2021 Georgia Code
Title 48 - Revenue and Taxation
Chapter 7 - Income Taxes
Article 2 - Imposition, Rate, Computation, Exemptions, and Credits
- § 48-7-20. (For Effective Date, See note.) Individual Tax Rates; Credit for Withholding and Other Payments; Applicability to Estates and Trusts
- § 48-7-21. (For Effective Date, See note.) Taxation of Corporations
- § 48-7-21.1. Compensation Paid by Taxpayer Disallowed as Business Expense; Applicability
- § 48-7-22. Taxation of Fiduciaries; Rate; Taxable Net Income of Estate or Trust; Exemptions; Computation of Net Income; Determination of Taxable Year; Tax as Charge Against Estate or Trust
- § 48-7-23. Taxation of Partnerships; Computation of Net Income; Disallowance of Charitable Contributions; Individual Liability of Partners; Individual Returns of Distributive Shares; Taxable Years; Elections
- § 48-7-24. Nonresident Members of Resident Partnerships; Resident Members of Nonresident Partnerships; Profits; Distributive Shares; Taxability; Applicability
- § 48-7-25. Exempt Corporations and Organizations; Procedure for Obtaining Exempt Status; Revocation of Exempt Status; Grounds; Retroactivity; Statute of Limitations; Information Returns; Unrelated Business Income; Deductibility of Death Benefit Payments
- § 48-7-26. Personal Exemptions
- § 48-7-27. Computation of Taxable Net Income
- § 48-7-28. Reciprocity
- § 48-7-28.1. Tax Repayments and Benefits
- § 48-7-28.2. Employer Social Security Credits
- § 48-7-28.3. Expenses From Transactions With Related Members
- § 48-7-28.4. Adjustments to Taxes; Disallowing Expenses Paid to Certain Real Estate Investment Trusts; Procedures, Conditions, and Limitations
- § 48-7-29. Tax Credits for Rural Physicians
- § 48-7-29.1. Tax Credits for Retrofitting Certain Single-Family Homes With Accessibility Features
- § 48-7-29.2. Tax Credits for Qualified Caregiving Expenses
- § 48-7-29.3. Tax Credits for Federal Qualified Transportation Fringe Benefits
- § 48-7-29.4. Tax Credits for Disaster Assistance Funds Received
- § 48-7-29.5. Tax Credits for Private Driver Education Courses of Minors; Required Documentation; Rules and Regulations
- § 48-7-29.6. Tax Credits for Qualified Low-Income Buildings
- § 48-7-29.7. Tax Credits for Depository Financial Institutions
- § 48-7-29.8. (Repealed Effective December 31, 2022) Tax Credits for the Rehabilitation of Historic Structures; Conditions and Limitations
- § 48-7-29.9. Tax Credits for Qualified Life Insurance Premiums for National Guard and Air National Guard Members
- § 48-7-29.10. Tax Credits for Qualified Child and Dependent Care Expenses
- § 48-7-29.11. Tax Credits for Certain Teleworking Expenses
- § 48-7-29.12. Tax Credits for Qualified Donation of Real Property
- § 48-7-29.13. Tax Credits for Qualified Health Insurance Expenses
- § 48-7-29.14. Tax Credits for Clean Energy Property
- § 48-7-29.15. Tax Credits for the Adoption of Foster Children
- § 48-7-29.16. Tax Credits for Contributions to Student Scholarship Organizations
- § 48-7-29.17. Tax Credit for the Purchase of One Eligible Single-Family Residence
- § 48-7-29.18. Tax Credits for Purchasers of Alternative Fuel Heavy Duty and Medium Duty Vehicles
- § 48-7-29.19. Procedures, Conditions, and Limitations on Amount of Tax Credits for Purchasers of Alternative Fuel Heavy-Duty and Medium-Duty Vehicles
- § 48-7-29.20. (Repealed Effective December 31, 2024) Tax Credits for Contributions to Rural Hospital Organizations
- § 48-7-29.21. (Repealed Effective December 31, 2023) Tax Credits for Qualified Education Donations for the Purpose of Awarding Grants to Public Schools
- § 48-7-29.22. (Repealed Effective December 31, 2023) Tax Credits for Certain Medical Preceptor Rotations
- § 48-7-29.23. Tax Credits for Teachers in the Teacher Recruitment and Retention Program
- § 48-7-30. Taxation of Nonresident's Entire Net Income Derived From Activities Within State; Separate Accounting Possible; Applicability; Allowed Deductions; Applicability of Provisions for Corporations to Nonresidents
- § 48-7-31. Taxation of Corporations; Allocation and Apportionment of Income; Formula for Apportionment
- § 48-7-31.1. Conditions for Allocating Taxpayer's Income Pursuant to Agreement; Public Inspection; Criteria for Evaluating Proposals
- § 48-7-32. Taxation of Railroad and Public Service Corporations; Computation of Net Income Where Business Is Within and Outside State; Net Income for All Other Such Corporations
- § 48-7-33. Annual Accounting Periods
- § 48-7-34. Returns of Corporations and Nonresidents Based Upon Books of Account; Application to Commissioner; Time; Contents
- § 48-7-35. Application for Permission to Use Other Method of Allocation by Corporation or Nonresident; Contents; Effect of Failure to Receive Notice of Rejection
- § 48-7-36. Tolling of Time Limits for Filings by Reason of War Related Service in Armed Forces
- § 48-7-37. Taxes Due From Members of Armed Forces Dying on Active Duty; Applicability of Tax to Particular Taxable Years; Assessment of Unpaid Taxes; Abatement; Credit or Refund of Collected Payments
- § 48-7-38. Deduction for Payments to Minority Subcontractors; Certification as Minority Subcontractor
- § 48-7-39. Depreciation of Property Placed in Service in Prior Tax Years
- § 48-7-40. Designation of Counties as Less Developed Areas; Tax Credits for Certain Business Enterprises
- § 48-7-40.1. Tax Credits for Business Enterprises in Less Developed Areas
- § 48-7-40.1A. Additional Job Tax Credits for Manufacturers of Personal Protective Equipment
- § 48-7-40.1B. Tax Credit for Jobs Created by Manufacturers of Medical Equipment, Medical Supplies, Pharmaceuticals, or Medicine
- § 48-7-40.2. Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 1 Counties
- § 48-7-40.3. Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties
- § 48-7-40.4. Tax Credits for Existing Manufacturing and Telecommunications Facilities or Manufacturing and Telecommunications Support Facilities in Tier 3 or 4 Counties
- § 48-7-40.5. Tax Credits for Employers Providing Approved Retraining Programs
- § 48-7-40.6. Tax Credits for Employers Providing Child Care
- § 48-7-40.7. Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 1 Counties
- § 48-7-40.8. Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties
- § 48-7-40.9. Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities or Manufacturing and Telecommunications Support Facilities in Tier 3 and 4 Counties
- § 48-7-40.10. Tax Credits for Water Conservation Facilities and Qualified Water Conservation Investment Property
- § 48-7-40.11. Tax Credits for Shift From Ground-Water Usage
- § 48-7-40.12. Tax Credits for Qualified Research Expenses
- § 48-7-40.13. "Business Enterprise" Defined; Tax Credit
- § 48-7-40.14. Calculation of New Full-Time Jobs
- § 48-7-40.15. Alternative Tax Credits for Base Year Port Traffic Increases
- § 48-7-40.15A. Increased Job Tax Credit Based on Increase in Port Traffic
- § 48-7-40.16. Tax Credits for Alternative Fuel, Low-Emission and Zero-Emission Vehicles, and Electric Vehicle Chargers
- § 48-7-40.17. Tax Credits for Establishing or Relocating Quality Jobs
- § 48-7-40.18. Tax Credits for Businesses Headquartered in State; Full-Time Jobs
- § 48-7-40.19. Diesel Particulate Emission Reduction Technology Equipment; Tax Credit
- § 48-7-40.20. Tax Credits for Businesses Engaged in Manufacturing Cigarettes for Exportation; Amount; Required Information
- § 48-7-40.21. Tax Credits for Existing Business Enterprises Undergoing Qualified Business Expansion; Recapture; Application of Credit
- § 48-7-40.22. Tax Credits for Business Enterprises for Leased Motor Vehicles; Daily Ridership; Implementation
- § 48-7-40.23. Election to Count New Jobs on Calendar Year Basis
- § 48-7-40.24. Tax Credits for Jobs Associated With Large-Scale Projects
- § 48-7-40.25. Tax Credits for Investment in Expanding Existing Manufacturing Facilities; Enhancements for High-Impact Aerospace Defense Projects
- § 48-7-40.26. Tax Credits for Film, Gaming, Video, or Digital Production
- § 48-7-40.26A. Tax Credits for Postproduction Expenditures
- § 48-7-40.27. Tax Credits for Qualified Investments in a Research Fund
- § 48-7-40.28. Limitation on the Aggregate Amount of Tax Credits Allowed for Qualified Investments in a Research Fund
- § 48-7-40.29. (For Effective Date, See note.) Tax Credits for Certain Qualified Equipment That Reduces Business or Domestic Energy or Water Usage
- § 48-7-40.30. Tax Credits for Certain Qualified Investments for Limited Period of Time
- § 48-7-40.31. Tax Credits for Employing Qualified Parolees
- § 48-7-40.32. Revitalization Zone Tax Credits
- § 48-7-40.33. (Repealed Effective January 1, 2023) Tax Credits for Musical or Theatrical Performances
- § 48-7-40.34. (Repealed Effective January 1, 2027.) Tax Credits for Class Iii Railroads; Reporting
- § 48-7-40.35. Tax Credits for Qualified Employers; Conditions and Limitations to Credit; Requirements for Being Qualified Employer
- § 48-7-40.36. Tax Credits for Timber Producers Incurring Losses From Hurricane Michael
- § 48-7-41. Basic Skills Education Program Credits
- § 48-7-42. Affiliated Entities; Assignment of Corporate Income Tax Credits; Carryover of Unused Credits; Joint and Severable Liability
Cross references.
- Tax deduction for purchase of fluoride-removing device by person allergic to fluoridated water, § 12-5-175.
Tax deductions and exemptions relating to making of student loans by Georgia Higher Education Assistance Corporation, § 20-3-283 et seq.
Deduction for contributions made to Georgia Student Finance Authority, § 20-3-322.
Provision that payments for relocation assistance shall not be considered income, § 22-4-13.
Editor's notes.
- Ga. L. 1987, p. 191, § 10, not codified by the General Assembly, provided that this Act is applicable to taxable years ending on or after March 11, 1987, and that a taxpayer with a taxable year ending on or after January 1, 1987, and before March 11, 1987, may elect to have the provisions of that Act apply.
Ga. L. 1987, p. 191, § 10, not codified by the General Assembly, also provided that tax, penalty, and interest liabilities and refund eligibility for prior taxable years shall not be affected by that Act.
Ga. L. 1987, p. 191, § 10, not codified by the General Assembly, also provided that provisions of the federal Tax Reform Act of 1986 and of the Internal Revenue Code of 1986 which as of January 1, 1987, were not yet effective become effective for purposes of Georgia taxation on the same dates as they become effective for federal purposes.
Law reviews.
- For note on the 1994 amendments of Code Sections 48-7-40 to 48-7-40.1 and enactment of Code Sections 48-7-40.2 to 48-7-40.6 of this article, see 11 Georgia St. U.L. Rev. 249 (1994).RESEARCH REFERENCES
ALR. - Bond or warrant of governmental subdivision as subject of taxation or exemption, 26 A.L.R. 547; 44 A.L.R. 510.Licensing tax on forwarding or local agency rendering services incidental to interstate shipments, 34 A.L.R. 912.
Nature of interest of special partner for purpose of income tax, 45 A.L.R. 1381.
Gains from unlawful business or transactions as subject of income tax, 51 A.L.R. 1026; 166 A.L.R. 891.
Year in which loss or bad debt must be charged in order to be allowed as a deduction from taxpayer's income, 55 A.L.R. 1280; 67 A.L.R. 1015; 121 A.L.R. 697; 135 A.L.R. 1430.
What is a personal service corporation within Internal Revenue Act, 59 A.L.R. 1279.
Gift or trust for benefit of employees of corporation or business as within exemption or deduction provisions of succession tax or income tax law, 71 A.L.R. 870.
Excise tax on corporations as factor in determining question as to discrimination against individuals in favor of corporations in respect of property or income tax upon former, 73 A.L.R. 737.
Applicability, construction, and effect of provision of Income Tax Act excluding from income subject to tax the value of property acquired by gift, devise, bequest, or descent, 73 A.L.R. 1536; 119 A.L.R. 415.
Right of taxpayer to relief from his own errors in assessing his income tax or making out his income tax return, 80 A.L.R. 377.
Liability for income tax in respect of amount of tax paid by another, 91 A.L.R. 1270.
Interest on bonds or other obligations issued by municipalities or other political units of state as subject of state income tax in absence of express exemption, 98 A.L.R. 1346.
What constitutes doing business, business done, or the like, outside the state for purposes of allocation of income under tax laws, 167 A.L.R. 943.
Right of employer to deduct, for income tax purposes, premiums paid on insurance or annuity contracts for benefit of employees, 9 A.L.R.2d 280.
Income tax: market value as ascribable to agreement to pay a life annuity to another for purpose of determining capital gain or loss, 12 A.L.R.2d 589.