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Form IT-611 Fillable Corporation Income Tax Booklet
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)
$ (26 880) $ (39 252) $ (49 052) $ (59 504) $ 110 167 $ 116 287 $ 137 047 $ 176 299 $ 18 765 $ 225 351 $ 35 972 $ 50 663 $ 52 711 $ 86 280 (1) 90% of the excess of the tax of the applicable year determined without regard to any credits over the base year (2) The excess of the aggregate amount of the credit allowed over the sum of the amounts of credit already used in *For a business enterprise that creates a new year one under DCA regulations for any taxable year beginning on or after 1 Base year port traffic means the amount of imports and exports during the second preceding 12 month period For 1 Consists of a distribution facility of greater than 650 000 square feet in operation in this state prior to December 31 2008; 1 NOL Carry forward Available to Current Year (Enter on Schedule 1 Line 6 or Schedule 7 Line 8) 360 678 1 The definition of a business enterprise now also includes a business or headquarters of a business that provides services 102 Employer s Credit for Approved Employee Retraining The retraining tax credit allows employers to claim certain costs of 103 Employer s Jobs Tax Credit This credit provides for a statewide job tax credit for any business or headquarters of any such 104 Employer s Credit for Purchasing Child Care Property Employers who purchase qualified child care property will re 105 Employer s Credit for Providing or Sponsoring Child Care for Employees Employers who provide or sponsor child 106 Manufacturer s Investment Tax Credit Based on the same Tier Ranking as the Job Tax Credit program It allows a tax 107 Optional Investment Tax Credit Taxpayers qualifying for the investment tax credit may choose an optional investment 118 New Facilities Jobs Credit For business enterprises who first qualified in a taxable year beginning before January 121 Historic Rehabilitation Credit A credit will be available for the certified rehabilitation of a certified structure or historic 125 Qualified Education Expense Credit This provides a tax credit for qualified educational expenses The credit is allowed 126 Seed Capital Fund Credit This provides tax credits for certain qualified investments made on or after July 1 2008 127 Clean Energy Property Credit This provides a tax credit for the construction purchase or lease of clean energy pro 128 Wood Residuals Credit This provides a tax credit for transporting or diverting wood residuals to a renewable biomass 129 Qualified Health Insurance Expense Credit Effective for taxable years beginning on or after January 1 2009 an em 130 form IT WH at least 30 days prior to filing the return on which the applicable jobs are claimed or 30 days prior to the due date 130 Quality Jobs Credit For tax years beginning on or after January 1 2009 a taxpayer creating at least 50 new quality 131 Alternate Port Activity Tax Credit O C G A 48 7 40 15A provides an alternate port tax credit The definitions of base 132 Qualified Investor Tax Credit This provides a 35% credit for amounts invested in a registered qualified business The ag 133 Film Tax Credit for A Qualified Interactive Entertainment Production Company For taxable years beginning during 2013 134 Alternative Fuel Heavy Duty Vehicle and Alternative Fuel Medium Duty Vehicle Tax Credits For fiscal years 2016 and 15 year straight line cost recovery period for certain improvements 2 Current Year Income / (Loss) 2 Distributes product to retail stores owned by the same legal entity or its subsidiaries as such distribution facility; and 2 Port traffic means the amount of imports and exports 2 The credit may be claimed beginning with the year the job is created as opposed to the year after the job is created 3 Has a minimum of 8 retail stores in this state in the first year of operations 3 NOL Carry forward Available to Next Year (Subtract Line 2 from Line 1) 3 The credit may be claimed against withholding tax for a business enterprise engaged in a competitive project (as certified by 4 The additional $500 00 tax credit for an existing business enterprise is allowed to be claimed in the year the job is 48 7 40 19 4th MONTH 6th MONTH 9th MONTH 12th MONTH 5 The additional new full time jobs created in the 4 years after the initial year shall be eligible for the credit 5 year carryback of certain disaster losses I R C Sections 172(b) 5 year carryback of NOLs attributable to Gulf Opportunity Zone 5 year carryback of NOLs incurred in the Kansas disaster 5 year depreciation life for most new farming machinery and equipment 50% bonus depreciation for most tangible property and computer 50% bonus depreciation for qualified reuse 50% bonus depreciation in connection with disasters 50% first year depreciation for post 8/28/2006 Gulf Opportunity 6 The credit must be claimed within 1 year instead of the normal 3 year statute of limitation period A corporation which is a party to state contracts may subtract A valid email address Accuracy Security Paperless More Features Additional itemized deduction for the sales tax on the purchase Adjustments to Federal Income 6 After the last day of the eighth month and before the first 100% After the last day of the fifth month and before the first day 50% 50% After the last day of the third month and before the first day 33 1/3% 33 1/3% 33 1/3% Allocation and Apportionment of Income 7 Amended due to IRS Audit box on page 1 of Form 600 Amount of your last statement AND CREATE ASSESSMENTS and/or credited to estimated tax (on Schedule 3 Line 11)? Any numbers or letters are crossed out or whited out Before the first day of the fourth month of the taxable year 25% 25% 25% 25% carefully to ensure you list the correct code number For more details about credits and the latest forms visit our website at: Changes the definition of certified structure to Changes the definition of qualified rehabilitation Computation of Income Tax 6 Consolidated Returns 5 Credits similar to the credits available in Tier 1 counties are potentially available to companies in certain less developed day of the twelfth month of the taxable year Deferral of debt income from reacquisitions of business debt at a Defines basic skills education test as the test Delinquent filing of a return 5% of the tax not paid by the original Department of Revenue Designated Area Minimum Investment Tax Credit Double Check List and Common Errors 20 Electronic Filing Front Cover 5 Electronic Payment 12 Eliminates the carry forward provision Estimated Income Tax 12 Extension Information 13 Failure to pay tax shown on a return by the due date 1/2 of Filing Requirements 5 For more information refer to O C G A 48 7 40 27 and 48 7 40 28 For projects earning more than $300 000 in credits For tax years beginning on or after January 1 2006 a For tax years beginning on or after January 1 2008 the For tax years beginning on or after January 1 2010 the following changes apply: Fraudulent underpayment 50% thereof GENERAL INFORMATION: INCOME TAX (continued) GENERAL INFORMATION: NET WORTH TAX http://dor georgia gov If you file electronically mail your payment with the PV CORP to the address indicated on Increased ($8 000) first year depreciation limit Increases the credit amount from $300 000 INDEX PAGE Legislation 2 3 Loss Year Loss Amount Income Year NOL Utilized Balance Remaining NOL Make payments for returns and assessments Makes the following changes with respect to a Modified rules for high yield original issue discount obligations Modified rules relating to the 15 year straight line cost recovery for more information refer to O C G A 48 7 29 14 Negligent underpayment of tax 5% thereof Net Worth Tax Instructions 8 9 New Information 1 New York Liberty Zone Benefits I R C Section 1400L NOTE: Please do not mail your return and payment separately! If you file a paper return NOTE: The credit type code numbers referenced above are subject to change from year to year Please review the codes notices; of the ninth month of the taxable year OF THE OF THE OF THE OF THE of the sixth month of the taxable year Penalties and Interest 6 8 Provides a tax credit for an employer who provides Provides reporting requirements for the earner Provides that a taxpayer must apply for preap Provides that after completion of the program and Provides that an employer must apply for preap Provides that in no event shall more than one Provides that the Department shall provide a Provides that the sale of a credit does Provides that the tax credit amount is $400 00 for Provides that this tax credit (Code Section) shall refer to O C G A 48 7 40 17 Register a new business and receive an account number in 15 Register and add access to accounts Request: Special rules relating to a financial institution being able to use Special rules relating to Gulf Opportunity Zone public utility casualty Specifies that a credit earned or purchased Specifies that tax credits earned by a taxpayer Submit and/or amend returns tax credit and the wood residuals tax credit is $2 5 million for calendar years 2008 2009 2010 2011; and $5 million for Tax Credits 14 19 Tax Exempt Organizations 10 Tax type account number TAXABLE TAXABLE TAXABLE TAXABLE taxpayer may claim the credit in years one through five for new quality jobs created in year one and may continue to claim Taxpayers must apply (use Form OIT APP) and receive approval before they claim the credit on their returns The credit Telephone Assistance 13 Temporary tax relief provisions relating to the Midwestern The business enterprise shall not be authorized to claim both this credit and the port credit provided in O C G A 48 7 40 15 The credit must be claimed on Form IT OIT For more information refer to O C G A 48 7 40 7 40 8 and 40 9 the credit on the appropriate tax return A taxpayer may not claim the job tax credit or the optional investment tax credit when The deposit is to a savings account that does not allow you The election to deduct public utility property losses attributable The election to increase the normal two year net The exclusion of $2 400 of unemployment income for 2009 I R C The routing number on a deposit slip is different from the The transition rule that would allow a taxpayer to revoke a This credit should be claimed on Form IT IC and accompanied by the approved Form IT APP For more information Tier 1 1 through 71 5 or more $3 500 Tier 1 5% 8% Tier 2 3% 5% Tier 2 72 through 106 10 or more $2 500 Tier 3 107 through 141 15 or more $1 250 Tier 4 142 through 159 25 or more $750 Tier Designation County Rankings New Jobs Created Credit Amount Tier Location Tax Credit Credit for Recycling Pollution Control or Defense Conversion Activities Two Dimensional Barcode Returns 13 Underpayment of estimated tax see page 13 View account balances When and Where to File 5 without attaching a schedule of detailed information YEAR YEAR YEAR YEAR You request a deposit of your refund to an account that is Your checks state they are payable through a financial institution Your financial institution will not allow a joint refund to be ZIP Code for your location address $ 116 287 $ 18 765 $ 35 972 $ 52 711 $ 86 280 $10 000 must pay via electronic funds transfer A penalty of 10% will be added if the payment is not submitted $10 million for an individual certified structure $100 00 x 3/12 = $25 00 net worth tax due ($25 000 00) (1) Interest received on bonds held for investment and income (1)(J) and 172(j) (100% ratio) and should not use the ratio computation (2) Gains from the sale of tangible or intangible property not (3) When net income of the above classes have been (6) Please note: Georgia also does not allow the increased (a) Gross Receipts Factor The gross receipts factor is the (Attach Form IT 552 and Form 600 Schedule 11 ) (b) Apportionment of Income: Business Joint Venture and (both numbers and letters) Include hyphens but omit spaces (COAM) Motor Fuel and Sales Tax Contractor Licensing Bonding (Federal Taxable Income for non individuals) that 1 1998 The tax credit in addition to the tax credit under O C G A 48 7 40 shall be limited to an amount not greater than 1 2009 $450 million in qualified investment property must be purchased for the project within a six year period The 1 877 423 6711 1 Incorrect addresses and Federal ID Numbers 1 Line 6 of Schedule 7 line 8 1 When property is sold for which the bonus depreciation was claimed 1% of the tax due for each month or fractional part thereof up to 100 000 101 Employer s Credit for Basic Skills Education Businesses which provide or sponsor basic skills education that enhances 108 Qualified Transportation Credit This is a credit of $25 per employee for any qualified transportation fringe benefit 109 Low Income Housing Credit This is a credit against Georgia income taxes for taxpayers owning developments receiv 110 Diesel Particulate Emission Reduction Technology Equipment This is a credit given to any person who installs diesel 111 Business Enterprise Vehicle Credit This credit is for a business enterprise for the purchase of a motor vehicle used 112 Research Tax Credit A tax credit is allowed for research expenses for research conducted within Georgia for any 113 Headquarters Tax Credit Companies establishing their headquarters or relocating their headquarters to Georgia prior 114 Port Activity Tax Credit (Use 114J for Port Activity Job Tax Credit and 114M for Port Activity Investment Tax 115 Bank Tax Credit All financial institutions that conduct business or own property in Georgia are required to file a 116 Low Emission Vehicle Credit This is a credit the lesser of 10% of the cost of the vehicle or $2 500 for the purchase 117 Zero Emission Vehicle Credit This is a credit the lesser of 20% of the cost of the vehicle or $5 000 for the purchase or 119 Electric Vehicle Charger Credit This is a credit for a business enterprise for the purchase of an electric vehicle charger 12% per annum is due on delinquent payments from the due 12/31/1996 12/31/1997 12/31/1998 12/31/2000 120 New Manufacturing Facilities Property Credit This is an incentive for a manufacturer who has operated a manufactur 122 Film Tax Credit (use code 133 if the credit is for a Qualified Interactive Entertainment Production Company) Pro 124 Land Conservation Credit This provides for an income tax credit for the qualified donation of real property that qualifies 15th if filing on a calendar year basis If the due date falls 168(b)(3)(I) 168(k)(2)(A)(i) (the definition of qualified property) I R C Section 168(k)(2)(D)(i) (exceptions to the definition of qualified property) 1800 CENTURY BLVD NE 8TH FLOOR 1986 Recovery Zone Economic Development Bonds under 2 Failure to indicate the applicable tax year end 2 Line 6) 2 The depreciation adjustment may be different if the taxpayer 20 percent of the base investment in the state with an additional 10 percent for including a qualified Georgia promotion 2005 Georgia law was changed to specifically provide 2008 and 2009 I R C Sections 172(b)(1)(H) and 810(b)(4) 2009; the definition of business enterprise is any enterprise or organization which is registered and authorized to use the 2013 2014 and 2015 the credits are allowed on a first come first served basis based on the date the film tax credits are 2014 2015 2016 2017 and 2018 The taxpayer must get approval as provided in O C G A 48 7 40 30 before claiming 2015 Legislation 2015 Legislation (continued) 2016 the aggregate amount of conservation tax 2017 (fiscal years ending June 30 2016 and June 30 2017 respectively) this provides an income tax credit for a taxpayer 25% Failure to pay tax penalty is not due if the return is being 25% of the tax not paid by the original due date 260 678 3 Incomplete Georgia return referencing schedules that were not submitted with the return 3 Other Federal items that are computed based on Federal 30348 5136 Check or money order for payment of tax should be made payable to Georgia Department of Revenue 31 2021 (specifies that if these changes are repealed 4 500 jobs For tax years beginning on or after January 1 2012 the job creation requirement is extended if certain 4 Incorrectly consolidating net worth tax for parent and subsidiary corporations 40 16 The low emission vehicle tax credit was repealed and cannot be claimed for vehicles purchased or leased on or 40 17 40 26 40 hours of training while the employee is being 45 days of receipt Preapproval will be based on 47(c)(2) of the Internal Revenue Code of 1986 48 7 29 12) This bill repeals Code Section 48 5 Claiming prepayments remitted under another name Federal ID Number or taxable period 50 percent of the taxpayer s state income tax liability which is attributable to income derived from operations in this state for 50% of a taxpayer s state income tax liability for a taxable year In Tier 1 counties and less developed census tracts only 50% of the taxpayer s total state income tax liability for the taxable year Any credit claimed but not used in any taxable 5500 should be mailed to Georgia Department of Revenue 560 7 3 10 6 for more information Late payment penalty is not due if 6 S Corporations filing on Form 600 The correct form is Form 600S unless the nonresident 600 Schedule 3 Line 2 An extension of time does not alter interest or penalty charges for late payment of tax 600S CA is required to be filed were changed for tax 611S Booklet for more information 7 40 10 qualified water conservation investment 7 Improper enclosure of Form IT 552 Application for Tentative Carry back Adjustment Form 9% penalty on Form 600 UET and check the UET Annualization Exception attached box if an exception applies a business enterprise; (2) the business enterprise must meet the job creation requirement and either the qualified invest a certification from the Department of Natural Resources before requesting preapproval For more information refer to a company or a subsidiary of the company The credit is available for establishing new full time jobs To qualify each job A corporation electing to file under the Internal Revenue Code A corporation may subtract federally taxable interest received A corporation must add back all captive REIT expenses directly A corporation must add back all intangible expense and A corporation will be considered to own property in Georgia A Depreciation must be computed one way for Federal purposes A dormant corporation must file a net worth tax return and pay A fast simple safe secure way to have your refund deposited a first come first served basis The aggregate amount of the tax credit allowed to all taxpayers cannot exceed $2 5 million a Georgia income tax return (Please round all dollar entries ) A net operating loss sustained for the current taxable A new domestic or foreign corporation doing business or A nonresident who receives deferred compensation or income a return and failure to pay tax shown on a return cannot exceed a substitute for the form IT 560C Failure to properly complete and mail the PV CORP could result in delayed or A taxpayer having an extension must prepay the Georgia tax A taxpayer must addback payments of more than $600 in a taxable a two dimensional (2D) barcode A list of these companies is available on our website at http://dor georgia gov A zero emission vehicle is a motor vehicle which has zero tailpipe and evaporative emissions as defined under rules and able A low emission vehicle is defined as an alternative fuel vehicle and does not include any gasoline powered vehi accordance with rules and regulations promulgated account The account number can be up to 17 characters act it is not necessary to make a separate adjustment for each act): activities (IRC Section 199) This adjustment should be activities or transactions for the purpose of financial profit acts) should be reported separately to the shareholders or partners addition to federal income even if the taxpayer qualifies for additional $500 per job is allowed for a business locating within a county that belongs to a Joint Development Authority per ADDITIONAL INFORMATION additional research expense over the base amount provided that the business enterprise for the same taxable year Additionally adjustments due to other Federal tax changes Additionally the provisions listed above may have an indirect additions to Federal income should be indicated on Schedule 1 address on Page 3 of Form 600 Adjusted Gross Income or Federal Taxable Income will have to adjustments adjustments as provided by Georgia law The accounting period Adjustments for the items listed below should be added ADJUSTMENTS TO FEDERAL INCOME Administrative Services maintains a list of certified minority Adult Education The Office of Adult Education Affiliated corporations that file a consolidated Federal after incorporation or qualification The initial net worth after January 1 2014 (thus it also includes the 2015 after July 1 2015 after receiving preapproval from the Department age number of full time employees at the certified agencies that are eligible to offset an individual agreement among the partners members or Agreement Individual Income Tax Fiduciary 911 Prepaid Wireless Fee Alcohol and Tobacco Amusement All corporate income tax must be paid directly to the Georgia Department of Revenue The estimated tax shall All corporations except consolidated subsidiaries should list All corporations filing a short period income and/or net worth All corporations that own property or do business in Georgia All Georgia corporations and foreign corporations that qualify ALLOCATION AND APPORTIONMENT OF INCOME allocation For more information refer to O C G A 48 7 29 6 Also interest will be assessed at the rate of 12% per annum from the statutory due date until the tax is paid in amended due to an IRS audit AMENDED RETURNS amount of such credit exceeds the taxpayer s tax liability in a taxable year the excess may be taken as a credit against amount of tax credits exceed $25 million per calendar amounts are as follows for all Tiers: An additional job tax credit of $1 250 per job; investment tax credit of 5%; or optional amounts of qualified investment property are purchased After an affirmative review of their application by a panel the an exception If the taxpayer qualifies for a full or partial An organization that had tax exempt status with the Internal and 100% bonus depreciation rules) except for I R C Section and a check will be sent: and Adult Education at 404 253 2800 or visit their website This credit should be claimed on Form IT RC with Program Com and another way for Georgia purposes To compute and attach the 600 UET to the return Enter penalty from 600 UET on schedule 3 line 8 of Form 600 and certain authorities or agencies of the State of Georgia for and claimed in accordance with provisions of any and everywhere This includes all intangible assets reflected and I R C Section 168(k)(2)(E) (special rules for qualified and is applicable to certified rehabilitations and method for the Georgia return must be the same as the and previously claimed but not used by such tax and recycling property I R C Section 168(m) and rentals from such investments are likewise not subject and special symbols Enter the number from left to right and and suggestions on how to better accomplish that mission and the denominator of which is the average adjusted basis and the regulation or the Department of Natural Resources website and the Section 179 deduction Accordingly the gain should not be and the taxpayer must add back to Georgia taxable income the amount of any federal charitable contribution related to the and whether sufficient funds are available and who are not excepted by O C G A section 48 7 21 1 An and you owe tax mail your return and payment along with the payment voucher to the ANNUAL REGISTRATION WITH annual total production expenditures in this state exceeded $30 million for 2002 2003 and 2004 This credit may be annually per new full time job meeting the wage requirement or $5 000 if the average wage of all new qualifying fulltime any amount to the Georgia Student Finance Commission application for any individual certified structure applies for and receives an automatic six (6) month extension to file their Federal income tax return If the return apply to the Department for a tax exempt determination letter appropriate box for the type of account Do not check more are available on our website at http://dor georgia gov are created; and 2) within one year of the first hire $1 million is spent in construction renovation leasing or other cost are not subject to apportionment Rentals received from are required to be included in the nonresident s income See are subject to offset of their state tax refund in are submitted are taxed based upon the portion of net worth employed area after May 3 2007 I R C Section 1400N(k) as conservation land Property donated to increase building density levels or property that will be used or is associated as discussed below Georgia has adopted the provisions of all as follows: As of October 2010 you may pay corporate income and estimated taxes using Georgia Tax Center (GTC) This as the angel investor tax credit) to qualified as the base assessed until the tax is paid (income tax at 1/2 of 1% per month up to 25% of the tax due; net worth tax at 10%) assessment of applicable penalties! If you do not need a Federal extension use Form IT 303 to request a Georgia ates which are qualified interactive entertainment production companies shall not exceed $25 million Such cap for taxable Atlanta GA 30345 3205 (Will no longer be required for ATLANTA GEORGIA 30345 3205 Attach a statement to the return explaining these differences attributable to domestic production activities (I R C attributable to operations within Georgia This deduction shall attributable to this State s marketplace audit adjustments must be attached Mail the amended authorized employee is someone legally allowed to work in the automatically to your checking or savings account Check the automobile is qualified property I R C Section 168(k) available for investments made in 2011 2012 2013 2014 2015 2016 2017 and 2018 The credit is claimed 2 years later available This credit should be claimed on Form IT RHC The credit changes significantly for certified structures (other available to businesses of any nature including retail businesses in counties recognized and designated as the 40 least dev available to employees filling the new full time jobs Employers are not however required to pay all or part of the cost of such average; or B Depreciation must also be computed for Georgia purposes Based on net worth including issued capital stock paid in surplus and earned surplus (Schedule 2 Line 4) Based on net worth including issued capital stock paid in surplus and earned surplus employed within Georgia (Schedule basic skills education tax credit and is applicable be approved in any 120 month period be entered on Schedule 7 Line 8 be filed electronically pursuant to the Internal Revenue be listed as an addition to federal income even if the taxpayer be listed in Schedule 5 as a subtraction from Federal taxable be paid on or before the fifteenth day of the: be paid on the specified dates so as to effect payment in full of the estimated tax by the 15th day of the twelfth be recomputed if the provisions of the Federal Acts are claimed be repealed on January 1 2020 because the due dates do not coincide been derived from business done in this State if received from before January 1 2012 the job has no predetermined end date The credit amount varies depending upon the pay of the before the Department of Economic Development issues its approval to the qualified interactive entertainment production Beginning with the 2005 tax year consolidated groups that being claimed and notify the production company of the approved credit and when and how it may be claimed The pro bill is applicable to taxable years beginning on or bond treated as a Qualified Bond under Section 6431 (f) of Bonds for this purpose Bonds under Section 54AA of the Internal Revenue Code of both activities in their receipts factor Both taxes must be paid annually Schedule 3 of the return business done in this State if received from products shipped business engaged in manufacturing warehousing and distribution processing telecommunications broadcasting tourism or business enterprise is rewarded with the new job tax credit The credit is $5 250 per job created The credit offsets income business in Georgia or has income from Georgia sources business in this State if engaged within this State in any business in this State or derives income from sources in this business in this State; whether or not it maintains an office business income shall be apportioned as follows: business or headquarters of any such business engaged in manufacturing warehousing and distribution processing business other than the manufacture production or sale of business partnership must include its pro rata share of the Business Partnerships A corporation or partnership that is by any state except the State of Georgia or by any territory by or assigned to a partnership limited liability by the Commission by the Commission including repayments and refunds CA on behalf of each nonresident Failure to furnish a properly calculate Georgia taxable income Lines 2 and 4 of Schedule 1 calendar years 2008 2009 2010 2011 and $5 million for calendar years 2012 2013 and 2014 A person receiving a calendar years 2012 2013 and 2014 Taxpayers must request preapproval to claim this credit on Form IT WR AP For cannot be combined with the initial income tax return capital stock paid in surplus and retained earnings Treasury care for employees are eligible for a tax credit of up to 75% of the employers direct costs The credit may not exceed care within 14 years after the property is placed in service This credit should be claimed on Form IT CCC100 For more carried back two years (with special rules for farmers carried forward for 10 years For a copy of the Retraining Tax Credit Procedures Guide contact the Department of Technical carried forward for ten succeeding years The Department of Natural Resources will certify that such donated property is cation test or $1 200 00 for each employee who cause processing delays ceive a credit totaling 100% of the cost of such property The credit is claimed at the rate of 10% a year for 10 years Any census tracts in the metropolitan areas of the state Note that average wages for the new jobs must be above the average centage increase in port traffic will be calculated using 75 net tons five containers or 10 TEU s as the base Companies Center P O Box 740397 Atlanta Georgia 30374 0397 certification the State Property Commission s determination and the appraisal must be attached to the income tax return; certified structure (other than a historic home): changes) The taxable income shown on the Federal return is charter does not constitute an exemption from income tax choose either the regular or optional investment tax credit Once this electionl is made it is irrevocable The optional claimed against 100 percent of the production company s income tax liability while any excess may be used to offset the claimed For taxable years beginning in 2016 through 2018 the qualified interactive entertainment production company must claimed Georgia follows the separate reporting treatment of the gain claimed if the low and zero emission vehicle credit was claimed at the time the vehicle was purchased For more infor claimed on Form 600 Schedule 3 Line 2 If tax is not paid by claimed on Form IT BE For more information refer to O C G A 48 7 41 The credit changes significantly for tax years be claimed on Form IT HC and accompanied with Federal Form K 1 from the providing entity and a schedule of the building claimed This credit should be applied for and claimed on Form IT HQ For more information refer to O C G A 48 7 claiming this credit for the same project Companies must invest a minimum of $50 000 per project/location during the tax claims and is allowed a research credit under Section 41 of the Internal Revenue Code of 1986 For tax years begin CLAIMS FOR REFUNDS claims the credit must be subject to Georgia tax cles (i e hybrids) A low speed vehicle does not qualify for this credit For more information refer to O C G A 48 7 Code of 1986 or Internal Revenue Service regulations Code Section 48 7 29 8 historic rehabilitation Code Section 48 7 40 11 tax credit for shift from collected in the prior calendar year and the aver Column A: List the loss year(s) Column B: List the loss amount for the tax year listed in Column A Column E: List the balance of the NOL after each year has been applied Column F: List the remaining NOL applicable to each loss year column of the following table then the estimated tax shall be due as shown in the remaining columns Columns C & D: List the years in which the losses were utilized and the amount utilized each year Commissioner COMMON ERRORS THAT DELAY REFUNDS commonly used items are listed in each of these schedules company for the qualified production activities related to interactive entertainment the qualified interactive entertainment pro company Subchapter S corporation or other company whose net income is derived from business other company whose net income is derived from the manufacture compensated at their normal rate of pay and complete statement detailing the sources for such deduction completed on or after January 1 2017 The bill completed) For applications on projects over Composite Returns 1 877 423 6711 computation of Federal Adjusted Gross Income COMPUTATION OF INCOME TAX COMPUTATION OF TAX computed in Schedule 8 To compute the ratio the property concerning proper return preparation and mailing conduct 100% of their business in Georgia must request CONSOLIDATED RETURNS CORPORATE PARTNERS OF PARTNERSHIPS Corporation and Net Worth Tax Return Information 1 877 423 6711 CORPORATION ESTIMATED INCOME TAX INSTRUCTIONS Corporation Income Tax corporation or association created or organized under the Corporation Refund Inquiry 1 877 423 6711 Corporation Return Processing Forms Estimates and Prepayment of Tax 1 877 423 6711 corporation s taxable period corporation to file Form 600 and pay the regular corporate tax corporations are taxed based upon total net worth Corporations doing business both within and outside Georgia corporations If you need forms we encourage you corporations in filing their Georgia corporate tax returns corporations One is an income tax at a rate of 6% on taxable corporations partnerships LLCs and nonresident withholding CORPORATIONS THAT MUST FILE ESTIMATED TAX corporations this is the beginning net worth Thereafter county school district municipality or other tax subdivision Create photocopies as needed created as opposed to the year after the job is created created jobs through year seven and claim the credit on each of those jobs for five years The credit is equal to $2 500 CREDIT CARD PAYMENTS credit Certification must be approved through the Georgia Department of Economic Development The credit is equal to credit shall be $0 00 for any vehicle purchased credit This credit should be claimed on Form IT CONSV The taxpayer beginning January 1 2012 has the option of sell Credit) For taxable years beginning before January 1 2010 businesses or the headquarters of any such businesses credits and investment tax credits The credit is claimed by filing the appropriate form for the applicable credit (job tax: credits may also be taken against a company s income tax withholding To claim the credit against withholding a business credits shall not exceed $30 million per calendar current taxable year; or 2) $5 000 However the income is not current year IRS Form 4562 and attach it to the Georgia return customer service and operational performance of any state customers within this State or if the receipts are otherwise date the project is eligible for credits up to date until paid in full day that is not a weekend or a holiday Returns should be debts owed to the Georgia Lottery Corporation deductible health plan as defined by Section 223 of the Internal Revenue Code The qualified health insurance must be deduction by allocating to Georgia only the amount of the loss deduction directly but instead passes through the information deduction for income attributable to domestic production activities) deduction taken on a federal return for which a credit is allowed Taxpayers must request preapproval to claim this credit DEFERRED COMPENSATION deferred compensation plans if the income is paid out over the delinquent payment is 10% of tax due In addition interest at Department of Corrections and State Board of Par DEPARTMENT OF REVENUE deposited to an individual account The State of Georgia is depository financial institution with a Sub S election can pass through the credit to its shareholders on a pro rata basis Depreciation Differences Depreciation differences due to the depreciation for Federal purposes taxpayers should use the different from the one at which you have your checking DIRECT DEPOSIT Fast Refunds! Choose Direct Deposit direct deposit is accepted DIRECT DEPOSIT OPTION disaster area I R C Sections 1400N(f) and 1400N(k) discount in 2009 and 2010 which is federally deferred for up to five district individually listed on the National Register do business in Georgia or have income from Georgia sources DOMESTIC AND DOMESTICATED FOREIGN CORPORATIONS Domestic corporations and domesticated foreign dons and Paroles to the Department of Community dor ga gov dor georgia gov for more information including instructions DOUBLE CHECK duction companies which have at least $500 000 of qualified expenditures in a state certified production may claim this duction company also has the option of selling the tax credit to a Georgia taxpayer A credit claimed but not used in any duction company must certify to the Department of Revenue that it maintains a business location physically located in Geor due and date of the return if earlier Once the income tax return is filed the Department has 120 days to review the withhold due date for each month or fractional part thereof up to 25% due date of the return (including extensions) Failure due date until the date the liability is paid in full An extension of E X A M P L E each employee who passes the basic skills edu Each exempt organization must file a copy of the forms they early January effect on the calculation of Georgia taxable income electricity provided the electricity is not generated by an on board combustion device A low speed vehicle does not ELECTRONIC FILING Electronic Funds Transfer 1 877 423 6711 ELECTRONIC PAYMENT electronically mail Form PV CORP with the payment to the address on the form Do not use Form PV CORP as electronically request preapproval to claim this credit through the Department s Georgia Tax Center Taxpayers must have electronically through GTC eloped counties employee who has successfully completed more than one approved retraining program The credit may be utilized up to 50% Employee Withholding Information 1 877 423 6711 employer s income tax liability The qualified health insurance premium expense must equal at least $250 annually energy property If a taxpayer is denied the Clean Energy Property Tax Credit because the credit cap has been reached engaged in manufacturing warehousing and distribution processing telecommunications broadcasting tourism or re enrolled for twelve consecutive months in a qualified health insurance plan Qualified health insurance means a high entered on the addition line of the applicable return An adjustment entertainment production companies through tax er is a credit against taxes equal to 6 percent of the cost of all qualified investment property purchased or acquired The er made directly or by a pass through entity and allocated to such individual shall not exceed $50 000 00 The credit is er operating systems except a retraining tax credit shall be allowable for those providing support or training on such software etc ) annually The due date for filing copies of the Federal etc) Also for tax years beginning on or after January 1 Every domestic or foreign corporation subject to taxation in Georgia shall pay estimated tax for the taxable year example if the taxpayer is trying to claim the credit for 2010 they would compare 2009 to 2008 and if the increase is EXAMPLE: Corporation A files a three month short period exception Form IT Addback must be completed in order Exceptions excess amount be assigned sold or transferred to any other taxpayer For taxable years beginning in 2014 through 2018 Excess research tax credit earned in taxable years beginning on or after January 1 2012 may be used to offset with exclusively to provide transportation for employees In order to qualify a business enterprise must certify that each ve executed Form 600S CA for each nonresident stockholder exempt status for the corporation along with the letter existed on January 1 2015 and as adopted by the income expenditure to state that it means any qualified expense is multiplied by a fraction the numerator of which is Express MasterCard and Discover credit cards for payment extension if necessary EXTENSION INFORMATION FOR CORPORATIONS extension request form with your return? Did you check the extension box on Form 600? factors will reflect total balance sheet assets within Georgia Failure to attach a copy of the Federal extension will result in the return being considered filed late and the Failure to comply with the provisions of the law may result in a penalty of 5% of the income tax for failure to federal acts (as they relate to the computation of Federal Adjusted Federal acts mentioned above should be treated as follows (If the Federal deduction for income attributable to domestic production Federal Employer Identification Number and the taxable year For more information contact the Department at federal employment verification system known as E Verify or any successor federal employment verification system and Federal return even if it is not required for Federal purposes Federal return The Federal principles pertaining to execution of FEDERAL SCHEDULE L REQUIREMENT FEDERAL TAX CHANGES Federal taxable income is used as the basis of computation to federally declared after 2007 I R C Section 168(n) fied interactive entertainment production company claims the film tax credit The amount in excess of this limit is not eligible fifteenth day of the third month following the beginning of the file all associated returns electronically Also a non individual File Form 600 and pay the tax electronically Visit our website http://dor georgia gov for more information file with the Internal Revenue Service (Forms 990 990 EZ filed with the production company s income tax return to claim the credit For more information refer to O C G A 48 7 filing of separate returns for the applicable tax year FILING REQUIREMENTS Finally it provides that beginning on January 1 following apply your direct deposit request will be rejected following the close of the taxable year This would be March foot equivalent units (TEU s) during the previous 12 month period are qualified for increased job tax credits or invest For 2015 the I R C Section 179 deduction is currently limited For a complete list of features visit GTC and click on the What can I do inside GTC button https://gtc for any taxable year beginning on or after January 1 2009 the following apply: for carry forward to the succeeding years tax liability nor shall such excess amount be eligible for use against the qualified For donations in taxable years beginning on or after January 1 2013 to claim the credit Form IT CONSV the DNR for each new full time job provided all conditions are met For taxpayers that create a new year one under DCA regulations for each taxpayer claiming the credit for a certified for Georgia purposes and attach it to the Georgia return for income tax purposes a separate net worth tax return For more information refer to O C G A 48 7 29 7 For net worth tax purposes a domestic corporation is a For net worth tax purposes a foreign corporation is a for passenger automobiles if the passenger for refund of tax paid must be made within three years from the For tax years beginning on or after 1/1/2008 Form 3605 is For tax years beginning on or after January 1 2003 a claim for taxable years beginning on or after January 1 2015 except for the elderly and persons with disabilities (only for the jobs credit provided pursuant to O C G A 48 7 40) for the taxable year to be eligible for the credit See the Job Tax Credit law (O C G A 48 7 40 and 48 7 40 1) and regula for the taxpayer to take a subtraction on Schedule 5 for all foreign commerce If the business income of the corporation FOREIGN CORPORATIONS Foreign corporations (those formed in a state other than Foreign corporations qualified to conduct business in Georgia foreign or domestic that owns property in this state does Form 1099) is allowed a tax credit for qualified health insurance expenses in the amount of $250 00 for each employee Form 600 A copy of the Federal Form 1120X or Federal Form 600 T should be mailed to the address on the form Form 602ES should be mailed to State of Georgia Department of Revenue P O Box 105136 Atlanta Georgia Form IT CA; investment tax: Form IT IC or optional: Form IT OIT) with the tax return and providing a statement with Form IT CONSOL should be mailed to: Georgia Department Form IT FC along with certification from the Film Office of the Georgia Department of Economic Development must be forward Available to Next Year in the last space forward to the last day of that month FREQUENTLY ASKED QUESTIONS Frequently asked questions regarding corporations S from activities which constitute the company s regular trade from Federal taxable income 10% of qualified payments from Georgia A corporation with a deficit net worth pays from property held in Georgia or as a result of business done FROM THE COMMISSIONER from the date of incorporation/qualification to the end of from the exercise of stock options that were earned in Georgia full Late payment penalties and interest accrue from the statutory due date regardless of an extension Georgia Furthermore in 2003 the IRS started requiring separate reporting to GA 30345 Please note: Tax returns should not be sent GA 30359 1432 Futher if the changes result in a refund the gain along with any Georgia adjustment to the gain (due to the Federal gain from asset sales for which an I R C Section 179 deduction was gardless of which taxpayer the individual performed services for; 4) which pays at or above 110 percent of the average general in a partnership which owns property or does GENERAL INFORMATION: INCOME TAX GENERAL INFORMATION: INCOME TAX (continued) GENERAL INFORMATION: NET WORTH TAX (continued) General Instructions Georgia apportionment ratio shall be computed by applying Georgia Code Section 48 7 57 provides that a taxpayer need not apply for a Georgia extension if the taxpayer Georgia conservation credit For donations made on or after January 1 2016 the aggregate amount of tax credits shall Georgia counties are re ranked annually based on updated statistics This credit should be claimed on Form IT CA An Georgia does not allow the Federal deduction for income Georgia Financial Institutions Business Occupation Tax Return Form 900 Effective on or after January 1 2001 a Georgia has also not adopted the following: Georgia has no separate form for filing an amended return Georgia has not adopted I R C Section 168(k) (the 30% 50% Georgia income tax is 6% of the Georgia taxable income shown Georgia must file a net worth tax return until it has withdrawn Georgia net worth tax is computed as follows: Tax per scale GEORGIA NOL CARRY FORWARD WORKSHEET EXAMPLE Georgia Tax Center Georgia tax on interest Georgia tax return for any reason other than filing an initial Georgia taxable net income for all years ) The credit may not exceed 50% of the business Georgia net income tax Georgia Taxes Deductible There shall be added to taxable Georgia unless they have prior approval or have been Georgia W 2 reported payroll within the six year period The business enterprise can receive credit up to a maximum of Georgia) should determine the need to obtain a Certificate gia and that it had expended a total aggregate payroll of $500 000 00 or more for employees working within Georgia during ginning on or after January 1 2016 Please see the regulation for more information Governor grant from GEFA under O C G A 50 23 21 shall not be eligible to claim this tax credit with respect to the same clean granted) gregate amount of credit allowed an individual person for one or more qualified investments in a single taxable year wheth Gross Income (AGI) for individuals or federal taxable income for ground water usage on December 31 2016 GTC Features has the ability to claim the credit in years one through five for jobs created in year one and may continue to claim newly have to be new jobs to Georgia An application is filed which a panel must approve The benefit awarded to a manufactur HB 170 (O C G A 48 7 40 16) The income tax HB 237 (O C G A 48 7 40 30) This bill extends HB 275 (O C G A 48 7 161) This bill allows HB 292 (O C G A 48 1 2) This bill adopts certain HB 308 (O C G A 48 7 29 8) This bill amends HB 310 (O C G A 48 7 161) This bill changes HB 320 (O C G A 20 3 236) The income tax HB 339 (O C G A 48 7 40 26) This bill extends HB 464 (O C G A 48 7 40 10 48 7 40 11 and HB 63 (O C G A 48 7 41) This bill amends the held owned or used in connection with the trade or business of hicle carries an average daily ridership of not less than four employees for an entire taxable year This credit cannot be holding as provided in the research tax credit regulation This credit should be claimed on Form IT RD For more home Standards set by the Department of Natural Resources must be met For taxable years beginning on or after How Do I Sign Up? To use GTC visit our website at https://gtc dor ga gov First time users must http://dor georgia gov for more information including I also recommend that you review the New Information I R C Section 168(e)(3)(B)(vii) I R C Section 168(e)(7) I R C Sections 163(e)(5)(F) and 163(i)(1) I strongly encourage you to take advantage of this feature If a federal audit results in a change in taxable income the If an extension is granted but the tax was not paid by the statutory due date late payment penalties will be If any corporation domestic or foreign does business or owns if its net income for such taxable year can reasonably be expected to exceed Twenty Five Thousand Dollars if the partnership or S Corporation is not allowed the Section 199 if the prior year s income exceeds the lesser of: 1) 5 percent If the requirements to file estimated tax under Code Section 48 7 117 are first met as shown in the left hand If you claim a net operating loss deduction you must file a If you determine that you are required to file estimated tax mail your initial payment along with Form 602ES If you owe taxes mail your return and payment with Form PV CORP to the address on the return If you file improper posting of your payment in 2013 2014 2015 2016 2017 2018 2019 and 2020 respectively The aggregate amount of tax credits allowed is $10 in a prior year is required to pay tax on the income but only in a tier two or three county established pursuant to O C G A 48 7 40 and in a less developed area established pursuant to In accordance with O C G A 48 2 32(f)(2) corporate estimate taxpayers with quarterly payments of more than in calendar years 2012 2014 must be taken in four equal installments over four years Taxpayer must request preapproval in Georgia or the intangible property was acquired as income in Georgia shall be allocated to Georgia in Georgia The net investment income from tangible property in Schedule 8 in the Kansas Disaster Area I R C Section 1400N(d)(1) in the short period return in the state certified production There are special calculation provisions for production companies whose average in this state; 2) Has a regularwork week of 30 hours or more; 3) Is not a job that is or was already located in Georgia re include that it is located within a national historic Include your Federal Employer Identification Number on your check or money order includes Federal environmental tax including pensions as well as income received from nonqualified income any taxes on or measured by net income or net income as previously defined received by every corporation income See Georgia Code Section 48 7 21 for additional Income Tax Forms 1 877 423 6711 income tax return (including extensions which have been income tax return must be electronically filed income tax return must file separate income tax returns with income The net investment income from intangible property income The second is a graduated tax based on corporate incurred This credit should be claimed on Form IT CCC75 For more information refer to O C G A 48 7 40 6 Individual Income Tax Return Information 1 877 423 6711 individual taxpayer s state income tax refund for information and news from the Department of Revenue information refer to O C G A 48 7 40 12 information refer to O C G A 48 7 40 16 information refer to O C G A 48 7 40 6 ing claimed and notify the business of the approved credit and when and how it may be claimed For more information ing credit being claimed notify the business of the approved credit and when and how it may be claimed A credit claimed but ing facility in this state for at least 3 years and who spends $800 million on a new manufacturing facility in this state ing the credit to a Georgia Taxpayer For more information refer to O C G A 48 7 29 12 and Regulation 560 7 8 50 ing the federal Low Income Housing Tax Credit that are placed in service on or after January 1 2001 Credit must be INITIAL FILING AND DUE DATES institution for the correct routing number to enter if: INSTRUCTIONS instructions concerning proper return preparation and instructions on proper return preparation and mailing insurance unless this benefit is provided to existing employees For taxpayers that initially claimed this credit for any taxable interactive entertainment production company s quarterly or monthly payment under Code Section 48 7 103 nor shall such Interest accrues at the rate of 12% per year from the original interest due any business tax credits and the credits for interest due for the respective taxes and enter the amounts interest expense To arrive at such reduction the total interest intergrated tax system gives corporate taxpayers the ability to pay the tax via a secure internet connection INTRODUCTION investment tax credit is calculated based upon a three year tax liability average The annual credits are then determined investment tax credit of 10% Companies that create 400 or more new jobs invest $20 million or more in new and ex investments made in 2016 2017 and 2018 involved in a business joint venture or that is a partner in a is a foreign corporation which has agreed under the provisions is derived in part from Georgia sources from property owned is designed to combine the liabilities any penalty and is engaged in or carrying on any business activities within this state Retail businesses are not included in the definition of is imposed only on that portion of the business income which is paid This penalty will accrue from the statutory due date is reasonably attributable to Georgia sources and property is received within the time extended by the Internal Revenue Service and Form 7004 is attached to the return is required to withhold Georgia income tax on amounts that is subject to the passive loss rules and is not able IT 552 should be attached to the front of the Loss Year return Do not attach Form IT 552 IT 611 it is the net worth on the first day of the corporation s net it requires preapproval for such companies and IT WH at least 30 days prior to filing the return on which the credit will be claimed or 30 days prior to the due date January 1 2009 a credit not to exceed $100 000 for a historic home and $300 000 for a certified structure will be January 1 2009 approved retraining shall not include any retraining on commercially mass produced software packages for January 1 2012 in tier 1 counties the business enterprise must increase employment by 2 or more new full time jobs January 1 2016 This bill: jobs is 200% or more of the average county wage where new jobs are located The credit may be used to offset 100 jobs may be entitled to a credit provided certain conditions are met A new quality job means a job that: 1) Is located joint venture s or partnership s property payroll and gross late payment of tax LATE PAYMENT PENALTY later date of either payment of the tax or the due date of the law prohibits granting an extension of more than six months from the due date of the return law prohibits state taxation of some types of retirement income lease of a new zero emission vehicle Also there is a credit for the conversion of a standard vehicle to a zero emission least 100%; Tier 2 counties at least 105%; Tier 3 counties at least 110%; and Tier 4 counties at least 115% The company leave any unused boxes blank liability after all other credits have been applied in any one year Any unused credit may be carried forward 10 years life expectancy of the person or at least 10 years An employer Line 2 and listed on Schedule 4 lion for taxable years beginning in 2013 1 5 million for taxable years beginning in 2014 through 2018 The film tax credit for liquidated and is filing its final income tax return is not required located in the State of Georgia The credit allowed is the lesser of 10% of the cost of the charger or $2 500 For more losses I R C Section 1400N(j) losses I R C Section 1400N(k) Lynnette T Riley made available to all employees and compensated individuals of the employer pursuant to the applicable provisions of mailed to Georgia Department of Revenue Processing mailing mailing addresses makes certain other changes for such companies manufacturer must also create at a minimum 1 800 new jobs within a six year period and can receive credit for up to a mation mation refer to O C G A 48 7 40 22 maximum of 3 300 jobs For business enterprises who first qualify in a taxable year beginning on or after January 1 may be carried forward and does not increase the may be claimed for 10 years provided the qualifying property remains in service throughout that period A taxpayer must ment requirement $450 million qualified investment property or the payroll requirement $150 million in total annual of ment tax credits NOTE: Base year port traffic must be at least 75 net tons five containers or 10 TEU s If not the per million for investments made in calendar years 2011 2012 and 2013; and $5 million for investments made in calendar years million per calendar year; and that no single employer million per tax year The taxpayer must add back to Georgia taxable income that part of any federal charitable contribution minutes! month of the taxable year month Periods ending on the 16th day or later are moved months the tax due is 50% The initial net worth return more than 10% over their 1997 base year port traffic or by more than 10% over 75 net tons five containers or ten 20 more than 10% they would qualify NOTE: Base year port traffic must be at least 75 net tons five containers or 10 mum credit of $250 000 per individual and 500 000 per corporation and $500 000 per partnership However the part must apply using Georgia Form 3605 A nonprofit corporate must be 01 through 12 or 21 through 32 Ask your financial must be attached to the employer s income tax must be attached to the Georgia return must be claimed within 1 year instead of the normal 3 year statute of limitation period Credits claimed but not used may be must be filed by each subsidiary Visit our website at http:// must file Form IT WH at least 30 days prior to filing the return on which the applicable jobs are claimed or 30 days prior to the must meet Business Expansion and Support Act (BEST) criteria for the county in which they are located The tax credit must pay a salary which is a stated percentage of the average county wage where the job is located: Tier 1 counties at must preapprove or deny the application within Nathan Deal needed to compute the deduction to the partners or shareholders negates Georgia s recognition of the election requiring each ners of the partnership are subject to the per individual and per corporation limits The amount of the credit used in any net income within 180 days of final determination Mail the return net overpayment of the two taxes Compute any penalty and NET TAX DUE OR OVERPAYMENT net worth Instructions for the net worth tax begins on Page 8 NET WORTH TAX RETURN NET WORTH TAX TABLE NEW ESTIMATED TAX FILERS NEW INFORMATION new quality jobs The credit must be claimed within 1 year instead of the normal 3 year statute of limitation period The newly created new quality jobs through year seven and claim the credit on each of those new quality jobs for five years ning on or after January 1 2009 the base amount calculation is based on Georgia gross receipts instead of Georgia ning on or after January 1 2019 For taxable years beginning in 2014 through 2018 no qualified interactive entertainment no late filing penalties will apply no longer required The IRS determination letter allowing non individuals) that were enacted on or before January 1 2015 not adopted the Section 179 deduction for certain real property not exceed $30 million per calendar year Not exceeding $ 10 000 00 10 00 not exceeding 25 percent of the fair market value of the property or 25 percent of the difference between the fair market not extend the period for which a credit not in your name (such as your tax preparer s own account) not responsible if a financial institution rejects a direct deposit not used in any taxable year may be carried forward for 10 years from the close of the taxable year in which the qualified jobs Note: Any short periods ending on the 1st through the 15th day NOTE: Check the Extension box on Form 600 if a Federal or Georgia extension was granted Failure Note: The combined total of the penalty for delinquent filing of NOTE: The Department of Revenue encourages the use of 2D barcode returns; however we neither Note: The requirements as to when and how often the ny; if these requirements are met the Department of Revenue will issue a certification For the taxable years beginning in o Address updates O C G A 36 62 5 1 An existing business enterprise as defined in O C G A 48 7 40 qualifies for an additional $500 credit O C G A 48 7 29 18 and 48 7 29 19 and Revenue Regulation 560 7 8 53 O C G A 48 7 40 1 and which qualifies and receives the tax credit under O C G A 48 7 40 1 and which: O C G A 48 7 40 5 o Direct deposit account o Filing frequency change o Penalty waivers o Protest or appeal a liability o To close an account obtain a credit against income tax liability The credit is calculated on expenses directly related to manufacturing or to of $100 000 00 per calendar year of 1/2 of 1% per month (up to 25%) will accrue until the tax of a new vehicle in 2009 I R C Sections 164(a)(6) and 164(b) of all assets of the taxpayer Any other methodology requires of any state territory or foreign country to the extent such of Authority by reviewing O C G A 14 2 1501 You may of Georgia law to be treated as a domestic corporation and of Historic Places of incorporation will suffice Attach these forms to the of Revenue 1800 Century Center Blvd N E Suite 15311 of Revenue If filing a consolidated Georgia income tax of Revenue Suite 15316 1800 Century Blvd NE Atlanta of Rights will provide fair courteous and timely service to of State s website at http://www sos georgia gov/ Annual of tangible personal property receipts shall be deemed to have of the credit of the income received by the person in all places during the of the month are backed up to the last day of the preceding of the return if earlier Once the income tax return is filed the Department has 120 days to review the withholding credit of the return if earlier Once the income tax return is filed the Department has 120 days to review the withholding credit be of the taxpayer s total state income tax liability for a tax year For tax years beginning on or after January 1 2009 the credit on a first come first served basis The aggregate amount of the tax credit allowed to all taxpayers cannot exceed $58 on a weekend or holiday the return shall be due on the next on Form IT QEE TP1 For more information refer to O C G A 48 7 29 16 and Revenue Regulation 560 7 8 47 on Georgia municipal bonds designated as Build America on Georgia municipal bonds issued by the State of Georgia on or after January 1 2015 losses should generally be on Schedule 1 Line 4 and listed in Schedule 5 The more on Schedule 1 Line 7 The amount of tax must be entered on on the applicable lines on the Federal return such as accounts receivable Gross on Ways and Means and the chairperson of the ONE FACTOR FORMULA one year may not exceed the taxpayer s income tax liability for that taxable year Any unused portion of the credit may be only the gross receipts factor See Georgia Comp Rules and operating loss carryback to 3 4 or 5 years for tax years or after January 1 2002 It substantially changed the or any portion of the addition listed on Schedule 4 or business or business done within this State and derived in part from or final return shall compute the net worth in accordance with or gain; whether or not such corporation is registered to do or indirectly paid to a related member All such expense must or lease of a new low emission vehicle Also there is a credit for the conversion of a standard vehicle to a low emission or leased on or after July 1 2015 or place of business within this State; whether or not any or sponsors an approved adult basic skills program or subtracted on your Georgia income tax form or that have income from Georgia sources are required to file ordinary gain or loss treatment for the sale or exchange of certain Organizations that received IRS determination letters after Other Differences Other differences should be placed on oved by the Environmental Protection Division of the Department of Natural Resources must be included with oved by the Environmental Protection Division of the Department of Natural Resources must be included with the Over 1 000 000 00 and not exceeding 2 000 000 00 750 00 Over 10 000 00 and not exceeding 25 000 00 20 00 Over 10 000 000 00 and not exceeding 12 000 000 00 2 000 00 Over 100 000 00 and not exceeding 150 000 00 125 00 Over 12 000 000 00 and not exceeding 14 000 000 00 2 500 00 Over 14 000 000 00 and not exceeding 16 000 000 00 3 000 00 Over 150 000 00 and not exceeding 200 000 00 150 00 Over 16 000 000 00 and not exceeding 18 000 000 00 3 500 00 Over 18 000 000 00 and not exceeding 20 000 000 00 4 000 00 Over 2 000 000 00 and not exceeding 4 000 000 00 1 000 00 Over 20 000 000 00 and not exceeding 22 000 000 00 4 500 00 Over 200 000 00 and not exceeding 300 000 00 200 00 Over 22 000 000 00 5 000 00 Over 25 000 00 and not exceeding 40 000 00 40 00 Over 300 000 00 and not exceeding 500 000 00 250 00 Over 4 000 000 00 and not exceeding 6 000 000 00 1 250 00 Over 40 000 00 and not exceeding 60 000 00 60 00 Over 500 000 00 and not exceeding 750 000 00 300 00 Over 6 000 000 00 and not exceeding 8 000 000 00 1 500 00 Over 60 000 00 and not exceeding 80 000 00 75 00 Over 750 000 00 and not exceeding 1 000 000 00 500 00 Over 8 000 000 00 and not exceeding 10 000 000 00 1 750 00 Over 80 000 00 and not exceeding 100 000 00 100 00 owned and business done within the State to be determined ownership interest of the partners members or owning property in Georgia must file an initial net worth tax P O Box 740395 Atlanta GA 30374 0395 Page 1 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 2 Page 20 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 panded facilities and increase their port traffic by more than 20% above their base year port traffic may take both job tax part by such taxpayer to another Georgia taxpayer partial exception Form IT REIT must be completed particulate emission reduction equipment at any truck stop depot or other facility For more information refer to O C G A partners members or shareholders of that entity pass through entity may be allocated to the passes the basic skills education test Specifies pay estimated tax and a charge at a rate of 9% per annum for underpayment of estimated tax Compute the payer may be transferred or sold in whole or in payer that has operated an existing manufacturing or telecommunications facility in the state for the previous three years to Payments made prior to filing a completed return must be accompanied by Form IT 560C and claimed on Form payroll expended to employees working within Georgia for the calendar year directly preceding the start of the year the quali PENALTIES AND INTEREST Penalty for delinquent filing is 10% of tax due Penalty for per fiscal year The maximum credit allowed to any taxpayer and their affiliates is $250 000 per fiscal year Taxpayers must per taxable year The Commissioner of the Department of per the ending balance sheet of the short period return The percent of the taxpayers Georgia income tax liability in the taxable year Where the amount of such credit exceeds the permanent jobs or $5 million in annual payroll permission to file a consolidated return using Form IT CONSOL perty that is placed into service in Georgia between July 1 2008 and December 31 2014 The aggregate amount of Please note: The approval letter must be attached to all Please review your completed return: Please see page 1 for the net operating loss carryover Please visit our website for instructional videos and frequently asked questions http://dor georgia gov/georgia Please visit the GTC website at https://gtc dor ga gov for more infromation You may also contact the Electronic pletion forms signed by Department of Technical and Adult Education personnel attached For more information refer to ployer (but only an employer who employs 50 or fewer persons either directly or whose compensation is reported on port numbers to verify the increase in port traffic For more information refer to O C G A 48 7 40 15 portion of this bill (Section 5 1) eliminates both portion of this bill provides that individuals who owe pre approval from the Department Also see Georgia Regulation preferred stock after Dec 31 2007 I R C Section 1221 prepayment to result in a single balance due or overpayment previously paid net worth tax prior election to forego the net operating loss carryback period prior to these changes) This bill: procedural sequence of taxable periods provided by production company s withholding taxes To claim the credit against withholding the production company must file Form production company shall be allowed to claim an amount of tax credits for any single year in excess of its total aggregate production or sale of tangible personal property and from profits paid or accrued within the taxable year imposed by property both within and outside Georgia Schedules 6 and 7 property having an actual situs or a business situs within the property only includes in their receipts factor gross receipts property owned or business done outside the State the tax property receipts shall be deemed to have been derived from property) and Georgia has not adopted I R C Section 199 (federal proval with the Department (preapproval is re proval with the Department (preapproval may be re provide for the modifications required by Georgia Law The total provided by an employer to an employee as described in Section 132(f) of the IRC of 1986 For more information provides that in no event shall the aggregate provides that it shall stand repealed on December providing telecommunications services Taxpayers must apply (use Form IT APP) and receive approval before claiming provisions for S corporations having one or more stockholders provisions Georgia does not follow provisions of all federal laws related to the public To register as a minority subcontractor or to view purchasing/suppliers PV CORP PAYMENT VOUCHER qualified facility on or after July 1 2008 The aggregate amount of tax credits allowed for both the clean energy property qualified interactive entertainment production companies and their affliates will not be available for taxable years begin qualified restaurant property (allowing buildings to now be included) qualifies for an exception If the taxpayer qualifies for a full or qualify for this credit For more information refer to O C G A 48 7 40 16 The zero emission vehicle tax credit was quested before the certified rehabilitation is quested before the class is taken) The Department ratio of gross receipts from business done within this State to reading writing or mathematical skills up to and including the 12th grade or classes to receive a GED certificate may real estate held purely for investment purposes and not Reasons your direct deposit may be rejected If any of the receipts factors are determined per the instructions on Page 8 receipts values in its own apportionment formula receive a tax credit The program is administered by the Department of Technical and Adult Education This credit should be received from other intangible property held for investment refer to O C G A 48 7 29 3 refer to O C G A 48 7 40 2 40 3 and 40 4 refund must be claimed within one year of the date the changes regardless of any extension for filing the return See page register before accessing tax accounts To register you will need: Registration & Licensing Unit 1 877 423 6711 registration and Certificate of Authority obligations are Regulation 560 7 3 13 applicable to consolidated Regulation 560 7 4 05 for more information Regulations 560 7 7 03 for specific details regulations of the Board of Natural Resources and includes an electric vehicle whose drive train is powered solely by rehabilitation expenditure as defined by Section related interest expense directly or indirectly paid to a related member All such expense must be listed as an related to such establishment or reallocation Headquarters is defined as the principal central administrative offices of relating to any scholarship or grant made RELATION TO FEDERAL RETURN relevant exempt organization federal return that is filed repealed and cannot be claimed for vehicles purchased or leased on or after July 1 2015 report to the chairperson of the House Committee reported directly on the S Corporation or partnership return but the request preapproval to claim the credit requested to file a consolidated return by the Commissioner required to receive a GED diploma requirements are satisfied This certification research and development industries but does not include retail businesses If other requirements are met job tax credits are Resources shall not accept new applications for respects (see information on Page 1 about Federal tax retraining employees to use new equipment new technology or new operating systems For tax years beginning on or after return return a separate net worth tax return must be filed by each return ending March 31 2009 The Georgia taxable net return for any credit claimed under this provision A statement from the vehicle manufacturer is not acceptable return on or before the fifteenth day of the third calendar month return to Georgia Department of Revenue Processing return with Georgia is the same as that for filing with the IRS returns A copy of the Federal return and all supporting schedules returns became effective for tax years beginning on Revenue Commissioner Revenue Service Revenue Service prior to January 1 1987 is not required to review the withholding credit being claimed and notify the business of the approved credit and when and how it may be routing number on your checks rules for filing consolidated returns Visit our website at Sales and Use Tax Withholding Tax Film Withholding Corporate Income Tax International Fuel Tax Schedule 1 Line 8 and on Schedule 3 Line 1A Schedule 3 provides for the computation of net tax due or the Schedule L must be completed on the Georgia copy of the Schedule L) of the corporation and covers the tax period search and development that have increased shipments out of Georgia ports during the previous 12 month period by Secretary of State 404 656 2817 Section 125 of the Internal Revenue Code The total amount of the tax credit for a taxable year cannot exceed the Section 1400U 2 of the Internal Revenue Code or any other Section 172 of the Internal Revenue Code of 1986 as it Section 199) Section 85(c) section beginning on Page 1 prior to filling out your return Section for more information secure self service customer facing portal for making online Individual or Business Tax payments and corresponding Senate Finance Committee by June 30 of each send a notice to the corporation s principal office address in separate from any filings with the Department of Revenue separately allocated and deducted the remainder of the net Services Group at 1 877 423 6711 shall be allocated to Georgia if the situs of the corporation is shall be allocated to the State if the property held is real or shall issue the certification if all the above shall receive income tax credits in excess shareholders have not consented to be taxed shareholders in the rehabilitated certified struc shareholders of S Corporations and partners of partnerships for the shareholders of that entity and without regard to the should be reported as stated in the instructions on Page 1 should be used to compute Georgia taxable income skills education program consisting of at least software bought after May 4 2007 and placed in service standard deduction for sales tax on the purchase of a new State state Every such corporation shall be deemed to be doing State of Georgia State Otherwise such gains shall be allocated outside the statutory laws of any nation or state other than Georgia statutory laws of Georgia A domesticated foreign corporation stock should not be deducted from issued capital stock structure and the total value of credits claimed structure other than a historic home subcontractors for the Revenue Department and general subsidiary Visit our website at http://dor georgia gov for successfully completes an approved adult basic such activity or transaction is connected with interstate or such taxpayer s quarterly or monthly withholding tax To claim the credit against withholding a taxpayer must file suitable for conservation purposes Please note that the Department of Natural Resources cannot accept new applica Supervision support nor recommend any software company Failure to mail your return to the correct address may tainment production company and its affiliates which are qualified interactive entertainment production companies is $5 mil tance payable to Georgia Department of Revenue with your return? (To ensure proper credit put tangible personal property must include gross receipts from tangible personal property situated in the State or intangible tax center info tax credit For more information refer to O C G A 48 7 40 24 tax credit It is effective on January 1 2016 tax credit on December 31 2016 It also repeals tax credit the eliminated salary and wage deduction should tax credit with the following threshold criteria: TAX CREDITS TAX CREDITS (continued) TAX CREDITS (continued) TAX CREDITS (continued) tax credits allowed for both the clean energy property tax credit and the wood residuals tax credit is $2 5 million for tax credits by providing that the amount of the tax tax credits preapproved shall not exceed $1 Tax Exempt Organization Information 1 877 423 6711 TAX EXEMPT ORGANIZATIONS tax is then prorated based on the number of months included tax laws of Georgia Accordingly for tax years beginning tax liability and any excess credit may be used to offset withholding taxes There is a 10 year carryforward of any unused tax liability for the tax year Recapture provisions apply if the property is transferred or committed to a use other than child tax return is based on the beginning net worth (Federal tax year before the year of the loss I R C Section 1400N(o) tax year) Please see the Federal Tax Changes tax years beginning on or after 1/1/2008 ) Forms 990 and tax years beginning on or after January 1 2016 taxable net income (Note that for tax years beginning before January 1 2009 the base amount must contain positive taxable year may be carried forward for 5 years from the close of the taxable year in which the investment occurred taxed if federal law prohibits the state from taxing it Federal taxes are deducted to determine Federal taxable income This taxes There is a 15 year carry forward of any unused tax credit For more information refer to O C G A 48 7 40 25 taxing authority and the IRS We welcome your comments taxpayer has depreciation differences from more than one Federal taxpayer s state income tax liability for a taxable year In Tier 3 and Tier 4 counties the total credit amount may offset up to taxpayer s state income tax refund from both the taxpayer s tax liability in a taxable year the excess may be taken as a credit against such taxpayer s quarterly or monthly TAXPAYER SERVICES DIVISION Taxpayer Services Division Director s Office 404 417 2400 taxpayer shall file a return reflecting the changed or corrected Taxpayers should use Georgia Form 4562 to compute depreciation Taxpayers that remit payments by electronic funds transfer telecommunications tourism broadcasting or research and development industries The credit shall be 10% of the TELEPHONE ASSISTANCE TEU s If not the percentage increase in port traffic will be calculated using 75 net tons five containers or 10 TEU s than 20 percent above its base year port traffic and also has increased employment by 400 or more no sooner than January than a historic home) that are completed on or after January 1 2017 For more information refer to O C G A 48 7 29 8 than one box You must check the correct box to ensure your than the manufacture production or sale of tangible personal that date and before tax years beginning on or after 1/1/2008 that Georgia follows I R C Sections 108 381 382 and 384 that purchases an alternative fuel heavy duty vehicle or an alternative fuel medium duty vehicle The credit is allowed on that taxable year No credit may be claimed and allowed under this code section for any jobs created on or after January 1 that taxpayer shall be added to a waiting list and receive priority for the following years credit allocation Credits claimed that the credit cap the aggregate amount of income that the project creates 200 or more full time the aggregate amount of film tax credits allowed for qualified interactive entertainment production companies and their affili the annual $25 million limitation those applica the authority of the United States or any foreign country or the basis used to calculate Georgia taxable income with the calendar year directly preceding the start of the taxable year of the qualified interactive entertainment production compa the conservation tax credit after December 31 2016 the corporation nor for sale in the regular course of business The credit is calculated at 50% of the direct costs of retraining full time employees up to $500 per employee per approved re The credit may be used to offset 100 percent of the taxpayers Georgia income tax liability in the taxable year Where the the credit This became effective January 1 2011 See Code Section 48 7 40 30 and Regulation 560 7 8 52 for more infor the Department of Economic Development) which is located in a tier 2 3 or 4 county The Department of Revenue as outlined in the Taxpayer Bill The Department of Revenue has given approval to certain software companies to produce tax programs that include The estimated tax worksheet is on the Form 602ES Include your corporate name address telephone number the fee is due between January 1 and April 1 The SOS will the film tax credit for qualified interactive The following instructions apply to two separate taxes on the following instructions: The following percentages of estimated tax shall The Georgia Code imposes certain penalties as follows: The Georgia Department of Revenue accepts Visa American the Georgia Lottery Corporation to offset an The Georgia return correlates to the Federal return in most The Governor signed House Bill 292 into law Consequently the Internal Revenue Code are considered Build America the list visit the DOAS website at: http://doas ga gov/state the low emission vehicle and zero emission vehicle The mailing address for Form 3605 is Georgia Department the minimum tax of $10 00 A corporation which has been The net worth tax shall be computed based upon the net worth the order in which the application was received the other addition or subtraction line of the applicable return the payment voucher the qualified investor tax credit (also known The request must be submitted 75 days before the the return by an officer and the preparer also apply to Georgia the return for any credit claimed under this provision A statement from the vehicle manufacturer is not accept the return is being amended due to an IRS audit; check the The return is due on or before the 15th day of the 3rd month the return on which the applicable jobs are claimed Once the income tax return is filed the Department has 90 days to The routing number must be nine digits The first two digits THE SECRETARY OF STATE the statutory due date of the return a late payment penalty The tax imposed by Georgia law applies to the entire net The tax is graduated based on net worth In the case of new the tax to retain its charter A foreign corporation admitted into the taxpayers average adjusted basis of the U S obligations the taxpayers of Georgia Our mission is to provide the best the Technical College System of Georgia Office of the total available net operating loss carryover on Schedule the year If this return is for a short period of less than six the years following the base year then the employer must request certification from then this code section shall exist as it was There is also the requirement that the number of full time employees equal or exceed 1 800 However these jobs do not there will be a difference in the gain or loss on the sale of the property Thereafter an annual return must be filed on or before the This booklet contains the instructions required by most This booklet is designed to provide information and assist THIS PAGE INTENTIONALLY LEFT BLANK This should be entered on the other addition line of the return This should be entered on the other subtraction line of the return This year you can electronically file your corporate return through six after the creation of the jobs In Tier 1 and Tier 2 counties the total credit amount may offset up to 100% of a Tier 1 $ 5 Million 10% Tier 2 $10 Million 8% Tier 3 or 4 $20 Million 6% Tier 3 or 4 1% 3% time for filing does not affect any interest or penalty charged for tions after December 31 2016 A copy of this certificate must be filed with the taxpayer s tax return in order to claim the tions for further information or refer to the Department of Community Affairs website tions shall be given priority the following year to $25 000 and the related phase out is $200 000 Georgia has to $5 million for any taxable year except in the case to a duplicate original return to all taxable years beginning on or after To amend a return check the amended return block on to apportionment All expenses connected with the interest to apportionment but must be applied against the investment to be taxed based upon total net worth to check the extension box will result in assessment of a late filing penalty to claim the additional depreciation on the Federal return to claim these credits on Forms IT CEP AP For more information refer to O C G A 48 7 29 14 to compute Federal taxable income because of a Federal jobs to Current Year Then insert Current Year Income / (Loss) in the space provided and compute the NOL Carry to customers in this State or products delivered to customers to do business in Georgia must file an annual registration to file a net worth tax return nor is it entitled to a refund of to January 1 2009 may be entitled to a tax credit if the following criteria are met: 1) At least fifty (50) headquarters jobs to May 4 2007 Kansas storms and tornadoes in the fifth to minority subcontractors or $100 000 whichever is less to request permission by such time will require the to retail space I R C Sections 168(e)(3)(E)(ix) 168(e)(8) and to the Georgia partnership or S Corporation return is not required to this address See When and Where to File for the to visit our website at http://dor georgia gov where to write checks or to: Georgia Taxpayer Services Division P O Box 49432 Atlanta total amount of the credit that may be claimed total credit allowed is $50 million The credit offsets income tax liability and any excess may be used to offset withholding total gross receipts from business done everywhere Total subtractions from Federal income should be indicated Total the remaining NOL (Col F) and enter in the space at the bottom of the worksheet for NOL Carry forward Available training program per year For tax years beginning on or after January 1 2009 there is a cap of $1 250 per year per full time TREATMENT OF SHORT PERIOD ture provided that the entity or person that TWO DIMENSIONAL BARCODE RETURNS U S obligation income must be reduced by direct and indirect United States unless such business enterprise has increased its port traffic of products during the previous twelve month period by more unused credit may be carried forward for three years and the credit is limited to 50% of the employer s Georgia income used in the operation of the business are also not subject using Form IT 560C Credit for this prepayment should be using this base year average The credit available to the taxpayer in any given year is the lesser of the following amounts: v Are your corporate name address and Federal ID Number entered correctly on the return? v Current year individual and corporate tax payments; v Did you receive an extension of time to file your return? If so did you enclose a copy of the v Have you addressed your envelope properly? Do not mail your Georgia Form 600 to the Internal v Have you included a copy of Federal Form 1120 and supporting schedules with your return? v If there is an overpayment (on Schedule 3 Line 6) did you show the amount to be refunded v If there is tax due (on Schedule 3 Line 10) have you attached Form PV CORP and your remit v If you claimed Georgia Business credits did you include the required schedules or forms? v Individual and corporate estimated tax payments v Is the taxable year shown on your return? v Liabilities on Department of Revenue issued assessment v Please DO NOT use staples value and the amount paid to the donor if the donation is effected by a sale of for less than fair market value up to a maxi vehicle in 2009 because Georgia has its own standard deduction vehicle which is equal to 10% of the cost of conversion not to exceed $2 500 per converted vehicle Certification appr view the statute and obtain an application on the Secretary wage of the county in which it is located; and 5) For a taxpayer that initially claimed the credit in a taxable year beginning wage of the county that has the lowest average wage of any county in the state Also employers must make health insurance were enacted on or before January 1 2015 This were established The measurement of the new full time jobs and maintained jobs is based on average monthly employment What is the Georgia Tax Center? The Georgia Tax Center (GTC) is the Department of Revenue s WHEN AND WHERE TO FILE WHEN ELECTRONIC FILING IS REQUIRED When receipts are derived from business other than the sale When receipts are derived from the sale of tangible personal When salaries and wages are reduced on the Federal return when the federal counterpart of such return is required to When two or more corporations file a consolidated return whenever the corporation is a partner whether limited or whether on a mandatory or voluntary basis must which there is a special exemption under Georgia law from who are nonresidents of Georgia must file consent Form 600S Who Can Sign Up? Any business that pays taxes in the state of Georgia is eligible to use GTC for who incur a loss shall compute the net operating loss carryover with Georgia with the Department with the playing of golf shall not be eligible Taxpayers will be able to claim a credit against their state income tax liability with the Secretary of State (SOS) Registration including withholding tax To claim the credit against withholding a business must file Form IT WH at least 30 days prior to filing within Georgia as computed in Schedule 2 using the ratio within this State within two years of the placed in service word processing database management presentations spreadsheets e mail personal information management or comput worth per the March 31 2009 balance sheet is $90 000 The worth taxable year Net worth is defined to include issued year and it provides that the Department of Natural year beginning before January 1 2009 credits are allowed for new credit full time employee jobs for five years in years two year in order to claim the credit year made to employees who are not authorized employees year may be carried forward for five years from the close of the taxable year in which the cost of the operation was year must be carried back and carried forward in the year port traffic and port traffic include imports and exports of product It allows the credit to any business enterprise located year Such report shall contain the total sales tax years beginning before January 1 2019 Also for years beginning in 2014 through 2018 is $12 5 million for each year The maximum credit for any qualified interactive enter years beginning on or after January 1 2008 See the years then included ratably over five years I R C Section 108(i) you can download forms and obtain up to date tax your Federal ID Number and the tax year end on your remittance ) Zone property I R C Section 1400N(d)(1)