Form G 2Rp PDF Details

In the realm of real estate and tangible personal property transactions involving nonresidents, the G-2RP form emerges as a crucial document designed to ensure compliance with state tax obligations in Georgia. At its core, the form orchestrates the withholding and remittance of taxes from sales or transfers by nonresidents, embedding a mechanism that addresses both the straightforward and nuanced aspects of taxation law. By requiring details such as the seller’s and buyer’s names and tax identification numbers, alongside the sale’s date and the total sales price, this form dovetails with procedural tax diligence. Furthermore, it allows for the disclosure of the taxable amount or gain—offering a path to potentially lower the withholding rate based on a calculated taxable profit rather than the gross sales price. The stipulation for an affidavit (Form IT-AFF2) for this purpose underscores the system’s adaptability and the importance of accurate, sworn information in determining tax liabilities. Additionally, guidance on multiple sellers and distinguishing the treatment of entities like disregarded single member limited liability companies illuminates the form's encompassing scope. Designed to facilitate a seamless interaction between the tax obligations of nonresident sellers and the Georgia Department of Revenue, the G-2RP form embodies a comprehensive approach to withholding taxes on real estate transactions, thereby safeguarding the fiscal interests of both the state and the parties to the transaction.

QuestionAnswer
Form NameForm G 2Rp
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesSMLLC, it aff2, remitted, withheld

Form Preview Example

Form G-2RP(Rev. 12/11)

Check here if multiple sellers

Withholding on Sales or Transfers of Real Property and Associated Tangible Personal Property by Nonresidents

 

1. Seller’s Name

 

2. Seller’s Social Security or FEI Number

 

 

 

 

 

 

 

 

9. Date of sale

_______________

 

 

 

 

 

 

 

 

 

 

3. Address

 

 

 

10. Total sales price

$_______________

 

 

 

 

 

 

 

 

 

 

 

 

11. Taxable amount or

 

 

 

City

 

State

ZIP Code

 

 

 

 

gain (optional)

$_______________

 

 

 

 

 

 

 

 

 

 

 

 

12. Amount withheld

or

 

4. Buyer’s Name

 

5. Buyer’s Social Security or FEI Number

 

 

remitted to State

$_______________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remit to:

 

 

 

6. Address

 

 

 

 

 

 

 

 

 

 

Georgia Department of Revenue

 

 

 

 

 

Processing Center

 

City

 

State

ZIP Code

 

 

P.O. Box 105678

 

 

 

 

 

 

 

 

 

 

Atlanta, GA 30348-5678

 

7. Contact Person

 

8. Telephone Number

 

 

 

 

 

 

 

 

 

 

 

 

COPY 1 - STATE COPY

 

 

 

 

 

 

 

 

 

 

 

 

 

------------------------------------------------------------------------------------------------------------------------------------------------------

 

Instructions

 

 

 

 

 

 

Line 1. If more than one seller, submit a separate form for each.

Line 2.

Social security number if an individual; FEI number if a corporation or other organization with an FEI number.

Line 3.

If mailing address ia a Post Office Box, also list street address.

Line 4.

If more than one buyer, submit a separate form for each.

Line 5.

Social security number if an individual; FEI number if a corporation or other organization with an FEI number.

Line 6.

If mailing address is a Post Office Box, also list street address.

Line 7.

Contact name for buyer.

Line 8.

Telephone number for contact person.

Line 9.

Date the sale or transfer of real property and associated tangible personal property took place.

Line 10.

Total amount paid for the real property and associated tangible personal property, including the value of any real,

 

personal, tangible or intangible property given in consideration of the sale or transfer. If multiple sellers, list only the

 

portion related to the seller listed on Line 1.

Line 11.

If the taxable gain from the sale or transfer is known, and the taxable amount or gain is less than the sales price, seller

 

may execute an affidavit (Form IT-AFF2) to the buyer, swearing to the taxable amount or gain, and the amount to be

 

withheld (Line 12) may be computed using the taxable amount or gain; otherwise, the amount to be withheld and remitted

 

(Line 12) is to be calculated based on the total sales price (Line 10). If multiple sellers, list only the portion related to

 

the seller listed on Line 1.

Line 12. Amount withheld and remitted to the State is 3% of the total sales price (Line 10), unless the seller has supplied an affidavit (Form IT-AFF2) to the buyer, swearing to the taxable amount or gain, in which case, the amount to be withheld and remitted to the State shall be computed as 3% of the taxable amount or gain (Line 11).

Remit tax by mailing this form with payment for the amount on Line 12 on or before the last day of the month following the closing. The seller should retain 2 copies of the form and give a copy to the buyer. Sellers must attach a copy of Form G-2RP to their Georgia individual income tax return.

Please note: For all purposes of this withholding, the person or entity identified as the seller on the settlement statement shall be considered the seller. If the seller is a disregarded single member limited liability company (SMLLC), both the SMLLC and its owner should be listed as the seller on this form. Both the SMLLC and its owner may be listed on the settlement statement.

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