2015 Corporation Income Tax General Instructions - Georgia Department Of Revenue (Page 14 of 24) in pdf

CORPORATION ESTIMATED INCOME TAX INSTRUCTIONS

CORPORATIONS THAT MUST FILE ESTIMATED TAX

Every domestic or foreign corporation subject to taxation in Georgia shall pay estimated tax for the taxable year

if its net income for such taxable year can reasonably be expected to exceed Twenty-Five Thousand Dollars

($25,000.00).

All corporate income tax must be paid directly to the Georgia Department of Revenue. The estimated tax shall

be paid on the specified dates so as to effect payment in full of the estimated tax by the 15th day of the twelfth

month of the taxable year.

If the requirements to file estimated tax under Code Section 48-7-117 are first met as shown in the left-hand

column of the following table, then the estimated tax shall be due as shown in the remaining columns.

Failure to comply with the provisions of the law may result in a penalty of 5% of the income tax for failure to

pay estimated tax and a charge at a rate of 9% per annum for underpayment of estimated tax. Compute the

9% penalty on Form 600 UET and check the “UET Annualization Exception attached” box if an exception ap-

plies and attach the 600 UET to the return . Enter penalty from 600 UET on schedule 3 line 8 of Form 600.

4th MONTH

6th MONTH

9th MONTH

12th MONTH

The following percentages of estimated tax shall

be paid on or before the fifteenth day of the:

OF THE

TAXABLE

YEAR

25%

Before the first day of the fourth month of the taxable year.

After the last day of the third month and before the first day

1/3

of the sixth month of the taxable year.

50%

After the last day of the fifth month and before the first day

of the ninth month of the taxable year.

100%

After the last day of the eighth month and before the first

day of the twelfth month of the taxable year.

NEW ESTIMATED TAX FILERS

If you determine that you are required to file estimated tax, mail your initial payment along with Form 602ES.

The estimated tax worksheet is on the Form 602ES. Include your corporate name, address, telephone number,

Federal Employer Identification Number, and the taxable year. For more information, contact the Department at

1-877-423-6711.

Form 602ES should be mailed to State of Georgia, Department of Revenue, P.O. Box 105136, Atlanta, Georgia

30348-5136. Check or money order for payment of tax should be made payable to Georgia Department of Revenue.

Include your Federal Employer Identification Number on your check or money order.

ELECTRONIC PAYMENT

In accordance with O.C.G.A. § 48-2-32(f)(2), corporate estimate taxpayers with quarterly payments of more than

$10,000 must pay via electronic funds transfer. A penalty of 10% will be added if the payment is not submitted

electronically through GTC.

As of October 2010, you may pay corporate income and estimated taxes using Georgia Tax Center (GTC). This

intergrated tax system gives corporate taxpayers the ability to pay the tax via a secure internet connection.

Please visit the GTC website at https://gtc.dor.ga.gov for more infromation. You may also contact the Electronic

Services Group at 1-877-423-6711.

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2015 Corporation Income Tax General Instructions - Georgia Department Of Revenue Page 14

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