Georgia Code, Title 48, Chapter 7, Article 2 - Imposition, Rate, and Computation; Exemptions

• § 48-7-20 - Individual Tax Rate; Tax Table; Credit for Withholding and Other Payments; Applicability to Estates and Trusts
  (a) A tax is imposed upon every resident of this state with respect to the Georgia taxable net income of the taxpayer as defined...
• § 48-7-21 - Taxation of Corporations
  (a) Every domestic corporation and every foreign corporation shall pay annually an income tax equivalent to 6 percent of its Georgia taxable net income....
• § 48-7-21.1 - Definitions; Compensation Paid by Taxpayer Disallowed As Business Expense; Applicability
  (a) As used in this Code section, the term: (1) "Authorized employee" means any individual whose hiring for employment or continuing employment in the...
• § 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
  (a) The tax imposed by this chapter shall be: (1) Imposed upon resident fiduciaries and upon nonresident fiduciaries: (A) Receiving income from business done...
• § 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
  The net income of a partnership shall be computed in the same manner and on the same basis as in the case of an...
• § 48-7-24 - Nonresident Members of Resident Partnerships; Resident Members of Nonresident Partnerships
  (a) When one or more of the individual members of a partnership doing business in this state are nonresidents of this state, the nonresidents...
• § 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
  (a) The following organizations shall be exempt from taxation imposed by Code Section 48-7-21 as indicated: (1) Subject to subsections (b) and (c) of...
• § 48-7-26 - Personal Exemptions
  (a) As used in this Code section, the term "dependent" shall have the same meaning as in the Internal Revenue Code of 1986.(b) (1)...
• § 48-7-27 - Computation of Taxable Net Income
  (a) Georgia taxable net income of an individual shall be the taxpayer's federal adjusted gross income, as defined in the United States Internal Revenue...
• § 48-7-28 - Reciprocity
  A resident individual who has an established business in another state, has investment in property having a taxable situs in another state, or engages...
• § 48-7-28.1 - Tax Benefit
  (a) If a taxpayer repays in the current tax year certain amounts of income that were subject to tax under this chapter in a...
• § 48-7-28.2 - Employer Social Security Credits
  (a) As used in this Code section, the term "employer social security credit" means the employer social security credit defined in Section 45B(a) of...
• § 48-7-28.3 - Expenses From Transactions With Related Members
  (a) As used in this Code section, the term: (1) "Comprehensive income tax treaty" means a convention or agreement, entered into by the United...
• § 48-7-28.4 - Adjustments to Taxes; Disallowing Expenses Paid to Certain Real Estate Investment Trusts; Procedures, Conditions, and Limitations
  (a) As used in this Code section, the term: (1) "Association taxable as a corporation" does not include: (A) A real estate investment trust...
• § 48-7-29 - Tax Credits for Rural Physicians
  (a) As used in this Code section, the term: (1) "Rural county" means a county in this state that has 65 persons per square...
• § 48-7-29.1 - Retrofitting Certain Single-Family Homes With Accessibility Features
  (a) As used in this Code section, the term: (1) "Accessibility features" means: (A) One no-step entrance allowing access into the residence; (B) Interior...
• § 48-7-29.2 - Tax Credit for Qualified Caregiving Expenses
  (a) As used in this Code section, the term: (1) "Qualified caregiving expenses" means payments by the taxpayer for home health agency services, personal...
• § 48-7-29.3 - Tax Credit for Federal Qualified Transportation Fringe Benefits.
  (a) As used in this Code section, the term "federal qualified transportation fringe benefit" means only the following transportation benefits provided by an employer...
• § 48-7-29.4 - Tax Credit for Disaster Assistance Funds Received; Rules and Regulations
  (a) A taxpayer who receives disaster assistance during a taxable year from the Georgia Emergency Management Agency or the Federal Emergency Management Agency shall...
• § 48-7-29.5 - Tax Credit for Private Driver Education Courses of Minors; Required Documentation; Rules and Regulations
  (a) A taxpayer shall be allowed a credit against the tax imposed by Code Section 48-7-20 with respect to the amount expended by such...
• § 48-7-29.6 - Tax Credit for Qualified Low-Income Building
  (a) As used in this Code section, the term: (1) "Federal housing tax credit" means the federal tax credit as provided in Section 42...
• § 48-7-29.7 - Tax Credit for Depository Financial Institutions
  (a) There shall be a dollar-for-dollar credit against the state income tax liability of depository financial institutions which shall be equal to the amount...
• § 48-7-29.8 - (for Effective Date, See Note.) Tax Credits for the Rehabilitation of Historic Structures; Conditions and Limitations
  (a) (For effective date, see note.) As used in this Code section, the term: (1) "Certified rehabilitation" means repairs or alterations to a certified...
• § 48-7-29.9 - Tax Credit for Qualified Life Insurance Premiums for National Guard and Air National Guard Members
  (a) As used in this Code section, the term: (1) "Active duty" means full-time duty in the United States armed forces, other than active...
• § 48-7-29.10 - Credit for Qualified Child and Dependent Care Expenses; Carryover of Credit Prohibited
  (a) A taxpayer shall be allowed a credit against the tax imposed by Code Section 48-7-20 for qualified child and dependent care expenses. Such...
• § 48-7-29.11 - Income Tax Credits for Teleworking; Definitions; Powers and Duties
  (a) As used in this Code section, the term: (1) "Eligible telework expenses" means expenses incurred during the calendar year pursuant to a telework...
• § 48-7-29.12 - Tax Credit for Qualified Donation of Real Property; Carryover of Credit; Appraisals; Transfer of Credit; Penalty
  (a) As used in this Code section, the term: (1) "Conservation easement" means a nonpossessory interest in real property imposing limitations or affirmative obligations,...
• § 48-7-29.13 - Tax Credit for Qualified Health Insurance Expenses
  (a) As used in this Code section, the term: (1) "Qualified health insurance" means a high deductible health plan as defined by Section 223...
• § 48-7-29.14 - Income Tax Credit for Clean Energy Property
  (a) As used in this Code section, the term: (1) "Authority" means the Georgia Environmental Finance Authority. (2) "Business property" means tangible personal property...
• § 48-7-29.15 - Tax Credit for Adoption of Foster Child
  (a) As used in this Code section, the term "qualified foster child" means a foster child who is less than 18 years of age...
• § 48-7-29.16 - Qualified Education Tax Credit
  (a) As used in this Code section, the term: (1) "Eligible student" shall have the same meaning as in paragraph (1) of Code Section...
• § 48-7-29.17 - Tax Credit for Purchase of One Eligible Single-Family Residence
  (a) As used in this Code section, the term "eligible single-family residence" means: (1) A single-family structure, including a condominium unit as defined in...
• § 48-7-29.18 - Tax Credit for Purchasers of Alternative Fuel for Heavy Duty and Medium Duty Vehicles
  (a) As used in this Code section, the term: (1) "Affiliated entity" means a person or business entity that is a member of the...
• § 48-7-29.19 - Procedures, Conditions, and Limitations on Amount of Tax Credits for Purchasers of Alternative Fuel Vehicles
  (a) A taxpayer seeking to claim a tax credit under the provisions of Code Section 48-7-29.18 shall submit an application to the commissioner for...
• § 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
  (a) The tax imposed by this chapter shall apply to the entire net income of a taxable nonresident derived from employment, trade, business, professional,...
• § 48-7-31 - Taxation of Corporations; Allocation and Apportionment of Income; Formula for Apportionment
  (a) The tax imposed by this chapter shall apply to the entire net income, as defined in this article, received by every foreign or...
• § 48-7-31.1 - Conditions for Allocating Taxpayer's Income Pursuant to Agreement; Public Inspection; Criteria for Evaluating Proposals
  (a) For purposes of paragraphs (1) and (2) of subsection (d) of Code Section 48-7-31, the commissioner may enter into an agreement with a...
• § 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
  (a) When the business of any corporation engaged in the operation of a railroad, express service, telephone or telegraph business, or other form of...
• § 48-7-33 - Annual Accounting Periods
  (a) The net income shall be computed upon the basis of the taxpayer's annual accounting period in accordance with the method of accounting regularly...
• § 48-7-34 - Returns of Corporations and Nonresidents Based Upon Books of Account; Application to Commissioner; Time; Contents
  If any corporation or nonresident employs in its books of account a detailed allocation of receipts and expenditures which reflects more clearly than the...
• § 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
  If any corporation or nonresident shows by any method of allocation other than the processes or formulas prescribed by this chapter that another method...
• § 48-7-36 - Tolling of Time Limits for Filings by Reason of War Related Service in Armed Forces
  In the case of an individual: (1) Serving in the armed forces of the United States or in support of the armed forces of...
• § 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
  In the case of any individual who dies while in active service as a member of the armed forces of the United States, if...
• § 48-7-38 - Deduction for Payments to Minority Subcontractors; Certification As Minority Subcontractor
  (a) As used in this Code section, the term: (1) "Member of a minority" means an individual who is: (A) Black; (B) Hispanic; (C)...
• § 48-7-39 - Depreciation of Property Placed in Service in Prior Tax Years
  (a) With respect to property placed in service in taxable years ending prior to March 11, 1987, a taxpayer shall in his return for...
• § 48-7-40 - Designation of Counties As Less Developed Areas; Tax Credits for Certain Business Enterprises
  (a) As used in this Code section, the term: (1) "Broadcasting" means the transmission or licensing of audio, video, text, or other programming content...
• § 48-7-40.1 - Tax Credits for Business Enterprises in Less Developed Areas
  (a) As used in this Code section, the term: (1) "Broadcasting" means the transmission or licensing of audio, video, text, or other programming content...
• § 48-7-40.2 - Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 1 Counties; Conditions and Limitations
  (a) As used in this Code section, the term: (1) "Product" means a marketable product or component of a product which has an economic...
• § 48-7-40.3 - Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties; Conditions and Limitations
  (a) As used in this Code section, the term: (1) "Product" means a marketable product or component of a product which has an economic...
• § 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
  (a) As used in this Code section, the term: (1) "Product" means a marketable product or component of a product which has an economic...
• § 48-7-40.5 - Tax Credits for Employers Providing Approved Retraining Programs
  (a) As used in this Code section, the term: (1) "Approved retraining" means employer provided or employer sponsored retraining that meets the following conditions:...
• § 48-7-40.6 - Tax Credits for Employers Providing Child Care
  (a) As used in this Code section, the term: (1) "Cost of operation" means reasonable direct operational costs incurred by an employer as a...
• § 48-7-40.7 - Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 1 Counties; Conditions and Limitations
  (a) As used in this Code section, the term: (1) "Machinery and equipment" means all tangible personal property used, directly or indirectly, to move,...
• § 48-7-40.8 - Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties; Conditions and Limitations
  (a) As used in this Code section, the term: (1) "Machinery and equipment" means all tangible personal property used, directly or indirectly, to move,...
• § 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
  (a) As used in this Code section, the term: (1) "Machinery and equipment" means all tangible personal property used, directly or indirectly, to move,...
• § 48-7-40.10 - [Effective Until December 31, 2016] Tax Credit for Water Conservation Facilities and Qualified Water Conservation Investment Property
  (a) As used in this Code section, the term: (1) "Machinery and equipment" means all tangible personal property used directly in a minimum 10...
• § 48-7-40.11 - [Effective Until December 31, 2016] Tax Credit for Shift From Ground-Water Usage
  (a) As used in this Code section, the term: (1) "Qualified water conservation facility" means any facility including buildings, machinery, and equipment used in...
• § 48-7-40.12 - Tax Credit for Qualified Research Expenses
  (a) As used in this Code section, the term: (1) "Base amount" means the product of a business enterprise's Georgia gross receipts in the...
• § 48-7-40.13 - "Business Enterprise" Defined; Tax Credit
  Reserved. Repealed by Ga. L. 2005, p. 1125, § 1/HB 539, effective May 9, 2005.
• § 48-7-40.14 - Calculation of New Full-Time Jobs
  Notwithstanding any provision to the contrary of Code Sections 48-7-40 and 48-7-40.1, business enterprises may make a one-time election to calculate new full-time jobs...
• § This - Section Has More Than One Document With Varying Effective Dates.
  § 48-7-40.15. Alternative tax credits for base year port traffic increases; conditions and limitations (a) As used in this Code section, the term: (1)...
• § 48-7-40.16 - Income Tax Credits for Low-Emission Vehicles
  (a) As used in this Code section, the term: (1) "Alternative fuel" means methanol, denatured ethanol, and other alcohols; mixtures containing 85 percent or...
• § 48-7-40.17 - Establishing or Relocating Quality Jobs; Tax Credit
  (a) As used in this Code section, the term: (1) "Average wage" means the average wage of the county in which a new quality...
• § 48-7-40.18 - Tax Credit for Businesses Headquartered in State; Full-Time Jobs
  (a) Any business enterprise, as defined in Code Section 48-7-40, executing an agreement pursuant to subsection (a) of Code Section 48-7-31.1 for purposes of...
• § 48-7-40.19 - Diesel Particulate Emission Reduction Technology Equipment; Tax Credit
  (a) As used in this Code section, the term: (1) "Commercial motor vehicle" means a motor vehicle designed or used to transport property and...
• § 48-7-40.20 - Credit Against Taxes for Businesses Engaged in Manufacturing Cigarettes for Exportation; Amount; Required Information
  (a) As used in this Code section, the term: (1) "Base year exportation volume" means the number of cigarettes manufactured and exported by a...
• § 48-7-40.21 - Tax Credits for Existing Business Enterprises Undergoing Qualified Business Expansion; Recapture; Application of Credit
  (a) As used in this Code section, the term: (1) "Broadcasting" means the transmission or licensing of audio, video, text, or other programming content...
• § 48-7-40.22 - Credit to Business Enterprises for Leased Motor Vehicles; Daily Ridership; Implementation
  (a) As used in this Code section, the term: (1) "Broadcasting" means the transmission or licensing of audio, video, text, or other programming content...
• § 48-7-40.23 - Election to Count New Jobs on Calendar Year Basis
  Notwithstanding any provision to the contrary of Code Sections 48-7-40 and 48-7-40.1, business enterprises may apply to the commissioner to make a one-time election...
• § 48-7-40.24 - Conditions for Taking Job Tax Credit by Business Enterprises; Calculating Credit
  (a) As used in this Code section, the term: (.1) "Affiliate" means the members of a business enterprise's affiliated group within the meaning of...
• § 48-7-40.25 - Conditions for Credit for Business Enterprises With Existing Manufacturing Facilities; Calculating Credit
  (a) As used in this Code section, the term: (1) "Business enterprise" means any business or the headquarters of any such business which is...
• § 48-7-40.26 - Tax Credit for Film, Video, or Digital Production in State
  (a) This Code section shall be known and may be cited as the "Georgia Entertainment Industry Investment Act."(b) As used in this Code section,...
• § 48-7-40.27 - Tax Credit for Qualified Investments
  (a) As used in this Code section, the term: (1) "Credit" means a state income tax credit against the tax imposed pursuant to this...
• § 48-7-40.28 - Limitation on Credit for Qualified Investment Tax Credit
  (a) As used in this Code section, the term: (1) "Credit" means a state income tax credit against the tax imposed pursuant to this...
• § 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
  (a) As used in this Code section, the term: (1) "Cost" means the aggregate funds actually invested and expended by a taxpayer to put...
• § 48-7-40.30 - Income Tax Credit for Certain Qualified Investments for Limited Period of Time
  (a) The General Assembly finds that entrepreneurial businesses significantly contribute to the economy of this state. The intent of this Code section is to...
• § 48-7-41 - [Effective Until January 1, 2020] Basic Skills Education Program Credits
  (a) As used in this Code section, the term: (1) "Adult basic skills education" means training that enhances reading, writing, or mathematical skills of...
• § 48-7-42 - Affiliated Entity Defined; Assignment of Corporate Income Tax Credit; Carryover of Unused Credit; Joint and Severable Liability
  (a) As used in this Code section, the term "affiliated entity" means: (1) A corporation that is a member of the taxpayer's "affiliated group"...

Last modified: October 14, 2016