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Georgia Free Printable TSD_Underpayment_of_Estimated_Corporations for 2024 Georgia Underpayment of Estimated Tax by Corporations

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Underpayment of Estimated Tax by Corporations
TSD_Underpayment_of_Estimated_Corporations

Print Clear 600 UETRev. (07/28/17) Page 1 Underpayment of Estimated Tax by Corporations Georgia Department of Revenue Taxpayer Services Division YEAR HOW TO FIGURE YOUR UNDERPAYMENT (Complete Lines 1 through 5) CORPORATION NAME ID NUMBER 1. Tax (from Form 600, Sch 1, Line 8) 1. 2. Credits Used (from Form 600, Sch 3, Line 3) 2. 3. Balance Due (Line 1 less Line 2) 3. 4. Enter 100% of the Immediately Preceding Year ’s Tax (return must be for a 12-month period) 4. 5. Enter 70% of the Amount Shown on Line 3 5. DUE DATE OF INSTALLMENTS (Enter dates below) 6. Divide amount on Line 4 by the number of installments required for the year (See Instruction B), enter the results in appropriate columns ........ 6. 7. Divide amount on Line 5 by the number of installments required for the year (See Instruction B), enter the results in the appropriate column.... 7. 8. Enter the lesser of Line 6 or Line 7 for each period in the appropriate column .......................... 8. 9. Amounts paid on estimate for each period and tax withheld ........................................................... 9. 10. Overpayment of previous installment (See Instruction E) ................................................ 10. 11. Total of Line 9 and Line 10 ................................... 11. 12. Underpayment (Line 8 less Line 11) or Overpayment (Line 11 less Line 8) ................. 12. EXCEPTIONS WHICH AVOID THE PENALTY (See Instruction D) 13. Total amount paid and withheld from January 1, through the installment date indicated ............... 13. 14. Exception 1. —Tax on annualized current year income (See Instructions)...................................... 14. HOW TO FIGURE THE PENALTY (Complete Lines 15 through 19 for installments not avoided by an exception) 15. Amount of underpayment (from Line 12) ............ 15. 16. Date of payment or April 15, 20 __ whichever is earlier (if S Corp use March 15)(See Instruction F) 16. 17. Number of days from due date of installment to date shown on Line 16 ................................... 17. 18. Penalty (9 percent a year on amount shown on Line 15 for the number of days shown on Line 17)............ 18. 19. Penalty (Add amounts on Line 18).............................. 19. Not Applicable Print Clear Page 2 Instructions for 600 UET Underpayment of Estimated Tax by Corporations A. Corporate taxpayers may use this form to determine whether income tax was sufficiently paid throughout the year by withholding or by installment payments. If sufficient tax was not paid you may owe a penalty of 9 percent a year on the unpaid amount. This form will help you determine whether you are subject to a penalty, or whether you are excepted from a penalty. B. FILING AN ESTIMATE AND PAYING THE TAX, CALENDAR YEAR TAXPAYERS – If you file a return on a calendar year basis and are required to file Form 602ES, you are generally required to file estimated tax by April 15, and to pay tax in four installments. (You may be required to pay in fewer installments.) The chart below shows the due date for estimated tax, and maximum number of installments. Period Requirements First Met Between Jan. 1 and March 31 Between Apr. 1 and May 31 Between June 1 and August 31 On or after September 1 Due Date of Payment April 15 June 15 Sept. 15 Dec. 15 Maximum Number of Installments Required 4 3 2 1 Exception 1, Tax on Annualized Current Year’s Income: This exception applies if your current year’s tax payments equal or exceed 70 percent of the tax on your annualized taxable income for periods from the first of the year to the end of the month preceding that in which an installment is due. To annualize your taxable income, follow these four steps: a) Figure your taxable income from the first of your taxable year up to and including the month prior to that in which an installment is due. b) Multiply the result of Step (a) by 12. c) Divide the result of Step (b) by the number of months in your computation period. d) The result is your annualized taxable income. Example 1. 2. 3. Taxable Income during Jan., Feb., and March .............. 8,750.00 Annualized income (8,750.00 x 12 = 105,000 / 3) ........ 35,000.00 Total Income Tax ( 6%) .................................................. . 2,100.00 If your withheld tax and estimated tax payment for the first installment period of the current year was at least 368.00 (70% x 25% x $2,100.00) you do not owe a penalty for that period. If any date shown falls on a Saturday, Sunday, or legal holiday, substitute the next regular workday. E. LINE 10 OVERPAYMENT- Apply as a credit against the installment the excess of the total of the amounts on Line 9 of the previous columns over the total of the amounts on Line 8 of the previous columns. If no excess enter zero. C. FISCAL YEAR TAXPAYERS - Fiscal year taxpayers should contact the Department at (1-877-423-6711) for information on the penalty for underpayment of estimated taxes. F. INSTALLMENT PAYMENTS – If you made more than one payment for an installment attach a separate computation for each payment. D. EXCEPTION FROM THE PENALTY – You will not be liable for a penalty if your current year tax payments (amount shown on Line 13) equals or exceeds any amount determined for the same period under the following exception provision. If the exception does not apply, complete Line 15 through 19 to figure your penalty. Put the amount on Line 19 on Form 600, Schedule 3, Line 8A or Form 600S, Schedule 4, Line 8A or Form 600-T, Schedule 2, Line 7.
Extracted from PDF file 2023-georgia-form-600-uet.pdf, last modified July 2010

More about the Georgia Form 600-UET Individual Income Tax TY 2023

Form 600-UET is used by corporations to calculate if there were underpayments of their estimated tax

We last updated the Underpayment of Estimated Tax by Corporations in March 2023, so this is the latest version of Form 600-UET, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 600-UET directly from TaxFormFinder. You can print other Georgia tax forms here.

Other Georgia Individual Income Tax Forms:

TaxFormFinder has an additional 30 Georgia income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 500 Individual Income Tax Return
Form G-4 Employee Withholding
Form IT-511 Individual Income Tax Booklet
Form 525-TV Individual Tax Payment Voucher
Form 500-ES Estimated Quarterly Tax Return

Download all GA tax forms View all 31 Georgia Income Tax Forms


Form Sources:

Georgia usually releases forms for the current tax year between January and April. We last updated Georgia Form 600-UET from the Department of Revenue in March 2023.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Georgia Form 600-UET

We have a total of two past-year versions of Form 600-UET in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form 600-UET

TSD_Underpayment_of_Estimated_Corporations

2021 Form 600-UET

TSD_Underpayment_of_Estimated_Corporations


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