Georgia Exempt Organization Unrelated Business Income Tax Return

Exempt Organization Unrelated Business Income Tax Return
TSD_Exempt_Organization_Unrelated_Business_Income_Tax_Return_600T
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Mailing Address:

600-T
Exempt Organization

Georgia Form

Georgia Department of Revenue
Processing Center
PO Box 740397
Atlanta, Georgia 30374-0397

(Rev. 06/12/23)

Unrelated Business Income Tax Return

Page 1

Amended due to IRS Audit

Amended

Address Change

UET Annualization Exception attached

For the taxable year beginning ______________________, 20_______ and ending ______________________ , 20_______
Name of Organization

Name of Fiduciary

Number and Street

Number and Street

City or Town

City or Town

State

Zip Code

State

Federal Employer ID No. (in case of employees’
trust described in section 401 (a) and exempt under
section 501 (a), insert the trust’s identification number.)

NAICS Code

Date of current
IRS code section
exemption letter. for which you are
exempt.

Zip Code

SCHEDULE 1

Georgia Unrelated Business Taxable Income
1. Unrelated business taxable income from Federal Form 990-T (attach copy).........

1.

2. Additions ...............................................................................................................

2.

3. Total (add Line 1 and Line 2) ................................................................................

3.

4. Subtractions ........................................................................................................

4.

5.. Adjusted unrelated business taxable income (Line 3 less Line 4)............................

5.

6. Income allocated everywhere ..................................................................................

6.

7. Unrelated business taxable income subject to apportionment (Line 5 less Line 6)....

7

8. Apportionment ratio (Attach Computation Schedule) ...............................................

8

9. Georgia apportioned unrelated business taxable income (Line 7 x Line 8) ............

9.

10. Income allocated to Georgia (Attach Schedule) ......................................................

10.

11.Total of Lines 9 and 10 ................................................. ........................................

11.

12.Georgia net operating loss deduction (Attach Schedule) (See IT-611 instructions for
80% limitation)

12.

13.Georgia unrelated business taxable income (Line 11 less Line 12) ......................

13.

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Georgia Form

Page 2

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600-T

Name

FEIN

COMPUTATION OF GEORGIAUNRELATED BUSINESS INCOME TAX

SCHEDULE 2

1.. Line 13, Schedule 1 multiplied by 5.75%................................................................

1.

2. Less: Credits used from Schedule 3, do not enter more than Line 1 of Schedule 2

2.

3. Less: Payments ....................................................................................................

3.

4. Withholding Credits (G2-A, G2-LP and/or G2-RP) ...............................................

4.

5. Schedule 3B Refundable tax credits ....................................................................

5.

6. Balance of tax due OR overpayment ....................................................................
7. Interest due (See Instructions) ..............................................................................
8. Underestimated tax penalty ...................................................................................
9. Other penalties due (See Instructions) ..................................................................
10. Balance of tax, interest, and penalties due with return .........................................

6.
7.
8.
9.
10.

11. If Line 6 is an overpayment, amount after any penalties and interest to be credited
on 20

Estimated Tax

Refunded

A COPY OF THE FEDERAL 990-T AND SUPPORTING SCHEDULES (AND ANY EXTENSION) MUST BE ATTACHED TO THIS RETURN. DECLARATION:
I/We declare under penalty 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 the taxpayer, this declaration is based on all information of which the preparer has
knowledge. Georgia Public Revenue Code Section 48-2-31 stipulates that taxes shall be paid in lawful money of the United States, free of any expense to the State of
Georgia.

Signature of Individual or Firm Preparing Return

Signature of Officer

Title

Date

Employee ID or Social Security Number

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Georgia Form

Page 3

600-T

Name

FEIN
SCHEDULE 3

(ROUND TO NEAREST DOLLAR)

CREDIT USAGE AND CARRYOVER

1. Complete a separate schedule for each Credit Code.
2. Total the amounts on Line 11 of each schedule and enter the total on the credit line of the return.
3. If there is a credit eligible for carryover, please complete a schedule even if the credit is not used for this tax year.
4.. Enter credits which are attributable to unrelated trade or business income from Georgia sources. See Form 600 for the credit codes that may apply.
Exempt organizations are only eligible for tax credits to the extent they apply to unrelated trade or business income from Georgia sources (note not all
credits apply to 600T).
5. See the relevant forms, statutes, and regulations to determine how the credit is allocated to the owners, to determine when carryovers expire, and to see i f
the credit is limited to a certain percentage of tax.
6. If the credit for a particular credit code originated with more than one person or company, enter separate information on Lines 3 through 9 below.
7. The credit certificate number is issued by the Department of Revenue for credits that are preapproved. If applicable, please enter the Department of
Revenue credit certificate number where indicated.
8. Before the Line 12 carryover is applied to the next year, the amount must be reduced by any carryovers that have expired.
For the credit generated this tax year, list the Company Name, ID number, and Credit Certificate number if applicable. Purchased credits
should also be included. If the credit originated with this taxpayer, enter this taxpayer’s name and ID# below.

1. Credit Code

SELECT

2. Credit remaining from previous years
3. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

4. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

5. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

6. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

7. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

8. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

9. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

10. Total available credit for this tax year (sum of Lines 2 through 9)

10.

11. Credit Used this tax year (enter here and on Line 2, Schedule 2)

11.

12. Potential carryover to next tax year (Line 10 less Line 11)

12.

Additional Schedule 3

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Georgia Form

Page 4

600-T

SCHEDULE 3B
Name

FEIN

REFUNDABLE TAX CREDITS

SCHEDULE 3B

(ROUND TO NEAREST DOLLAR)

1. Complete a separate schedule for each Credit Code.
2. Total the amounts on Line 11 of each schedule and enter the total on the credit line of the return.
3. If there is a credit eligible for carryover, please complete a schedule even if the credit is not used for this tax year.
4. Enter credits which are attributable to unrelated trade or business income from Georgia sources. See Form 600 for the credit codes that may apply.
Exempt organizations are only eligible for tax credits to the extent they apply to unrelated trade or business income from Georgia sources (note not all
credits apply to 600T).
5. See the relevant forms, statutes, and regulations to determine how the credit is allocated to the owners and to determine when carryovers expire.
6. If the credit for a particular credit code originated with more than one person or company, enter separate information on Lines 3 through 9 below.
7. The credit certificate number is issued by the Department of Revenue for credits that are preapproved. If applicable, please enter the Department of
Revenue credit certificate number where indicated.
8. Before the Line 12 carryover is applied to the next year, the amount must be reduced by any carryovers that have expired or by any credits that were
sold.
For the credit generated this tax year, list the Company Name, ID number and Credit Certificate number if applicable. Purchased credits
should also be included. If the credit originated with this taxpayer, enter this taxpayer’s name and ID# below.
Note: A purchased Timber Tax Credit is not a refundable tax credit. Use Schedule 3 if the Timber Tax Credit was purchased.

1. Credit Code

SELECT

2. Credit remaining from previous years
3. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

4. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

5. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

6. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

7. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

8. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

9. Company Name

ID Number

Credit Certificate #

Credit Generated this tax year

10. Total available credit for this tax year (sum of Lines 2 through 9)

10.

11. Credit Used this tax year (enter here and on Line 5, Schedule 2)

11.

12. Potential carryover to next tax year (Line 10 less Line 11)

12.

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Page 5
INSTRUCTIONS FOR FORM 600-T EXEMPT ORGANIZATION UNRELATED BUSINESS
INCOME TAX RETURN
For losses incurred in taxable years ending after
December 31, 2017, there is no carryback and
FILING REQUIREMENTS
Every exempt organization, which is required to file a Form unlimited carryforward of net operating losses
990-T with the Federal Government and has unrelated trade and there is a 2 year carryback for farming losses
and there is a 2 year carryback and 20 year carryor business income from Georgia sources, must file a
forward for certain insurance company net operating
Georgia Form 600-T.
losses.
WHEN AND WHERE TO FILE
The return is due on or before the due date of the Federal For losses incurred in taxable years begining on or after
Form 990-T as provided under the Internal Revenue Code. January 1, 2018, there is an 80% limitation on the usage
Returns should be mailed to the Georgia Department of of net operating losses (the 80% limitation is based on
Georgia taxable net income). The 80% limitation does
Revenue, Processing Center, PO Box 740397, Atlanta, GA
not apply to certain insurance company net operating
30374-0397.
losses.
EXTENSION OF TIME
A reasonable extension of time for filing may be granted LINE 12: Georgia net operating loss deduction
ti
by the Commissioner upon application on Form IT-303.
This must be filed prior to the date the return is due and
must show that the delay is due to a reasonable cause. If
ti
the taxpayer has received from the Internal Revenue
Service an extension of time within which to file their
Federal return, the taxpayer need not apply to the
Georgia Department of Revenue for a similar extension
____________
of time. All that is required is for a copy of the request
for the Federal extension to be attached to the Georgia
return. Interest accrues on any tax due from the regular
____________
due date of the return until paid. Georgia Law prohibits
____________
the granting of an extension of over 6 months from the
due date of the return.
____________

TAX RATE
As provided by Georgia Code Section 48-7-25 unrelated
business income shall be taxed at the rate of 5.75%.
ACCOUNTING METHOD
Taxable income must be computed using the method of
accounting regularly used in keeping the organization’s
books and records. In all cases, the method adopted must
clearly reflect taxable income.
NET OPERATING LOSSES
Georgia did not adopt the revised net operating loss
provisions in the 2020 CARES Act. As such:

____________
____________
____________

Page 6
INSTRUCTIONS FOR FORM 600-T EXEMPT ORGANIZATION UNRELATED BUSINESS
INCOME TAX RETURN
CREDITS
Enter credits which are attributable to unrelated trade or
business income from Georgia sources. See Form 600
for the credit codes that may apply (note not all credits
apply to 600-T).
ti

disregarded for filing purposes. All credits should be
claimed on the owner’s return. All tax credit forms
should be filed in the name of the single member LLC
but included with the owner’s return. This is necessary
so that the returns can be processed and the credits flow
to the proper taxpayer.
PERIOD TO BE COVERED
The taxable period for Georgia purposes shall be the same
as for Federal purposes.

PENALTIES AND INTEREST
Penalties provided by the Georgia Code are: For delinquent filing- 5% of tax not paid by the original due date
for each month or part of month of delinquency.
For delinquent payment - 1/2 of 1% due for each
month or part month of delinquency. An extension of
time for filing does not alter delinquent payment
penalty. Delinquent payment is not due if the return is
being amended due to an IRS audit. For negligent
underpayment- 5% of amount of underpayment. For
fraudulent underpayment - 50% of amount of
underpayment. Interest accruing for months beginning
before July 1, 2016 accrues at the rate of 12 percent
annually. Interest that accrues for months beginning on
or after July 1, 2016 as provided by Georgia Code
Section 48-7-81. An extension of time for filing does
not alter the interest charge. Underpayment of estimated
tax (UET) Penalty.

Attach Form 600 UET and enter the amount on Line 8
of Schedule 2. Also, if a penalty exception applies,
ALLOCATION AND APPORTIONMENT OF
check the “UET Annualization Exception attached”
INCOME AND EXPENSES
For those organizations having unrelated business income box.
for Georgia and in other states, the income and expenses Note: The combined total of the penalty for delinquent
should be allocated and apportioned to clearly reflect the filing and penalty for delinquent payment cannot
Georgia unrelated business taxable income as provided exceed 25% of the tax not paid by the original due date.
in Schedule 1. Please see the 611 Booklet (ONE Factor
Formula) for more information. Sufficient information
should be attached to the Form 600-T to support the allocation and apportionment of income and expenses to
Georgia.
FEDERAL FORM 990-T
A copy of the Federal Form 990-T and supporting
schedule (and any extensions) must be attached to this
return.
“Georgia Public Revenue Code Section 48-2-31 stipulate
that taxes shall be paid in lawful money of the United State
free of any expense to the State of Georgia”.