Georgia Code, Volume 37, 2012 Supplement

2012·25.1 MB·English

by  State of Georgia

OFFICIAL CODE OF GEORGIA
ANNOTATED
2012 Supplement
IncludingActs of the 2011 Extraordinary Session and the
2012 Session ofthe General Assembly
Prepared by
The Code Revision Commission
The Office ofLegislative Counsel
and
The Editorial StaffofLexisNexis®
Published Under Authority ofthe State ofGeorgia
Volume 37
2009 Edition
Title 48. Revenue and Taxation (Chapters 7-18)
IncludingNotesto theGeorgiaReportsand the
GeorgiaAppeals Reports
Place this Supplement Alongside the Corresponding
Volume of Main Set
LexisNexis®
Charlottesville, Virginia
Digitized by the Internet Archive
2013
in
http://archive.org/details/govlawgasupp372009
OFFICIAL CODE OF GEORGIA
ANNOTATED
2012 Supplement
Including Acts ofthe 2011 Extraordinary Session and the 2012
Regular Session ofthe General Assembly
Prepared by
The Code Revision Commission
The Office ofLegislative Counsel
and
The Editorial StaffofLexisNexis®
Published Under Authority ofthe State of Georgia
Volume 37
2009 Edition
—
Title 48. Revenue and Taxation (Chapters 7 18)
IncludingAnnotations to the Georgia Reports
and the GeorgiaAppeals Reports
Place this Supplement Alongside Corresponding Volume
of Main Set
LexisNexis®
Charlottesville, Virginia
Copyright © 2010—2012
BY
The State of Georgia
All rights reserved.
ISBN 978-0-327-11074-3 (set)
ISBN 978-1-4224-5440-4
5015729
(Pub.41805)
THIS SUPPLEMENT CONTAINS
Statutes:
All laws specifically codified by the General Assembly ofthe State of
Georgia through the 2012 Regular Session ofthe General Assembly.
Annotations ofJudicial Decisions:
Case annotations reflecting decisions posted to LexisNexis® through
March 30, 2012. These annotations will appear in the following tradi-
tional reporter sources: Georgia Reports; Georgia Appeals Reports;
Southeastern Reporter; Supreme Court Reporter; Federal Reporter;
Federal Supplement; Federal Rules Decisions; Lawyers' Edition;
United States Reports; and Bankruptcy Reporter.
Annotations ofAttorney General Opinions:
Constructions ofthe Official Code ofGeorgia Annotated, prior Codes
ofGeorgia, Georgia Laws, the Constitution ofGeorgia, and the Consti-
tution of the United States by the Attorney General of the State of
Georgia posted to LexisNexis® through March 30, 2012.
OtherAnnotations:
References to:
Emory Bankruptcy Developments Journal.
Emory International Law Review.
Emory Law Journal.
Georgia Journal of International and Comparative Law.
Georgia Law Review.
Georgia State University Law Review.
Mercer Law Review.
Georgia State Bar Journal.
Georgia Journal of Intellectual Property Law.
American Jurisprudence, Second Edition.
American Jurisprudence, Pleading and Practice.
American Jurisprudence, Proof ofFacts.
American Jurisprudence, Trials.
Corpus Juris Secundum.
Uniform Laws Annotated.
American Law Reports, First through Sixth Series.
American Law Reports, Federal.
Tables:
In Volume 41, a Table Eleven-A comparing provisions of the 1976
Constitution ofGeorgia to the 1983 Constitution ofGeorgia and a Table
Eleven-B comparing provisions of the 1983 Constitution of Georgia to
the 1976 Constitution of Georgia.
An updated version of Table Fifteen which reflects legislation
through the 2012 Regular Session ofthe General Assembly.
iii
Indices:
A cumulative replacement index to laws codified in the 2012 supple-
ment pamphlets and in the bound volumes ofthe Code.
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IV
TITLE 48
REVENUE AND TAXATION
VOLUME
36
Chap.
1. General Provisions, 48-1-1 through 48-1-10.
2. State Administrative Organization, Administration, and
Enforcement, 48-2-1 through 48-2-115.
3. Tax Executions, 48-3-1 through 48-3-29.
4. Tax Sales, 48-4-1 through 48-4-112.
5. Ad Valorem Taxation ofProperty, 48-5-1 through 48-5-546.
5B. Moratorium Period for Valuation Increases in Property,
48-5B-1. [Repealed]
5C. Fair Market Value of Motor Vehicles, 48-5C-1.
6. Taxation of Intangibles, 48-6-1 through 48-6-98.
VOLUME
37
7. Income Taxes, 48-7-1 through 48-7-170.
7A. Tax Credits, 48-7A-1 through 48-7A-3.
8. Sales and Use Taxes, 48-8-1 through 48-8-278.
9. Motor Fuel and Road Taxes, 48-9-1 through 48-9-46.
11. Taxes on Tobacco Products, 48-11-1 through 48-11-30.
13. Specific, Business, and Occupation Taxes, 48-13-1 through
48-13-118.
14. Grants and Special Revenue Disbursements, 48-14-1
through 48-14-4.
17. Coin Operated Amusement Machines, 48-17-1 through
48-17-17.
—
Cross references. 2010 Special
Council on Tax Reform and Fairness for
Georgians, T. 28, C. 12.
2012 Supp.
T.48, C.7 REVENUE AND TAXATION T.48, C.7
CHAPTER
7
INCOME TAXES
Article 1 Sec.
Income tax credits for certain
General Provisions
qualified equipment that re-
duces business or domestic
Sec.
48-7-1. Definitions. energy or water usage.
48-7-40.30. Income tax credit for certain
Article 2 qualified investments for lim-
ited period oftime.
Imposition, Rate, and Computation;
Exemptions Article 3
48-7-21. Taxation ofcorporations. Returns and Furnishing of
Information
48-7-26. (For effective date, see note.)
Personal exemptions.
48-7-54. Electronic filing for
48-7-27. (For effective date, see note.) nonindividual taxpayers.
Computation of taxable net 48-7-60. Confidentiality of tax infor-
income. mation; exceptions; autho-
48-7-29.12. (For effective date, see note.) rized inspection by certain of-
Tax credit for qualified dona- ficials; conditions; furnishing
tion of real property; carry- information to local tax au-
over of credit; appraisals; thorities; conditions; furnish-
transfer ofcredit; penalty. ing information to
48-7-29.14. Income tax credit for clean nonofficials; conditions; effect
energy property. ofCode section.
48-7-29.16. Qualified education tax
Article 5
credit.
48-7-31. (For effective date, see note.) Current Income Tax Payment
Taxation ofcorporations; allo-
cation and apportionment of 48-7-112. Employee refunds and cred-
income; formula for appor- its; procedures.
tionment. 48-7-114. Estimatedincometaxbyindi-
48-7-40. Designation of counties as viduals; procedures.
lessdevelopedareas;taxcred- 48-7-128. Withholding tax on sale or
its for certain business enter- transfer of real property and
prises. associated tangible personal
48-7-40.1. Taxcreditsforbusinessenter- property by nonresidents.
prisesinlessdeveloped areas. 48-7-129. Withholding tax on distribu-
48-7-40.12. Tax credit for qualified re- tions to nonresident members
search expenses. of partnerships, Subchapter
48-7-40.15. Alternative tax credits for "S" corporations, and limited
base year port traffic in- liability companies.
creases; conditions and limi- Article 6
tations.
Local Income Taxes
48-7-40.17. Establishing or relocating
headquarters; tax credit. 48-7-140. Prohibition of local income
48-7-40.24. Conditions for taking job tax taxes.
credit by business enter-
prises; calculating credit. Article 7
48-7-40.26. Tax credit for film, video, or SetoffDebt Collection
digital production in state.
48-7-40.29. (For effective date, see note.) 48-7-161. Definitions.
2012 Supp.
T.48, C.7 INCOME TAXES 48-7-1
Sec. nonavailability of hearings
48-7-165. (For effective date, see note.) before department; issues
Hearing procedure; adjust- previously litigated; appeals.
ments of incorrect debts;
ARTICLE
1
GENERAL PROVISIONS
48-7-1. Definitions.
As used in this chapter, the term:
(1) "Corporation" includes, but is not limited to, all associations,
professional associations organized pursuant to Chapter 10 of Title
14, and insurance companies.
(2) "Deficiency" means the amount by which the tax imposed by
this chapter or any prior law exceeds the amount shown as the tax
due by the taxpayer upon his return or, ifno amount is shown as the
tax due by a taxpayer upon his return or ifno return is made by the
taxpayer, the amount determined by the commissioner to be the
correct amount ofthe tax.
(3) "Dividend," when used for the purpose of denning a taxable
dividend, means any distribution made by a corporation out of its
earnings or profits to its shareholders or members whether the
distribution is made in cash, other property, or a stock different from
the stock on which the dividend is paid. "Dividend" also includes, but
is not limited to, the portion ofthe assets ofa corporation distributed
at the time ofdissolution which is in effect a distribution ofearnings.
(4) "Fiscal year" means an accounting period of 12 months ending
on the last day ofany month other than December. In the case ofany
taxpayer who has elected a year consisting of 52 to 53 weeks for
federal income tax purposes, the term means the period so elected.
(5) "Income tax day" means December 31 ofeach calendar year or,
ifa person can show to the satisfaction ofthe commissioner that the
person has already established the fiscal year as his taxable year for
income tax reportingpurposes, the last day ofthe person's fiscal year.
(6) "Nonresidents" means taxable nonresidents and nontaxable
nonresidents.
(7) "Nontaxable nonresident" means every individual who is not
otherwise a resident of this state or a taxable nonresident of this
state.
(7.1) "Owning property or doing business in this state" shall not
include the following activities, either singularly or in the aggregate,
2012 Supp. 3
48-7-1 REVENUE AND TAXATION 48-7-1
with respect to any person that is not otherwise subject to income
taxation in the State ofGeorgia that has contracted with a commer-
cial printerfor anyprinting, includingprintingrelated activities, and
distribution services to be performed in Georgia:
(A) The ownership by that person of tangible or intangible
property located at the Georgia premises ofthe commercial printer
for use by the printer in performing its services for the owner;
(B) The sale and distribution by that person ofprinted material
produced at and shipped or distributed from the Georgia premises
ofthe commercial printer;
(C) The activities performed by or on behalfofthat person at the
Georgia premises of the commercial printer which are directly
related to the services provided by that commercial printer; or
(D) The printing, including printing related activities and dis-
tribution related activities, performed by the commercial printer in
Georgia for or on behalfofthat person.
(8) "Paid," for the purpose of the deductions under this chapter,
means "paid or accrued" or "paid or incurred." The terms "paid or
accrued,""paid or incurred,"and "incurred"shall be construed accord-
ing to the method of accounting upon the basis of which the net
income is computed under this chapter.
(9) "Received,"forthe purpose ofthe computation ofthe netincome
under this chapter, means "received or accrued." The term "received
or accrued" shall be construed according to the method ofaccounting
upon the basis of which the net income is computed under this
chapter.
(10)(A) "Resident" means:
(i) Every individual who is a legal resident of this state on
income tax day;
(ii) Every individual who, though not necessarily a legal
resident ofthis state, nevertheless resides within this state on a
more or less regular or permanent basis and not on the tempo-
rary or transitory basis of a visitor or sojourner and who so
resides within this state on income tax day; and
(hi) Every individual who on income tax dayhas been residing
within this state for 183 days or part-days or longer, in the
aggregate, ofthe immediately preceding 365 day period.
(B) Every individual who, having become a resident ofthis state
for income tax purposes under divisions (i) and (ii) ofsubparagraph
(A) ofthis paragraph, is deemed to continue to be a resident ofthis
4 2012 Supp.