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Accountant-authored. Written and published by Jeff Watts, an accountant approved on OpenAccountants. Their licence number (ACF-04080) is published on their profile, so you can check it against the register yourself. No second accountant has attested to this version yet. General reference material, not advice on your specific facts; don't file, pay, or take a position on it without a professional reviewing your situation.
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This guide covers the annual Georgia state income tax returns for pass-through entities: Form 700 for partnerships (and entities taxed as partnerships) and Form 600S for S-corporations. Entities doing business in Georgia, owning property in Georgia, or deriving Georgia-source income generally must file (confirm the exact nexus and filing triggers before filing). The return covers the entity's tax year, typically matching its federal tax year (confirm before filing).
Preparers filing a Georgia return for a partnership, multi-member LLC, or other entity taxed as a partnership (Form 700). Preparers filing for a federal S-corporation with Georgia activity (Form 600S) — note Georgia may require or recognize a separate state-level S election or federal-election attachment (confirm before filing). Firms with nonresident owners, where Georgia nonresident withholding or composite-return concepts may apply (confirm before filing).
Federal return status: is the 1065 or 1120-S final, and do you have all federal K-1s? Ownership: full owner list with addresses, entity types, residency status, and ownership percentages as of year end and any mid-year changes. Georgia footprint: property, payroll, and sales in Georgia vs. everywhere (for apportionment, if multistate — method to confirm before filing). Did the entity make, or does it want to make, a pass-through entity tax (PTET-style) election, if Georgia offers one? Deadline and mechanics to confirm before filing. Were estimated payments or withholding remitted during the year — by the entity or on behalf of nonresident owners? Get amounts and dates. Any Georgia credits (jobs, investment, or similar — availability to confirm before filing) or credit carryforwards from prior years? Prior-year Georgia return and any state correspondence or notices.
Open the completed federal return (1065 or 1120-S) and confirm it is final; the Georgia return starts from federal figures. Check registration: confirm the entity is registered with the state tax authority and has its state account credentials for the portal (portal name and access — confirm before filing). Choose the correct form: Form 700 for partnership-taxed entities, Form 600S for S-corporations. Confirm any state S-election or federal-election attachment requirement before filing. Compute Georgia adjustments to federal income: additions and subtractions per state rules (specific items — confirm before filing). Apportion if multistate: apply Georgia's apportionment method to allocate income (factor(s) and method — confirm before filing). Decide on the PTET-style election, if available: model owner-level benefit, confirm the election deadline, mechanics, and rate before filing, and document the owners' consent if required. Address nonresident owners: determine whether nonresident withholding, composite filing, or owner consent agreements apply (thresholds and forms — confirm before filing). Prepare Georgia K-1 equivalents or owner statements showing each owner's share of Georgia-source income and any credits or withholding (required schedule format — confirm before filing). Reconcile payments: tie estimated payments, withholding, and any election-related payments to the state account transcript before computing balance due or overpayment. Review the deadline and extension status: confirm the original due date, whether a federal extension carries over or a separate state extension is required, and whether extension covers payment (confirm before filing). File on the state tax authority's portal (or approved e-file channel — confirm before filing), remit any balance due, and save the confirmation. Deliver owner packages: send each owner their Georgia schedule/statement so their personal returns can pick up state amounts and credits.
Assuming the federal S election automatically covers Georgia — a separate state recognition step may exist (confirm before filing). Missing the PTET-style election window, if one exists — these elections are often irrevocable or time-boxed (confirm before filing). Ignoring nonresident owner withholding or composite obligations until filing time; penalties may attach at the entity level (confirm before filing). Copying federal income without state addition/subtraction adjustments. Owner changes mid-year: percentages on the state schedules must reflect actual ownership periods, not just year-end. Treating a federal extension as automatically valid for Georgia, or assuming extension of time to file extends time to pay (confirm before filing). Double-counting or omitting entity-level tax paid under an election when preparing owners' personal returns.
Rates, thresholds and deadlines (citation to confirm)
| What | Value | Source |
|---|---|---|
| Original filing due date (Form 700) | confirm before filing | citation to confirm |
| Original filing due date (Form 600S) | confirm before filing | citation to confirm |
| Extension mechanics and extended due date | confirm before filing | citation to confirm |
| PTET-style election availability, deadline, and rate | confirm before filing | citation to confirm |
| Nonresident owner withholding rate and threshold | confirm before filing | citation to confirm |
| Composite return availability and rules | confirm before filing | citation to confirm |
| Estimated payment requirements and dates | confirm before filing | citation to confirm |
| Late filing / late payment penalties and interest | confirm before filing | citation to confirm |
| Apportionment method | confirm before filing | citation to confirm |
| E-file mandate / portal filing requirement | confirm before filing | citation to confirm |
Contributed by Jeff Watts, ACF-04080.
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Other Georgia (US) computations in the OpenAccountants Tax Library.