TAX NEWS - May 2009

Taxation of Financial Institutions - State of Georgia tax

Property Tax Guide For The Georgia Taxpayer

Local Business License Tax

Georgia cities and counties may impose a tax on the gross receipts of financial institutions located within their respective jurisdictions. This tax is known as the Local Business License Tax and is filed on Form PT-440 with the cities and counties.  


State Occupation Tax

The State also imposes a gross receipts tax known as the State Occupation Tax which is filed on Form 900. The State Occupation Tax and copies of the Local Business License Tax Forms are filed with the State each year by March 1.  

The law provides for cities and counties that choose to impose the gross receipts tax to set a levy of not more than the State rate of 0.25 of one percent. A city or county may establish a minimum tax levy of $1,000.


Other Taxes

In addition to the tax on gross receipts, financial institutions are subject to personal property taxes, real property taxes, corporate net worth taxes, and corporate income taxes (see Taxpayer Services Division for questions about corporate net worth taxes and corporate income taxes).


Contact

For information on filing the Local Business License Tax Form PT-440 contact the county or local municipality.

For information on filing the State Occupation Tax Form 900 call (404)417-2409.