Georgia Form 600 – Fill Out and Use This PDF

Georgia Form 600 (Rev. 11/10)

Corporation Tax Return

Georgia Department of Revenue (Approved booklet version)

*NOTE: Any tax credits from Schedule 9 may be applied against income tax liability only, not net worth tax liability.

Georgia Form 600/2010 (Corporation) Name_______________________________________FEIN____________________

A copy of the Federal Return and supporting Schedules must be attached, otherwise this return shall be deemed incomplete. No extension of time for filing will be allowed unless a copy of the request for a Federal extension or Form IT-303 is attached to this return.

Make check payable to: Georgia Department of Revenue

Mail to: Georgia Department of Revenue, Processing Center, P.O. Box 740397, Atlanta, Georgia 30374-0397

Georgia Public Revenue Code Section 48-2-31 stipulates that taxes shall be paid in lawful money of the United States, free of any expense to the State of Georgia. Declaration: I/We declare under the penalties of perjury that I/we have examined this return (including accompanying schedules and statements) and to the best of

tax return with the named preparer.

Georgia Form 600/2010 (Corporation) Name_______________________________________FEIN____________________

See pages 14 through 19 for a list of available credits and their applicable codes. You must list the appropriate credit type code in the space provided. If you claim more than four credits, attach a schedule. Enter the total of the additional schedule on Line 5. If the tax credit is flowing or being assigned into this corporation from another corporation, please enter the name and FEIN of the corporation where the tax credit originated. If the credit originated with the corporation filing this return, enter “Same” in the spaces for corporation and FEIN.

Georgia Code Section 48-7-42 provides that in lieu of claiming any Georgia income tax credit for which a taxpayer otherwise is eligible for the taxable year, the taxpayer may elect to assign credits in whole or in part to one or more “affiliated entities”. The term “affiliated entities” is defined as:

1)A corporation that is a member of the taxpayer’s affiliated group within the meaning of Section 1504(a) of the Internal Revenue Code; or

2)An entity affiliated with a corporation, business, partnership, or limited liability company taxpayer, which entity:

(a)Owns or leases the land on which a project is constructed;

(b)Provides capital for construction of the project; and

(c)Is the grantor or owner under a management agreement with a managing company for the project.

No carryover attributable to the unused portion of any previously claimed or assigned credit may be assigned or reassigned, except if the assignor and the recipient of an assigned tax credit cease to be affiliated entities, then any carryover attributable to the unused portion of the credit is transferred back to the assignor of the credit. The assignor is permitted to use any such carryover and also shall be permitted to assign the carryover to one or more affiliated entities, as if such carryover were an income tax credit for which the assignor became eligible in the taxable year in which the carryover was transferred back to the assignor. In the case of any credit that must be claimed in installments in more than one taxable year, the election under this subsection may be made on an annual basis with respect to each such installment. For additional information, please refer to Georgia Code Section 48-7-42.

If the corporation filing this return is assigning tax credits to other affiliates, please provide detail below specifying where the tax credits are being assigned.

All assignments of credits must be made before the statutory due date (including extensions) per O.C.G.A. § 48-7-42 (b).

If this corporation and its affiliates to whom credits are being assigned are filing as part of a Georgia consolidated return, you must provide the name and FEIN of the corporation under which the consolidated Georgia return is being filed to ensure that the tax credits are properly applied.

Corporation: ____________________________________________ FEIN __________________

Georgia Form 600/2010 (Corporation) Name_______________________________________FEIN____________________

INSTRUCTIONS

Column A:List the loss year(s).

Column B:List the loss amount for the tax year listed in Column A.

Columns C& D:List the years in which the losses were utilized and the amount utilized each year.

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.

Total the remaining NOL (Col. F) and enter in the space at the bottom of the worksheet for “NOL Carry Forward Available to Current Year”. Then insert “Current Year Income / (Loss)” in the space provided and compute the “NOL Carry Forward Available to Next Year” in the last space. DO NOT check the box for IT 552 on the return if Schedule 11 is used.

Create photocopies as needed. See example worksheet on page 9.

GEORGIA NOL CARRY FORWARD WORKSHEET EXAMPLE

INSTRUCTIONS

Column A: List the loss year(s).

Column B List the loss amount for the tax year listed in Column A.

Columns C& D:List the years in which the losses were utilized and the amount utilized each year.

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.

Total the remaining NOL (Col. F) and enter in the space at the bottom of the worksheet for “NOL Carry forward Available to Current Year”. Then insert “Current Year Income / (Loss)” in the space provided and compute the “NOL Carry forward Available to Next Year” in the last space. Do not check the box for IT 552 on the return if schedule 11 is used. Create photocopies as needed.

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