Georgia Form 900 - Georgia Financial Institutions Business Occupation Tax Return Page 4
Download a blank fillable Georgia Form 900 - Georgia Financial Institutions Business Occupation Tax Return in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Georgia Form 900 - Georgia Financial Institutions Business Occupation Tax Return with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4Print
Clear
Page 4
DEDUCTIONS:
1.
Total interest paid on deposits.
Effective for tax years beginning on or after January 1, 2001,
2.
Total interest paid on other liabilities.
if a depository financial institution has elected Subchapter ‘S’
3.
Operating costs associated with building housing financial
status the credit may be passed through on a pro rata basis to
institutions operations not to exceed rental income derived
the institution’s shareholders.
from such building (applicable to Mutual corporations only).
If the amount of the pro rata credit exceeds a shareholder’s
Items 1 and 2 must be determined by a special calculation pro-
individual income tax liability, the amount of any unused credit
portion that Item (3) under above exclusions bear to the gross
may be credited over a period of five years from the tax year
receipts, including above additions, as calculated before making
in which the unused credit arose. No such credit shall be
any deductions or exclusions listed above. Enter the deductions
allowed the taxpayer against prior years’ tax liability.
and the amount of adjustment in Schedule 7, Page 2, Form 900,
to arrive at the net amount deductible.
Enter on Line 1, Schedule 4, Form 900, the amount of tax
shown on Line 1, Schedule 3, Form 900. Also enter on Line 2,
GEORGIA GROSS RECEIPTS
Schedule 4, Form 900, the amount of Business License taxes
Effective March 29, 1996 and applicable to all returns due on or
paid by banks and mutual financial institutions on Form PT440
after March 1, 1997, Georgia Code Section 48-6-95(b)(1) pro-
to the county and/or municipality.
vides that Georgia gross receipts for a financial institution con-
If you are required to file more than one return for Business
ducting business both within and outside the State be determined
License taxes, Form PT440, enter on Line 2, Schedule 4, Form
using the apportionment factor prescribed under Georgia Code
900, the total of Business License taxes shown on all Forms
Section 48-7-31(d)(2)(A).
PT440.
Georgia Code Section 48-7-31(d)(2)(A) states, in part, that the
The amount shown on Line 3, Schedule 4, Form 900, repre-
gross receipts factor is a fraction, the numerator of which is the
sents the total amount of tax credit available for transfer to the
total gross receipts from business done within this State during
Corporate Income Tax Return, Form 600, to be applied against
the tax period and the denominator of which is the total gross
the corporate income tax liability. Copies of Form PT440 MUST
receipts from business done everywhere for the tax period. Gross
be attached to Form 900.
receipts are in this State if the receipts are derived from custom-
NOTICE: This tax credit is NOT allowable against the corpo-
ers within this State or if the receipts are otherwise attributable to
rate net worth tax which is a separate tax, computed on the
this State’s marketplace.
corporate income tax return.
Using Schedule 8, Page 2, determine the Georgia gross receipts
STOCK ASSOCIATIONS
factor by dividing the gross receipts within Georgia by the gross
receipts everywhere. Multiply the balance of gross receipts (Line
Mutual Financial Institutions which have capital stock will be
1, Schedule 8, Page 2) by the Georgia gross receipts factor. En-
treated as a bank for State Occupation tax purposes.
ter the amount of gross receipts attributable to Georgia in Line 3,
ACCOUNTING METHOD
Schedule 8, Page 2 and in Line 8, Schedule 1, Page 1.
The election of cash or accrual method for computation of
COMPUTATION OF TAX
gross receipts will be permitted with filing of the first return.
The State Occupation tax is 0.25% of the adjusted gross receipts
Subsequent returns must be filed on same basis as elected
shown on Line 1, Schedule 2, Page 1, Form 900. The amount of
with the first return, unless permission to change accounting
tax must be entered in Line 3, Schedule 2, on Line 1, Schedule
method is granted by the Commissioner.
3, and on Line 1, Schedule 4.
AMENDED RETURNS
TAX CREDITS
Georgia has no special form for the filing of an amended re-
Municipal and County Business License taxes and State Occu-
turn. Form 900, with attached explanation, should be used
pation taxes will be allowed as a dollar for dollar tax credit against
and the checkbox “AMENDED” should be checked. Attach
the State income tax liability of the depository financial institution
check to cover any additional tax plus interest at 12 percent
for the calendar or fiscal tax year during which the taxes are
per year. If you are due refund, no further correspondence
paid. If the tax credit exceeds the income tax liability of such
will be necessary, as your return will be processed for a
institution for any year, the amount of any unused credit may be
refund of any overpayment of taxes.
credited over a period of five years from the tax year in which the
INQUIRIES
unused credit arose.
For forms or additional information on Georgia Financial Insti-
Effective for tax years beginning on or after January 1, 1996, if
tutions Business Occupation Tax Return, Form 900, contact
the assets of an institution are acquired by another institution in
the Corporate Operations Unit at 1-877-423-6711.
a transaction described in Section 381 (a) of the Internal Rev-
enue Code of 1986, the acquiring institution can use any unused
Inquiries about Form PT440 should be directed to the county
credit of the distributor or transferor institution.
and/or municipality imposing the local business tax.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial