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Net Pay Calculation:
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The Georgia Hourly Paycheck Calculator estimates net pay for hourly employees in Georgia by calculating gross pay and subtracting Georgia state tax (5.39%), federal tax, and FICA contributions.
The calculator uses the following formula:
Where:
Explanation: The calculation starts with gross pay (hourly rate × hours worked), then subtracts all applicable taxes to arrive at net pay.
Details: Accurate net pay calculation helps employees understand their take-home pay, budget effectively, and verify paycheck accuracy. It's essential for financial planning and tax compliance.
Tips: Enter your hourly rate in USD, hours worked, federal tax amount, and FICA amount. Ensure all values are positive and hours are reasonable (typically 0-80 per week).
Q1: What is the current Georgia state tax rate?
A: Georgia has a flat state income tax rate of 5.39% for 2024-2025, applied to gross earnings.
Q2: How is FICA calculated?
A: FICA consists of Social Security (6.2% on earnings up to the annual limit) and Medicare (1.45% on all earnings). Additional 0.9% Medicare tax may apply to high earners.
Q3: Are overtime hours calculated differently?
A: Yes, overtime (hours over 40 per week) is typically paid at 1.5 times the regular hourly rate under federal law.
Q4: What deductions are not included in this calculator?
A: This calculator doesn't include health insurance, retirement contributions, local taxes, or other voluntary deductions that may affect net pay.
Q5: How accurate is this calculator?
A: This provides an estimate. Actual paycheck amounts may vary based on specific tax brackets, additional deductions, and updated tax laws.