5, 2007. This sales tax holiday weekend is no doubt drawing various shoppers from the surrounding states to enjoy the tax exemption on some specific items. The website of the Georgia Department of Revenue is laden with all the necessary information on the sales tax holiday weekend in Georgia. For the sales tax holiday in Georgia in 2007, the government has not specified any limit on how many clothing items can be purchased by a single consumer.
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Last Updated on : 5th July 2013