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Form It-611 - Georgia Income Tax Forms And General Instructions - Georgia Department Of Revenue - 1999 Page 8

EXEMPT ORGANIZATIONS

An organization that had tax exempt status with the Internal Revenue Service prior to January 1, 1987

is not required to apply to the Georgia Income Tax Division for a tax exempt determination letter.

Organizations that received IRS determination letters after that date, as well as any organization desir-

ing a Georgia income tax determination letter for any reason, must make application using Georgia form

3605. A non-profit corporate charter does not constitute exemption from income tax.

Each exempt organization must annually file a copy of the forms they file with the Internal Revenue

Service, such as Federal forms 990, 990-EZ, etc. The due date for filing the copy of the Federal return

with Georgia is the same as the due date for filing with the Internal Revenue Service.

An exempt organization that has unrelated business income from Georgia sources must file Georgia

form 600-T annually, and pay income tax at the rate of 6%. The due date for filing the return and pay-

ing the tax is the same as the due date for filing Federal form 990-T with the Internal Revenue Service.

Any correspondence relating to exempt organizations should be addressed to:

Georgia Income Tax Division

Post Office Box 740385

Atlanta, Georgia 30374-0385

NEW INFORMATION

The following house bills were passed by the 1999 legislature:

HB 147 (O.C.G.A. §48-7-29.3) This bill provides for a tax credit of $25 per employee for any “qualified

transportation fringe benefit” provided by an employer to any employee as provided in Section 132(f) of

the Internal Revenue Code of 1986, as amended. This credit is effective for tax years beginning on or

after January 1, 2001.

HB 438 (O.C.G.A. §48-7-42) This bill authorizes members of an affiliated group of corporations to assign

any earned income tax credit to another member of the taxpayer’s affiliated group as defined in section

1504 of the Internal Revenue Code.

HB 610 (O.C.G.A.§ 48-7-40.6) This bill describes a new and improved child care credit. Now 75% of the

cost of operations less any amounts paid by employees represents the credit claimed. New with this bill

is a second credit that allows a 100% write off over ten years for depreciable assets, which are pur-

chased in establishing a child care center. The new child care provisions are effective for tax years

beginning on or after January 1, 2000.

If you have any questions about any of these new laws call the corporate tax conferee’s office at 404-

656-4171.

If your corporation makes quarterly estimate payments of $10,000 or more you may be required to make

those payments via electronic funds transfer (see page 9).

The Department’s web site can be accessed at www2.state.ga.us/departments/dor/. Georgia law can

be found at Complete copies of the bills are available at

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Form It-611 - Georgia Income Tax Forms And General Instructions - Georgia Department Of Revenue - 1999 Page 8