Fillable Georgia Form 600s - Corporation Tax Return

Georgia Form 600s - Corporation Tax Return - 2015 Page 6

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Page 6

600S/2015

Georgia Form

(Corporation) Name

FEIN

ASSIGNED TAX CREDITS

(ROUND TO NEAREST DOLLAR)

SCHEDULE 12

Georgia Code Section 48-7-42 provides that in lieu of claiming any Georgia income tax credit for which a taxpayer otherwise is eligible

for the taxable year, the taxpayer may elect to assign credits in whole or in part to one or more “affiliated entities”. The term “affiliated

entities” is defined as:

1) A corporation that is a member of the taxpayer’s affiliated group within the meaning of Section 1504(a) of the Internal Revenue

Code; or

2) An entity affiliated with a corporation, business, partnership, or limited liability company taxpayer, which entity:

(a) Owns or leases the land on which a project is constructed;

(b) Provides capital for construction of the project; and

No carryover attributable to the unused portion of any previously claimed or assigned credit may be assigned or reassigned, except if

the assignor and the recipient of an assigned tax credit cease to be affiliated entities, then any carryover attributable to the unused

portion of the credit is transferred back to the assignor of the credit. The assignor is permitted to use any such carryover and also shall

be permitted to assign the carryover to one or more affiliated entities, as if such carryover were an income tax credit for which the

assignor became eligible in the taxable year in which the carryover was transferred back to the assignor. In the case of any credit that

must be claimed in installments in more than one taxable year, the election under this subsection may be made on an annual basis with

respect to each such installment. For additional information, please refer to Georgia Code Section 48-7-42.

If the corporation filing this return is assigning tax credits to other affiliates, please provide detail below specifying where the tax credits

are being assigned.

All assignments of credits must be made before the statutory due date (including extensions) per O.C.G.A. § 48-7-42 (b).

Credit Type

Corporation Name

FEIN

Amount of Credit

Credit Certificate #

Code

(if applicable )

Georgia Form 600s - Corporation Tax Return - 2015 Page 6

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