600: Corporation Income Tax Return (2024)
Georgia · Georgia DOR · Used for tax years 2024
Georgia Form 600 is a corporation tax return for reporting 2024 income tax and 2025 net worth tax. It calculates Georgia taxable income, taxable net worth, credits, payments, and any tax due or overpayment.
What you'll need
- Federal return and supporting schedules: Attach a copy when filing on paper.
- Corporation information: Have the corporation’s FEIN, address, incorporation details, business type, and applicable Georgia tax account numbers available.
- Income and net worth figures: The form asks for federal taxable income, capital stock, paid-in or capital surplus, and retained earnings.
- Supporting schedules, if applicable: Attach schedules for passive or capital loss deductions, other additions and subtractions, and allocated income. Attach IT-Addback or IT-REIT when claiming the corresponding expense exception.
- Loss and credit details, if applicable: Schedule 9 asks for loss years, amounts, prior use, and remaining losses. Credit schedules ask for credit codes, amounts, company names, ID numbers, and credit certificate numbers when applicable.
- Extension documentation: Attach a copy of the federal extension request or Form IT-303 if requesting an extension.
- Final return explanation: Attach an explanation if marking the return as final.
How to file
Complete the applicable schedules and the officer signature, title, and date fields. The form also has fields for the preparer’s signature and identifying information.
Paper filing: Attach the federal return and supporting schedules. Mail the return to:
Georgia Department of Revenue
Processing Center
PO Box 740397
Atlanta, Georgia 30374-0397
Make checks payable to Georgia Department of Revenue.
Electronic filing for credits: The form requires credits on Schedules 10, 10B, and 11 to be filed electronically. The supplied text does not give an electronic filing website or submission steps.
Common mistakes
- Applying Schedule 10 credits to net worth tax: These credits may reduce income tax liability only.
- Rounding the ratios: Schedules 6 and 8 say not to round and to compute the ratios to six decimal places.
- Omitting extension documentation: The form says no filing extension will be allowed unless a federal extension request or Form IT-303 is attached.
- Skipping an unused carryover credit: Complete a separate credit schedule for each credit code, including an eligible carryover even if it is not used this year.
- Overstating credit carryovers: Before applying a carryover to the next tax year, reduce it by amounts elected for withholding and by expired carryovers.
- Treating a purchased Timber Tax Credit as refundable: Use Schedule 10, not Schedule 10B, for a purchased Timber Tax Credit.
- Selecting multiple loss types: Schedule 9 says to select only one current-year NOL type.
Questions people ask
Which tax years does this form cover?
The form is labeled as a 2024 income tax return and a 2025 net worth tax return.
What income tax rate appears on the form?
Schedule 1, line 10 calculates income tax by multiplying the taxable income on line 9 by 5.39%.
Can I receive my refund by direct deposit?
Yes. The form offers direct deposit for U.S. accounts only and asks for a routing number, account number, and checking or savings selection. If direct deposit is not selected, a paper check will be issued.
Do I need a separate schedule for each credit code?
Yes. Schedules 10 and 10B require a separate schedule for each credit code. They also require a schedule for a credit eligible for carryover to the current tax year, even if it is not used that year.
Who uses Schedule 8?
Schedule 8, which calculates the Georgia net worth ratio, is marked for use by foreign corporations only.