Zakat is payable at 2.5% of the wealth one possesses above the Nisab, which is equal to 3 ounces of gold. Nisab is the minimum amount of wealth one must have before they are liable to pay zakat. *As of March, 2023, Nisab is estimated to be $5000. If your Zakat-Eligible Total is less than $5000, you are not required to pay Zakat
