Form It Cr - Georgia Nonresident Composite Tax Return Partners And Shareholders - 2012 Page 2

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Composite Return Payment Voucher

GENERAL INSTRUCTIONS

As an alternative to withholding on nonresident partners, shareholders or members, the Partnership, S Corporation or Limited Liability Company may file

a composite return. Permission is not required. Only nonresidents who are not otherwise required to file a return may be included in the computation.

However, an individual (a natural person) shall be allowed to be included on a composite return even if he/she is otherwise required to file a return provided

he/she uses option 3. You must create your own schedule for the computation of the tax using the options described later in these instructions. Your

schedule must also list any nonresident partner(s) or shareholder(s) not included in the computation along with their identification number(s).

UET Penalty Exception: Estimates are required if the composite tax exceeds $500 for the year. If the entity qualifies for an under-

estimated tax penalty exception, please check the UET Penalty Exception box and put the adjusted penalty on line 5. a. Please use

Form IT-CR UET to compute the penalty.

Due Dates: All due dates for composite returns, estimated tax and extensions are the same as those for individual filers unless the entity

is a fiscal year filer. A fiscal year entity should file its return within 3 ½ months of the fiscal year end.

Amended Returns: Amended composite returns must be filed during the same period as individual returns. Use Form IT-CR and check

the “Amended Return” box at the top.

Electing option 1, 2 or 3: Individuals may elect one of the three options on a member-by-member basis. These options are described

in the instructions. Once the return is filed the election cannot be changed. The election of option 1, 2 or 3 is made each year. Options

1 – 3 do not allow for any adjustments to income such as self employed health insurance, Keogh, SEP or any other adjustments

normally allowed in computing adjusted gross income. For Corporations, Partnerships,Trusts and Estates, please see the instructions

that follow.

Extensions: Georgia honors a Federal extension when the Georgia return is filed along with the Federal approval form on or before

the extended Federal due date. If it is not neccessary to requ est a Federal extension, use Form IT-303 to request an extension to file

the Georgia return. Any tax due should be paid on Form IT-560C by the statutory due date of the extension voucher.

Business Credits:

Information about business tax credits is available at

For additional information about business credits, please call 1-877-423-6711.

Carryback of NOL: Losses on a composite return are not allowed t o be carried back.

PENALTIES AND INTEREST

A. Late filing of return-5% of the tax not paid by the original due date for each month or fractional part thereof-up to 25%.

B. Failure to pay tax shown on a return by due date-1/2 of 1% of the tax due for each month or fractional part thereof-up to 25%.

Note: The combined total of the penalty for late filing of return and penalty for failure to pay tax shown on a return cannot exceed 25% of the tax not paid by the

original due date.

C. Negligent underpayment of tax-5% of the underpayment.

D. Fraudulent underpayment-50% thereof.

E. Failure to file estimated tax-9% per annum for the period of underpayment. The UET form is available upon request for computation of underestimated installments.

F. Interest is computed at 1% per month on any unpaid tax from the due date until paid. An extension of time for filing does not give relief of late payment penalty

or interest.

Forms: Additional forms may be obtained by calling 1-877-423-6711 or by downloading them from our website at

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PLEASE DO NOT STAPLE. PLEASE REMOVE ALL CHECK STUBS.

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MAIL TO:

CR PV

(Rev. 10/12)

Processing Center

Composite Return Payment

Georgia Department of Revenue