Form 500 Es - Individual Estimated Tax - 2003
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1INSTRUCTIONS FOR ESTIMATED TAX FOR INDIVIDUALS AND FIDUCIARIES
WHO MUST FILE ESTIMATED TAX. Each individual or fiduciary subject
WHEN AND WHERE TO FILE. Estimated tax required from persons not
to Georgia income tax who reasonably expects to have gross income
regarded as farmers or fishermen shall be filed on or before April 15 of the
during the year which exceeds (1) personal exemption, plus (2) credit for
taxable year, except if the above requirements are first met on or after
dependents, plus (3) estimated deductions, plus (4) $1,000 income not
April 1 and before June 1, estimated tax must be filed by June 15; on or
subject to withholding.
after June 1 but before September 1, by September 15; and on or after
September 1, by January 15 of the following year. Individuals filing on a
EXCEPTION. Estimated tax is not required if, under an agreement be-
fiscal year basis ending after December 31 must file on corresponding
tween the employer and the employee, additional tax is withheld to cover
dates.
income that normally would require estimated tax to be filed. Individuals
whose gross income from farming or fishing is at least two thirds of the
Make check or money order payable to:
total gross income from all sources may: (a) file as the other taxpayers or
“Georgia Income Tax Division”
(b) file their return by March 1, 2003 and pay the full amount of tax due by
that date.
Payment should be mailed to:
PURPOSE OF ESTIMATED TAX. The purpose is to enable taxpayers
having income not subject to withholding to currently pay their income tax.
Georgia Department of Revenue
Taxpayers are also required to file an annual return claiming credit thereon
P.O. Box 740319
for amounts paid or credited to their estimated tax.
Atlanta, Georgia 30374-0319
PAYMENT OF ESTIMATED TAX. Payment in full of your estimated tax may
be made with the first required installment or in equal installments during this
HOW TO COMPLETE FORM 500 ES PAYMENT. Calculate your estimated
year on or before April 15, June 15, September 15, and the following
tax by using the Schedule on Page 12. Line 12 is your estimated tax for
January 15. Please include your Social Security number on your check.
the year. Divide Line 12 by the number of quarters of liability (see “When
and Where to File” above) to compute the amount to be submitted quarterly.
HOW TO ESTIMATE YOUR TAX. A schedule for computing your esti-
Enter this amount on Form 500 ES and submit to the Georgia Income Tax
mated tax is enclosed. Tax rate schedules are furnished on Page 21.
Division. A coupon booklet will be sent to you for the remaining quarters.
PENALTIES. Failure to comply with the provisions of this law relative to
DEDUCTION AMOUNT FOR EACH EXEMPTION
underpayment of installments may result in the assessment of additional
EFFECTIVE TAX YEAR 2003.
charges as a penalty. Willful failure to pay estimated tax will constitute a
Personal Exemption for self and spouse ................................... $2,700
misdemeanor.
Dependent Exemption ................................................................ $3,000
STANDARD DEDUCTION.
Maximum Retirement Income Exclusion .................................... $15,000
Single and head of household .............................................. $2,300
Georgia Public Revenue Code Section 48-2-31 stipulates that
Married filing jointly ................................................................ $3,000
taxes shall be paid in lawful money of the United States,
Married filing separately ........................................................ $1,500
free of any expense to the State of Georgia.
Additional: Age 65 or older or blind. These additional deductions are for
you and your spouse but only if the standard deduction is used ($1,300).
These amounts are standard regardless of income.
MAIL ONLY THE COUPON AND PAYMENT. DO NOT MAIL ENTIRE PAGE
Cut along dotted line
500 ES
MAIL TO:
(rev. 7/02)
Individual Estimated Tax
Georgia Department of Revenue
Georgia Department of Revenue
P.O. Box 740319
2003
Atlanta, GA 30374-0319
USE THIS FORM FOR THE TAX YEAR INDICATED ONLY!
Telephone No. (404) 417-4480
Calendar Year Ending 2003 or Fiscal Year Ending__________20____
or 1-888-247-8175
Taxpayer’s SSN
Spouse’s SSN
Tax Year
Quarter
Due Date
Vendor Code
2003
N/A
NAME AND ADDRESS
If name and address is incorrect, mark the change of address box and make changes
TYPE OF RETURN
Address Change
Individual
Fiduciary
DO NOT STAPLE, PAPER CLIP OR ATTACH CHECK STUB
Amount Paid
Page 11
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