Georgia Form 600-T - Exempt Organization Unrelated Business Income Tax Return Page 3
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PERIOD TO BE COVERED
INSTRUCTIONS FOR FORM 600-T EXEMPT
The taxable period for Georgia purposes shall be the same
ORGANIZATION UNRELATED BUSINESS
as for Federal purposes.
INCOME TAX RETURN
ALLOCATION AND APPORTIONMENT OF
FILING REQUIREMENTS
INCOME AND EXPENSES
Every exempt organization, which is required to file a Form
For those organizations having unrelated business income
990-T with the Federal Government and has unrelated trade
for Georgia and in other states, the income and expenses
or business income from Georgia sources, must file a
related to its production should be allocated and apportioned
Georgia Form 600-T.
to clearly reflect the Georgia unrelated business taxable
income. Sufficient information should be attached to the
WHEN AND WHERE TO FILE
Form 600-T to support the allocation and apportionment of
The return is due on or before the due date of the Federal
income and expenses to Georgia.
Form 990-T as provided under the Internal Revenue Code.
Returns should be mailed to the Georgia Department of
PENALTIES AND INTEREST
Revenue, Processing Center, P O Box 740397, Atlanta, GA
30374-0397.
Penalties provided by the Georgia Code are: For delin-
quent filing- 5% of tax not paid by the original due date
EXTENSION OF TIME
for each month or part of month of delinquency. For
A reasonable extension of time for filing may be granted by
delinquent payment- 1/2 of 1% due for each month or
the Commissioner upon application on Form IT-303. This
part month of delinquency. An extension of time for
must be filed prior to the date the return is due and must
filing does not alter delinquent payment penalty. Delin-
show that the delay is due to a reasonable cause. If the
quent payment is not due if the return is being amended
taxpayer has received from the Internal Revenue Service an
due to an IRS audit. For negligent underpayment- 5% of
extension of time within which to file his Federal return, the
amount of underpayment. For fraudulent underpay-
taxpayer need not apply to the Georgia Department of
ment- 50% of amount of underpayment. Interest
Revenue for a similar extension of time. All that is required
accrues at the rate of 12% per year from the due date for
is for a copy of the request for the Federal extension to be
payment to the date paid. An extension of time for filing
attached to the Georgia return. Interest accrues at the rate
does not alter the interest charge.
of 12% per year on any tax due from the regular due date of
the return until paid. Georgia Law prohibits the granting of
Underpayment of estimated tax (UET) Penalty.
an extension of over 6 months from the due date of the return.
Attach Form 600 UET and enter the amount on line 6.
Also if a penalty exception applies check the “UET
TAX RATE
Annualization Exception attached” box.
As provided by Georgia Code Section 48-7-25 unrelated
business income shall be taxed at the rate of 6%.
Note: The combined total of the penalty for delinquent filing
and penalty for delinquent payment cannot exceed 25% of
ACCOUNTING METHOD
the tax not paid by the original due date.
Taxable income must be computed using the method of
accounting regularly used in keeping the organization’s books
FEDERAL FORM 990-T
and records. In all cases, the method adopted must clearly
A copy of the Federal Form 990-T and supporting schedules
reflect taxable income.
(and any extensions) must be attached to this return.
CREDITS
“Georgia Public Revenue Code Section 48-2-31 stipulates
Enter credits which are attributable to unrelated trade or
that taxes shall be paid in lawful money of the United States
business income from Georgia sources. See Form 600
free of any expense to the State of Georgia”.
for the credit code types that may apply (note not all
credits apply to 600T).
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