Greetings, Lynn Spencer here, CEO of Killingsworth Spencer CPAs. Monday, December 16th is the deadline to pay Georgia P-T-E 4th quarter estimates. To calculate the amount of tax owed, guestimate your net income for 2024 and multiply that result by 5.49%; then subtract the amount of GA PTE taxes you may have paid in the previous three quarters of 2024.
We recommend that you pay PTE taxes online at gtc.dor.ga.gov. PTE is considered an estimated Corporate Income Tax. The tax period is Dec. 31st, 2024. For a more detailed explanation of PTE, see our March 2024 Blogpost here.
Clients of Killingsworth Spencer CPAs were provided with 2024 estimate amounts with their 2023 tax returns.
Disclaimer: This post is for general information only and should not be taken as legal or financial advice