Georgia Form 600 Instructions

By Danielle Smyth - Updated August 13, 2018
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In the state of Georgia, Form 600 is known as the Corporation Tax Return Form. All corporations must complete this Georgia income tax form at the end of each tax year. In addition, estimated tax payments must be made throughout the year according to the state’s published schedule. Failure to do so can result in penalties. Corporations may take advantage of a number of tax credits to lessen their tax burdens, all of which are outlined in the instructions for Form 600.

GA Form 600 Instructions

To properly complete Georgia Form 600, you must first download the form from the state’s website and use an updated version of Adobe Acrobat to view and edit it. The state explains that you cannot complete the form online even though it is fillable, since different web browsers respond differently to such documents.

Every domestic or foreign corporation subject to Georgia tax must pay an estimated tax, provided its net income for that year is expected to exceed $25,000. These taxes must be paid to the Georgia Department of Revenue by the dates specified each year. If your corporation fails to comply with this requirement, you may face a penalty of 5 percent of the income tax and an additional charge at a rate of 9 percent per year for underpayment. There is a place on Form 600 to calculate any penalty you might owe.

This tax form permits a number of credits, including a new facilities credit, zero-emissions vehicle credit and headquarters tax credit. IT 611 is the state of Georgia’s instruction booklet for Form 600, and it outlines the various credits your corporation might be entitled to take.

Georgia Net Worth Tax and Income Tax

The state of Georgia levies a corporate income tax against corporations. However, when a corporation is designated by the state as an S-corp, its shareholders pay the tax, rather than the corporation paying it. This income tax is calculated via a non-graduated percentage based on a corporation's federal taxable net income. All companies that are incorporated, own property, do business in Georgia or receive income from Georgia are subject to the tax. This tax is levied at 6 percent of the company’s net taxable income.

In addition to this corporate income tax, corporations may need to pay a net worth tax. If a company is incorporated and has a net worth of $100,000 or less, it is not subject to the tax. However, the company must file a return. A series of specific dates dictate when this return must be filed. For instance, new corporations must file the form before the 15th day of the third calendar month after their incorporation.

About the Author

Danielle Smyth is a writer and content marketer from upstate New York. She holds a Master of Science in Publishing from Pace University. Her experience includes years of work in the insurance, workers compensation, disability, and background investigation fields. In addition to being the content writer and social media manager for Alliance Worldwide Investigative Group, she has written on legal topics for a number of other clients. She owns her own content marketing agency, Wordsmyth Creative Content Marketing (www.wordsmythcontent.com), and she enjoys writing legal articles and blogs for clients in related industries.

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