Form It Cr - Georgia Nonresident Composite Tax Return Partners And Shareholders Page 5
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INSTRUCTIONS
For individuals, there are three options in which a composite return may be filed. No other options or alternatives are allowed. A
review of the options will show that option 1 is very simple but more tax is paid. Option 2 lets you prorate the exemptions and deduc-
tions using the entity’s income. For option 3, a 6% tax rate is applied to the Georgia income. These options may be applied on a
member-by-member basis. Trusts, Estates, Corporations, and Partnerships should list their Georgia income and multiply it by the 6%
Georgia income tax rate. The personal exemption for each married taxpayer is $3,700 and is $2,700 for other taxpayers. The exemp-
tion for dependents is $3,000.
Information required : Nonresident partner’s or shareholder’s name, identification number, Georgia income, marital status and tax due.
OPTION 1
Pay tax on the nonresident’s income from Georgia operation. Computed from tax rate schedule.
NAME
ID#
GEORGIA INCOME
MARITAL STATUS
TAX DUE
JOHN DOE
040-16-7856
15,000
Single
710.00
JOHN JONES
133-72-8901
6,000
Married
150.00
ED SMITH
132-64-8765
9,000
Head/Household
290.00
ANN MOORE
259-73-4661
11,000
Married/Separate
530.00
1,680.00
OPTION 2
llows the nonresidents to deduct: (a) standard deduction and (b) personal exemption and credit for dependents. Both (a) and (b) to be
A
apportioned on the ratio of the individual partner’s or shareholder’s Georgia income to the individual partner’s or shareholder’s share
of
the total partnership or S Corporation income. Amount to which the ratio is applied under (a) shall not exceed $2,300 single/head
of
household, $3,000 married filing joint or $1,500 married filing separate.
MARITAL
NAME
ID#
G.I.P.
T.I.P.
GA%
S.D.
P.E.& D.TOTAL GA. D. N.T.I
STATUS TAX DUE
JOHN DOE
040-16-7856
15,000 40,000 37.50
2,300
2,700
5,000
1,875
13,125 S
598.00
JOHN JONES
133-72-8901
6,000 35,000 17.14
3,000
7,400 10,400
1,783
4,217 M
87.00
ED SMITH
132-64-8765
9,000 58,000 15.52
2,300
5,700
8,000
1,242
7,758 HH
228.00
ANN MOORE
259-73-4661
11,000 40,000 27.50
1,500
3,700
5,200
1,430
9,570 MS
443.00
1,356.00
OPTION 3
(Flat 6% tax on Entity’s income)
NAME
ID#
G.I.P.
TAX RATE
TAX DUE
JOHN DOE
040-16-7856
15,000
6%
900.00
JOHN JONES
133-72-8901
6,000
6%
360.00
ED SMITH
132-64-8765
9,000
6%
540.00
ANNE MOORE
259-73-4661
11,000
6%
660.00
2,460.00
SYMBOLS:
G.I.P.
NONRESIDENT’S SHARE OF PARTNERSHIP OR S CORPORATION GEORGIA INCOME
T.I.P.
NONRESIDENT’S SHARE OF TOTAL PARTNERSHIP OR S CORPORATION INCOME
GA.%
RATIO OF GEORGIA INCOME TO TOTAL PARTNERSHIP OR S CORPORATION INCOME
S.D.
STANDARD DEDUCTION
P.E.&D.
PERSONAL EXEMPTION AND DEPENDENTS
TOTAL
STANDARD DEDUCTION PLUS PERSONAL EXEMPTION AND DEPENDENTS (100%)
GA. D.
TOTAL X GA.%= DEDUCTION AND EXEMPTION APPORTIONED TO GEORGIA
N.T.I.
NET TAXABLE INCOME (G.I.P. – GA. D. = N.T.I.)
MARITAL STATUS
S-SINGLE, M-MARRIED, HH-HEAD/HOUSEHOLD, MS-MARRIED FILING SEPARATE
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