2020 Georgia Code
Title 48 - Revenue and Taxation
Chapter 7 - Income Taxes
Article 2 - Imposition, Rate, and Computation; Exemptions
- § 48-7-20. (For Effective Date, See note.) Individual Tax Rate; Tax Table; 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. Definitions; 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; When Taxable Year of Beneficiary Differs From That of Estate or Trust; 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; When Taxable Year of Partner Differs From That of Partnership
- § 48-7-24. Nonresident Members of Resident Partnerships; Resident Members of Nonresident Partnerships
- § 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 Benefit
- § 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. Retrofitting Certain Single-Family Homes With Accessibility Features
- § 48-7-29.2. Tax Credit for Qualified Caregiving Expenses
- § 48-7-29.3. Tax Credit for Federal Qualified Transportation Fringe Benefits
- § 48-7-29.4. Tax Credit for Disaster Assistance Funds Received; Rules and Regulations
- § 48-7-29.5. Tax Credit for Private Driver Education Courses of Minors; Required Documentation; Rules and Regulations
- § 48-7-29.6. Tax Credit for Qualified Low-Income Building
- § 48-7-29.7. Tax Credit for Depository Financial Institutions
- § 48-7-29.8. (Effective Until December 31, 2021) Tax Credits for the Rehabilitation of Historic Structures; Conditions and Limitations
- § 48-7-29.8. (Effective After December 31, 2021) Tax Credits for the Rehabilitation of Historic Structures; Conditions and Limitations
- § 48-7-29.9. Tax Credit for Qualified Life Insurance Premiums for National Guard and Air National Guard Members
- § 48-7-29.10. Credit for Qualified Child and Dependent Care Expenses; Carryover of Credit Prohibited
- § 48-7-29.11. Income Tax Credits for Teleworking; Definitions; Powers and Duties
- § 48-7-29.12. Tax Credit for Qualified Donation of Real Property; Carryover of Credit; Appraisals; Transfer of Credit; Penalty
- § 48-7-29.13. Tax Credit for Qualified Health Insurance Expenses
- § 48-7-29.14. Income Tax Credit for Clean Energy Property
- § 48-7-29.15. Tax Credit for Adoption of Foster Child
- § 48-7-29.16. Qualified Education Tax Credit
- § 48-7-29.17. Tax Credit for Purchase of One Eligible Single-Family Residence
- § 48-7-29.18. Tax Credit 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 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
- § 48-7-29.22. (Repealed Effective December 31, 2023) Tax Credit for Preceptor Rotations; Implementation; Regulation; Expiration
- § 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. Job Tax Credit for Ppe Manufacturers
- § 48-7-40.2. Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 1 Counties; Conditions and Limitations
- § 48-7-40.3. Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties; Conditions and Limitations
- § 48-7-40.4. Tax Credits for Existing Manufacturing and Telecommunications Facilities or Manufacturing and Telecommunications Support Facilities in Tier 3 or 4 Counties; Conditions and Limitations
- § 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; Conditions and Limitations
- § 48-7-40.8. Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties; Conditions and Limitations
- § 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; Conditions and Limitations
- § 48-7-40.10. Tax Credit for Water Conservation Facilities and Qualified Water Conservation Investment Property
- § 48-7-40.11. Tax Credit for Shift From Ground-Water Usage
- § 48-7-40.12. Tax Credit 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; Conditions and Limitations
- § 48-7-40.15A. Additional Job Tax Credit Based on Increase in Port Traffic; Conditions and Limitations
- § 48-7-40.16. Income Tax Credits for Low-Emission Vehicles
- § 48-7-40.17. Establishing or Relocating Quality Jobs; Tax Credit
- § 48-7-40.18. Tax Credit for Businesses Headquartered in State; Full-Time Jobs
- § 48-7-40.19. Diesel Particulate Emission Reduction Technology Equipment; Tax Credit
- § 48-7-40.20. Credit Against Taxes 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. Credit to 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. Conditions for Taking Job Tax Credit by Business Enterprises; Calculating Credit
- § 48-7-40.25. Conditions for Credit for Business Enterprises With Existing Manufacturing Facilities; Calculating Credit
- § 48-7-40.26. (For Effective Date, See note.) Tax Credit for Film, Gaming, Video, or Digital Production in State
- § 48-7-40.26A. Tax Credit for Postproduction Expenditures
- § 48-7-40.27. Tax Credit for Qualified Investments
- § 48-7-40.28. Limitation on Credit for Qualified Investment Tax Credit
- § 48-7-40.29. (For Effective Date, See note.) Income Tax Credits for Certain Qualified Equipment That Reduces Business or Domestic Energy or Water Usage
- § 48-7-40.30. Income Tax Credit for Certain Qualified Investments for Limited Period of Time
- § 48-7-40.31. Income Tax Credit for Employing Qualified Parolee
- § 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. Tax Credit for Class Iii Railroads; Reporting
- § 48-7-40.35. Credit for Qualified Employers; Conditions and Limitations to Credit; Requirements for Being Qualified Employer
- § 48-7-40.36. Income Tax Credits for Timber Producers Incurring Losses From Hurricane Michael
- § 48-7-41. Basic Skills Education Program Credits
- § 48-7-42. Affiliated Entity Defined; Assignment of Corporate Income Tax Credit; Carryover of Unused Credit; Joint and Severable Liability
- 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.
