Form It 611 - Corporation Income Tax Forms And General Instructions - 2011 Page 4
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20GENERAL INFORMATION: INCOME TAX
INTRODUCTION
LATE PAYMENT PENALTY
A taxpayer having an extension must prepay the Georgia tax
The following instructions apply to two separate taxes on
using Form IT-560C. Credit for this prepayment should be
corporations. One is an income tax at a rate of 6% on taxable
claimed on Form 600, Schedule 3, Line 2. If tax is not paid by
income. The second is a graduated tax based on corporate net
the statutory due date of the return, a late payment penalty of
worth. Instructions for net worth tax begins on Page 6.
1/2 of 1% per month will accrue until the tax is paid. This
Both taxes must be paid annually. Schedule 3 of the return is
penalty will accrue from the statutory due date regardless of
designed to combine the liabilities, any penalty and interest
any extension for filing the return. See page 4 for more
due, any business tax credits, and the credits for prepayment,
information. Late payment penalty is not due if the return is
to result in a single balance due or overpayment.
being amended due to an IRS audit.
FILING REQUIREMENTS
All corporations that own property or do business in Georgia,
CORPORATE PARTNERS OF PARTNERSHIPS
or that have income from Georgia sources are required to file a
A corporation will be considered to own property in Georgia,
Georgia income tax return. (Please round all dollar entries.) A
do business in Georgia, or have income from Georgia sources
corporation electing to file under the Internal Revenue Code
whenever the corporation is a partner, whether limited or
provisions for S corporations having one or more stockholders
general, in a partnership which owns property or does business
who are nonresidents of Georgia must file consent Form 600S-
in Georgia, or has income from Georgia sources.
CA on behalf of each nonresident. Failure to furnish a properly
executed Form 600S-CA for each nonresident stockholder
CONSOLIDATED RETURNS
negates Georgia’s recognition of the election, requiring each
Regulation 560-7-3-.13 applicable to consolidated returns
corporation to file Form 600 and pay the regular corporate tax.
became effective for tax years beginning on or after January 1,
Note: The requirements as to when and how often the
2002. It substantially changed the rules for filing consolidated
600S CA is required to be filed were changed for tax
returns. Visit our website at for more
years beginning on or after January 1, 2008. See the
information, including instructions on proper return preparation
611S Booklet for more information.
and mailing.
Please note: The approval letter must be attached to all
WHEN AND WHERE TO FILE
consolidated returns.
The return is due on or before the 15th day of the 3rd month
following the close of the taxable year. If the due date falls on a
Beginning with the 2005 tax year, consolidated groups that
weekend or holiday, the return shall be due on the next day
conduct 100% of their business in Georgia must request
that is not a weekend or a holiday. This would be March 15th
permission to file a consolidated return using Form IT-CONSOL.
if filing on a calendar-year basis. Returns should be mailed to
The request must be submitted 75 days before the due date of
Georgia Department of Revenue, Processing Center, P.O. Box
the return (including extensions). Failure to request permission
740397, Atlanta, Georgia 30374-0397.
by such time will require the filing of separate returns for the
applicable tax year.
WHEN ELECTRONIC FILING IS REQUIRED
Form IT-CONSOL should be mailed to: Georgia Department of
Taxpayers that remit payments by electronic funds transfer,
Revenue, Office of Tax Policy, Suite 15316, 1800 Century Blvd,
whether on a mandatory or voluntary basis, must file all asso-
NE, Atlanta, GA 30345. Please note: Tax returns should
ciated returns electronically. Also, a non-individual income
not be sent to this address. See “When and Where to
tax return must be electronically filed when the federal coun-
File” for the mailing addresses.
terpart of such return is required to be filed electronically pur-
suant to the Internal Revenue Code of 1986 or Internal Rev-
enue Service regulations.
AMENDED RETURNS
Georgia has no separate form for filing an amended return. To
FREQUENTLY ASKED QUESTIONS
amend a return, check the amended return block on Form 600.
Frequently asked questions regarding corporations, S
A copy of the Federal Form 1120X or Federal audit adjust-
corporations, partnerships, LLCs, and nonresident withholding
ments must be attached. Mail the amended return to Georgia
are available on our website at .
Department of Revenue, Processing Center, P.O. Box 740397,
Atlanta, Georgia 30374-0397.
Page 3
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