602-ES: Corporate and Partnership Estimated Tax (2024)
Georgia · Georgia DOR · Used for tax years 2024
Georgia Form 602-ES includes a worksheet and payment voucher for corporate and partnership estimated tax. The worksheet calculates estimated tax and installment payments using expected taxable income and credits, and the voucher identifies the business, tax period and payment amo
Who files this form
Form 602-ES is for corporate and partnership estimated tax payments.
The form specifically says it should be used by:
- Corporations required to file estimated tax for a short taxable period or whose accounting period has changed.
- Partnerships and Subchapter S corporations that make, or plan to make, the irrevocable election to pay tax at the entity level.
If your entity must pay estimated tax in the corporate manner, the form directs you to the Estimated Income Tax page in the IT-611 Tax Booklet.
When it's due
For tax year 2024, the worksheet lists these first-payment due dates and installment calculations:
- April 15, 2024: Enter one-fourth of line 5.
- June 15, 2024: Enter one-third of line 5.
- September 15, 2024: Enter one-half of line 5.
- December 15, 2024: Enter the full amount of line 5.
If a due date falls on a weekend or holiday, payment is due on the next day that is not a weekend or holiday.
Corporations with a fiscal year ending after January 1 must file on corresponding dates. Corporations filing for a short taxable period or a changed accounting period should change the applicable dates to match the short period.
What you'll need
Have the following information ready to complete the worksheet and voucher:
- Your business name, address, FEI number and telephone number.
- The return type, tax year, year-ending date and payment due date.
- Expected taxable income for the current year and applicable credits.
- Any 2023 overpayment credit elected on Form 600, 600S or 700.
- Your payment amount.
For mailing, use a signed and dated payment voucher with a valid scanline and a check or money order payable to Georgia Department of Revenue. Keep the worksheet and instructions with your records.
How to file
- Complete the worksheet to create your payment voucher. Calculate estimated tax as 5.39% of expected taxable income, then subtract credits and any elected 2023 overpayment credit. The unpaid balance cannot be less than zero.
- Select the applicable installment calculation and enter the payment amount.
- Click the “Print” button to print the completed 602-ES payment voucher. Use a voucher with a valid scanline.
- Sign and date the voucher, then cut it along the dotted line.
- Make your check or money order payable to Georgia Department of Revenue.
- Mail only the voucher and payment to:
Processing Center
Georgia Department of Revenue
PO Box 105136
Atlanta, GA 30348-5136
Do not mail the worksheet. Do not fold, staple or paper clip mailed items, and remove all check stubs.
Common mistakes
- Mailing the worksheet: Keep the worksheet and instructions with your records. Mail only the payment voucher and payment.
- Folding or fastening mailed items: Do not fold, staple or paper clip them. Remove all check stubs.
- Using a voucher without a valid scanline: The form specifically requires a valid scanline.
- Failing to pay or underpaying estimated tax: The form warns that failure to comply may result in a penalty of 5% of the income tax for failure to pay estimated tax and a charge of 9% per year for underpayment. It refers you to Form 600UET and the IT-611 Tax Booklet for more information.
Questions people ask
Can a partnership or S corporation use Form 602-ES?
Yes. The form says a partnership or Subchapter S corporation should use it if it makes, or plans to make, the irrevocable election to pay tax at the entity level.
Can I apply an overpayment from 2023?
The worksheet allows a credit for a 2023 overpayment if you elected that credit on Form 600, 600S or 700.
Should I mail the worksheet with my payment?
No. Keep the worksheet and instructions with your records. Mail only the signed and dated voucher and your payment.
What if a payment due date falls on a weekend or holiday?
Payment is due on the next day that is not a weekend or holiday.
What if my corporation has a short taxable year?
Corporations required to file estimated tax for a short taxable period, or whose accounting period has changed, should use Form 602-ES and change the applicable dates to match the short period.