TAX NEWS - January 2009

Sales Tax Credit Memos: Procedures for Approved Tax Credit Memorandums - Georgia sales tax

What is a credit memorandum?

A credit memorandum is a notice reflecting that the Department of Revenue has determined that a credit (overpayment) balance exists on your account.
         

How is a tax credit memorandum used?

1. Enter the amount of the credit as it appears on the Credit Memorandum on line 19 of your next ST-3 Sales and Use Tax Report.

NOTE: If the amount of the credit exceeds the amount of State Sales and Use Tax that appears on Line 4 - Tax Column, enter on Line 19 the amount on Line 4. Reduce the amount of the credit by the amount entered on Line 19. The remaining credit can be used on future ST-3 Sales and Use Tax Report(s). The use of the remaining credit should continue until the total credit balance has been exhausted.

2. Include a copy of the Credit Memorandum with the ST-3 Sales and Use Tax Report. If the Credit Memorandum is not included, credit will not be given. Remember to subtract Line 19 in order to determine the amount to enter on Line 20.
 
If your business has closed or if you prefer a refund, you must submit Form ST-12 Claim for Refund. Mail the completed form to:
 
Georgia Department of Revenue
Sales and Use Tax Unit
1800 Century Boulevard, Suite 8214
Atlanta, Georgia 30345

A claim for refund may be submitted any time within three years after the date of payment.
Refer to O.C.G.A. Section 48-2-35 for more details.
For additional information, you may contact the Taxpayer Services Division at 404-417-6642.