Georgia Withholding Requirements for Non Residents

Home Owners | Real Estate | Taxes |

Per O.C.G.A. Section 48-7-128, income tax is to be withheld at a rate of 3 percent of the sales price on sales or transfers of real property as well as associated tangible personal property by nonresidents of Georgia.

There are several exceptions to this rule including:

  • Transactions where the purchase price is less than $20,000.00.
  • Foreclosure or In Lieu of Foreclosure transactions
  • Sales where the seller is a tax exempt organization

To read the entire list of exemptions as well as to read more information, click HERE.

Also, don’t forget that we have a wonderful “Resources” section on our website full of information for you, your buyer and your seller.  You can check it out, by clicking HERE.

*For informational purposes only.  Not to be relied upon as legal advice.  Nothing in this blog should be construed as creating an attorney-client relationship.  MMH is not responsible for, does not endorse or accept liability for any externally linked site or its content.  MMH does not give any representation regarding the safety, reliability or accuracy of the content or materials contained on any external website.