Motivated by recent scanning tunnel microscopy (STM) experiments, we present a theoretical study of the electronic and magnetic properties of the Mn-induced acceptor level obtained by substituting a single Ga atom in the (110) surface layer of GaAs or in one of the atoms layers below the surface. We employ a kinetic-exchange tight-binding model in which the relaxation of the (110) surface is taken into account. The acceptor wave function is strongly anisotropic in space and its detailed features depend on the depth of the sublayer in which the Mn atom is located. The local-density-of-states (LDOS) on the (110) surface associated with the acceptor level is more sensitive to the direction of the Mn magnetic moment when the Mn atom is located further below the surface. We show that the total magnetic anisotropy energy of the system is due almost entirely to the dependence of the acceptor level energy on Mn spin orientation, and that this quantity is strongly dependent on the depth of the Mn atom.