The Georgia Form 500 is too long and difficult to complete. It is 15 pages long. Page 1 includes name, address and marital status. Page 2 includes dependents. Page 3 starts with federal adjusted gross income and “adjustments” from Page 5. Page 4 includes contributions for everything plus taxable income and tax owed or overpaid. Page 5 is called Schedule 1 and includes “adjustments”, but it doesn’t say if you subtract these or add them. Pages 6 and 7 include credit usage. Page 8 lists taxable income sources from the federal form versus the Georgia form. Page 9 through 15 list special tax credits of every stripe.
This form is embarrassing to those of us who live in Georgia. We feel like we have to apologize to those who have just moved here. I know we are a sovereign State, but the legislature needs to clean this up.
All income sources need to be totaled on the first page of the form, including taxable income. It isn’t clear that income from Social Security, Annuities and IRA Distributions are exempt. The section called “Subtractions” is confusing.
Georgia may need its own Schedule C form for self-employed and farmers to show their gross receipts, expenses and taxable income. Contributions to almost everything need to be eliminated or condensed.
Norb Leahy, Dunwoody GA Tea Party Leader