Looking for a Georgia Income Tax Forms And Templates? Download it for free!

INSTRUCTIONS FOR NONRESIDENT SHAREHOLDERS

Nonresident shareholders of corporations doing business both within and without Georgia shall compute their portion of the

corporation’s allocated and apportioned income from the schedules on Form 600S. The Georgia net income of nonresidents

computed on Schedule 9, Line 7 should be multiplied by the percentage of stock owned. The result of this calculation yields the

beginning taxable income for the nonresident which should be reported on the Georgia individual tax return. This beginning

taxable income should be adjusted for the separately stated items mentioned in the “Federal Tax Changes” section on page 1

and the “ Adjustments to Federal Income of Shareholders” section on page 6. Under Sections 48-7-21 and 48-7-27 of the

Georgia Code thereunder, all nonresident shareholders must execute an agreement on Form 600S- CA wherein the shareholders

agree to pay Georgia income tax on their portion of the corporation’s Georgia taxable income or the S Corporation election will

be terminated by the Commissioner.

Special Note: Any S Corporation with nonresident members shall be subject to withholding tax unless a composite return,

Form IT CR, is filed or the aggregate annual member’s share of the taxable income sourced to Georgia is less than $1,000.00.

However, if the shareholder has a properly executed 600S-CA, withholding is not due provided the shareholder reports the

income and pays the tax. Permission to file a composite return is not required. To ensure Georgia’s recognition of your S

Corporation election, attach a properly completed Form 600S CA for each nonresident shareholder to Form 600S when it is filed,

even if a composite return has been filed. Please see Page 11 for details as to when and how often the 600S CA is required.

Please check the “Composite Return Filed” box on Form 600S, Page 1. For composite return information and/or forms call

1-877-423-6711.

CORPORATION ESTIMATED INCOME TAX

For Georgia residents, income on most S Corporations flows through to the individual shareholders and estimated tax is paid

accordingly at the individual level. If your S Corporation must pay estimated tax at the corporate level, see the Estimated Income

Tax page of the Form IT 611, visit our website at

or call 1-877-423-6711 for blank forms and instructions.

NET WORTH TAX TABLE

DOMESTIC AND DOMESTICATED FOREIGN CORPORATIONS

Based on net worth including issued capital stock, paid-in surplus, and earned surplus (Schedule 3, Line 4).

FOREIGN CORPORATIONS

Based on net worth including issued capital stock, paid-in surplus, and earned surplus employed within Georgia (Schedule 3,

Line 6).

Not exceeding ...................... $ 10,000.00

................................................................................................. 10.00

Over ..................................... 10,000.00 and not exceeding

25,000.00 ................................ 20.00

Over ..................................... 25,000.00 and not exceeding

40,000.00 ................................ 40.00

Over ..................................... 40,000.00 and not exceeding

60,000.00 ................................ 60.00

Over ..................................... 60,000.00 and not exceeding

80,000.00 ................................ 75.00

Over ..................................... 80,000.00 and not exceeding

100,000.00 ................................ 100.00

Over ..................................... 100,000.00 and not exceeding

150,000.00 ................................ 125.00

Over ..................................... 150,000.00 and not exceeding

200,000.00 ................................ 150.00

Over ..................................... 200,000.00 and not exceeding

300,000.00 ................................ 200.00

Over ..................................... 300,000.00 and not exceeding

500,000.00 ................................ 250.00

Over ..................................... 500,000.00 and not exceeding

750,000.00 ................................ 300.00

Over ..................................... 750,000.00 and not exceeding

1,000,000.00 ................................ 500.00