600-UET: Underpayment of Estimated Tax by Corporations (2024)
Georgia · Georgia DOR · Used for tax years 2024
Georgia Form 600-UET helps corporations, S corporations, and partnerships determine whether enough income tax was paid throughout the year through withholding or estimated tax installments. It calculates installment underpayments and any resulting penalty, and checks whether an e
Who files this form
Corporate taxpayers and passthrough entities electing to pay tax at the entity level may use Form 600-UET to check whether they paid enough income tax throughout the year through withholding or estimated tax installments.
The form helps determine whether an underpayment penalty applies or whether an exception avoids it. The text describes who may use the form, but does not state a mandatory filing requirement.
When it's due
For tax year 2024, calendar-year taxpayers required to file Form 602ES generally must file estimated tax by April 15 and pay in four installments. The printed chart lists these payment dates based on when the requirements are first met:
| Requirements first met in 2024 | Payment due in 2024 | Maximum installments |
| --- | --- | --- |
| January 1 through March 31 | April 15 | 4 |
| April 1 through May 31 | June 15 | 3 |
| June 1 through August 31 | September 15 | 2 |
| On or after September 1 | December 15 | 1 |
If a listed date falls on a Saturday, Sunday, or legal holiday, use the next regular workday.
Fiscal-year taxpayers should contact the Department at 1-877-423-6711 for information about the estimated tax underpayment penalty.
What you'll need
Have these records and figures available to complete the form:
- The corporation name and ID number.
- Current-year tax and credits used from the specified lines of Form 600, Form 600S, or Form 700.
- The immediately preceding year's tax return. For Line 4, that return must cover a 12-month period.
- Estimated tax payment amounts and payment dates, plus tax withheld.
- Taxable income for the relevant periods if using the annualized current-year income exception.
If you made more than one payment for an installment, attach a separate computation for each payment.
How to file
Complete Lines 1 through 5 to begin figuring the underpayment, then calculate the required installments and compare them with payments and withholding.
Check whether the annualized current-year income exception avoids the penalty. For installments not covered by an exception, complete Lines 15 through 19.
Enter the penalty amount on the applicable return:
- Form 600, Schedule 3, Line 9A.
- Form 600S, Schedule 4, Line 8A.
- Form 600-T, Schedule 2, Line 8.
- Form 700, Schedule 3, Line 8.
Attach a separate computation for each payment if you made multiple payments for an installment. The supplied text does not provide a mailing address or e-filing instructions.
Common mistakes
- Using a prior-year return that does not cover 12 months for Line 4. The form requires a 12-month return.
- Assigning withholding unevenly across quarters. The form says to treat withholding as equally paid each quarter.
- Forgetting an earlier installment's overpayment. Instruction E explains how to apply the excess on Line 10; enter zero if there is no excess.
- Leaving out separate computations when more than one payment was made for an installment.
- Overlooking the weekend and holiday rule. Use the next regular workday when a listed due date falls on a Saturday, Sunday, or legal holiday.
Questions people ask
What penalty rate does the form use?
The form uses 9 percent a year on the underpaid amount, based on the number of days shown on Line 17.
Can annualized income help avoid a penalty?
Yes. The exception applies if current-year tax payments equal or exceed 70 percent of the tax on annualized taxable income for the period from the start of the year through the month before an installment is due.
How do I annualize taxable income?
Figure taxable income from the start of the tax year through the month before the installment is due. Multiply that income by 12, then divide by the number of months in that period.
How is withholding counted?
The form treats tax withheld as equally paid for each quarter.
What if my business uses a fiscal year?
The instructions tell fiscal-year taxpayers to contact the Department at 1-877-423-6711 for information about the estimated tax underpayment penalty.