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Fill a Valid Georgia 700 Template

Name: Free Georgia 700 Form ⋆ PDF Template
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The Georgia Form 700 is the Partnership Tax Return used by partnerships operating in Georgia to report their income and calculate their tax obligations. This form requires detailed information about the partnership, including federal employer identification numbers, income allocation, and partner details. Accurate completion of the Georgia Form 700 is essential for compliance with state tax regulations.

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Contents

The Georgia Form 700 serves as a crucial document for partnerships operating within the state, specifically designed for reporting income and tax obligations. This form is not only utilized for the original tax return but also accommodates amended and final returns, ensuring that partnerships can accurately reflect their financial status. Essential information required on the form includes the partnership's federal employer identification number, Georgia withholding tax numbers, and sales tax registration details. Additionally, partnerships must disclose their business type, the date they began operations in Georgia, and the method of accounting used, whether cash, accrual, or other. The form also requires a detailed computation of Georgia net income, including total income, allocated income, and business income subject to apportionment. Partnerships must provide a declaration affirming the accuracy of the information submitted, and they are encouraged to attach relevant schedules and documentation to support their claims. Understanding the nuances of the Georgia Form 700 is vital for compliance and ensuring that partnerships fulfill their tax responsibilities effectively.

Georgia 700 Example

Georgia Form 700 (Rev. 10/14)

Partnership Tax Return

2014 Income Tax Return

BeginningEnding

Original Return

Amended Return

Final Return

Name Change

Address Change

Page 1

Composite Return Filed

A. Federal Employer Id. No.

Name

Location of Books for Audit (City) & (State)

B. GA. Withholding Tax Numbers

Number and Street

Country

Telephone Number

Payroll WH Number

Nonresident WH Number

C. GA. Sales Tax Reg. No.

City or Town

State

Zip Code

D. Name (if different from last year’s return)

Number and Street (if different from last year’s return)

City

State

Zip Code

If no return was filed last year, state the reason why

E. NAICS Code

F. Kind of Business

G. Date began doing

H. Basis of this return

business in GA

( ) CASH ( ) ACCRUAL ( ) OTHER

I. Indicate latest taxable year

J. Number of Partners

K. Do you have Nonresident

L. Number of Nonresident

M. Amount of Nonresident

adjusted by the IRS

Partners?

Partners

Withholding paid for tax year

( ) Yes or ( ) No

COMPUTATION OF GEORGIA NET INCOME

(ROUND TO NEAREST DOLLAR)

SCHEDULE 1

Total Income for Georgia purposes (Line 12, Schedule 7)

Income allocated everywhere (Attach Schedule)

............................................................

Business income subject to apportionment (Line 1 less Line 2)

..................................

Georgia ratio (Schedule 6, Column C)

Net business income apportioned to Georgia (Line 3 x Line 4)

Net income allocated to Georgia (Attach Schedule)

Total Georgia net income (Add Line 5 and Line 6)

Copy of the Federal Return and supporting Schedules must beattached. Otherwise this return shall be deemed incomplete.

DECLARATION

I/We declare under the penalties of perjury that I/we have examined this return (including accompanying schedules and statements) and to the best of my/our knowledge and belief it is true, correct, and complete. If prepared by a person other than taxpayer, this declaration is based on all information of which the preparer has any knowledge.

MAIL TO: Georgia Department of Revenue, Processing Center, PO Box 740315, Atlanta, Georgia 30374-0315

Signature of Partner (Must be signed by partner)

Signature of Preparer other than partner or member

I authorize the Georgia Department of Revenue to electronically notify me at the below e-mail address regarding any updates to my account(s).

Email Address	Preparer’s Firm Name

Date	Preparer’s SSN or PTIN	Date

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Georgia Form 700/2014

Page 2

(Partnership) Name		FEIN
(Partnership) Name		FEIN
GEORGIA TAX CREDITS	(ROUND TO NEAREST DOLLAR)		SCHEDULE 2

These are for information purposes only and do not affect Schedules 1 or 3-7. See Pages 9 through 14 of the instructions for a list of available credits and their applicable codes. You must list the appropriate credit type code in the area provided. If you claim more than ten credits, enclose a schedule. Enter the schedule total on Line 11. List the percentage of credit claimed in the percent (%) column.

Credit Type Code		Company Name	FEIN	%		Amount of Credit

1.					1.

2.					2.

3.					3.

4.					4.

5.					5.

6.					6.

7.					7.

8.					8.

9.					9.

10.					10.

11.	Enter the total from attached schedule(s)				11.
12. TOTALALLOWABLE GEORGIATAXCREDITS FOR THEYEAR			.........................................		12.

Attach the appropriate form or a detailed schedule for each credit claimed (See pages 9-14 of the instructions for additional information)

	INCOME TO PARTNERS				(ROUND TO NEAREST DOLLAR)		SCHEDULE 3
		(1.) Name		(3.) City, State and Zip
		(2.) Street and Number		(4.) I.D. Number	Profit Sharing %		Georgia Source Income

			1.		5.		6.
	A		2.
	A		3.
			3.
			4.
			1.		5.		6.
	B		2.
	B		3.
			3.
			4.
			1.		5.		6.
	C		2.
	C		3.
			3.
			4.
			1.		5.		6.
	D		2.
	D		3.
			3.
			4.
			1.		5.		6.
	E		2.
	E		3.
			3.
			4.
	TOTAL

	ADDITIONS TO FEDERAL TAXABLE INCOME				(ROUND TO NEAREST DOLLAR)		SCHEDULE 4

1.	State and municipal bond interest other than Georgia or political subdivision thereof					1.
2.	Net income or net profits taxes imposed by taxing jurisdictions other than Georgia					2.
3.	Expenses attributable to tax exempt income					3.
	Schedule 4 continued on Page 3

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Georgia Form 700/2014

Page 3

(Partnership) Name				FEIN
(Partnership) Name				FEIN

	ADDITIONS TO FEDERAL TAXABLE INCOME		(ROUND TO NEAREST DOLLAR)			SCHEDULE 4 (continued)

4.		Federal deduction for income attributable to domestic production activities (IRC section 199)			4.

5.		Intangible expenses and related interest costs			5.

6.		Captive REIT expenses and costs			6.

7.		Other additions (Attach schedule)			7.

8.			..........................................................		8.
9. Total (Add Lines 1 through 8) Enter here and on Line 9, Schedule 7					9.

	SUBTRACTIONS FROM FEDERAL TAXABLE INCOME		(ROUND TO NEAREST DOLLAR)			SCHEDULE 5

1.Interest on obligations of United States (must be reduced by direct and indirect interest expenses)

2. Exception to intangible expenses and related interest cost (Attach IT-Addback)........

3. Exception to captive REIT expenses and costs (Attach IT-REIT)....................................

4. Other subtractions (Attach Schedule) ..............................................................................

7. Total (Add Lines 1 through 6) enter here and on Line 11, Schedule 7..........................

APPORTIONMENT OF INCOME	(ROUND TO NEAREST DOLLAR)	SCHEDULE 6
	A. WITHIN GEORGIA B. EVERYWHERE	C. DO NOT ROUND COL (A)/ COL (B)
		COMPUTE TO SIX DECIMALS
1. Gross receipts from business
2. Georgia Ratio (Divide Column A by Column B)


	COMPUTATION OF TOTAL INCOME FOR GEORGIA PURPOSES (ROUND TO NEAREST DOLLAR)			SCHEDULE 7
1.	Ordinary income (loss)			1.
2.	Net income (loss) from rental real estate activities		.......................................	2.
3.	a. Gross income from other rental activities		3a.
	b. Less expenses (attach schedule)		3b.
	c. Net income (loss) from other rental activities (Line 3a less Line 3b)			3c.
4.	Portfolio income (loss):	a. Interest Income		4a.
		b. Dividend Income		4b.
		c. Royalty Income		4c.
		d. Net short-term capital gain (loss)		4d.
		e. Net long-term capital gain (loss)		4e.
		f. Other portfolio income (loss)		4f.
5.	Guaranteed payments to partners			5.
6.	Net gain (loss) under Section 1231			6.
7.	Other Income (loss)			7.
8.	Total Federal income (add Lines 1 through 7)			8.
9.	Additions to Federal income (Schedule 4, Line 9)			9.
10.	Total (add Lines 8 and 9)	............................................................................................		10.
11.	Subtractions from Federal income (Schedule 5, Line 7)			11.
12.	Total income for Georgia purposes (Line 10 less Line 11)			12.

Other Required Federal Information

1.Salaries and wages (Form 1065) ...............................................................................

2.Taxes and licenses (Form 1065) ................................................................................

3.Section 179 deduction (Form 1065) ...........................................................................

4.Contributions (Form 1065) .......................................................................................

5.Investment interest expense (Form 1065) .................................................................

6.Section 59(e)(2) expenditures (Form 1065) ...............................................................

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Document Breakdown

Fact Name	Fact Description
Form Purpose	The Georgia Form 700 is used for filing partnership income tax returns in the state of Georgia.
Governing Law	This form is governed by the Official Code of Georgia Annotated (O.C.G.A.) § 48-7-20.
Filing Frequency	Partnerships must file the Form 700 annually, typically by April 15th of the following year.
Amended Returns	Taxpayers can file an amended return using Form 700 if corrections are needed after the original submission.
Required Attachments	Attachments include a copy of the federal return and supporting schedules; failure to include these renders the return incomplete.
Nonresident Partners	Partnerships with nonresident partners must report income and withholding amounts specific to those partners on the form.
Income Apportionment	The form allows for the apportionment of income, which must be calculated using a specified Georgia ratio.
Tax Credits	Partnerships can claim various Georgia tax credits, which are detailed in Schedule 2 of the form.

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