Georgia Partnership Tax Return

Partnership Tax Return
TSD_Partnership_Income_Tax_Return_700HELP

Georgia Form

700

(Rev. 06/21/23)
Partnership Tax Return (Approved web version)
Georgia Department of Revenue

CLEAR

Page 1

2023

Income Tax Return Beginning
Ending

Original
Return

Amended
Return

Partnership elects to pay the
tax at the entity level
A. Federal Employer ID No.

Amended Due
to IRS Audit

Name
Change

Address
Change

Final
Return

Composite Return
Filed

Extension

UET Annualization Exception
attached

B. Name

C. Location of Records for Audit (City, State & Country)
SELECT

D. GA Withholding Tax Number
Payroll WH Number

H. GA Sales Tax Reg. No.

L. NAICS Code

E. Street Address

F. Country

G. Telephone Number

Nonresident WH Number

J. State

I. City or Town

M. Type of Business

N. Date began doing business in GA

K. Zip Code

O. Accounting Method
CASH

P. Latest taxable year Q. Total Number
of K-1s
adjusted by the IRS

R. Do you have
S. Total Number of
Nonresident Partners?
Nonresident K-1s
Yes or

U. State Partnership Representative
if different than Federal

1.
2.
3.
4.
5.
6.
7.

OTHER

T. Amount of Nonresident Withholding paid for tax year
by the partnership

V. State Partnership. Representative’s
Telephone Number

COMPUTATION OF GEORGIA TAXABLE INCOME AND TAX

ACCRUAL

W. State Partnership Representative’s
Email Address

(ROUND TO NEAREST DOLLAR)

Georgia Net Income (from Schedule 2, Line 7).............................................. ..............................
Additional Georgia Taxable Income (See instructions)...............................................................
Total Income (Add Lines 1 and 2) ...............................................................................................
Georgia Net Operating Loss Deduction (from Schedule 9; See IT-711 instructions for 80% limitation)
Passive Loss/Capital Loss Deduction (attach Schedule; See instructions)................................
Total Georgia Taxable Income (Line 3 less Lines 4 and 5).........................................................
Income Tax (5.75% x Line 6).......................................................................................................

1.
2.
3.
4.
5.
6.
7.

SCHEDULE 1

Georgia Form 700/2023

Page 2
FEIN

(Partnership) Name

COMPUTATION OF GEORGIA NET INCOME

1.
2.
3.
4.
5.
6.
7.

Total Income for Georgia purposes (Line 12, Schedule 8) .........................................................
Income allocated everywhere (Attach Schedule) .........................................................................
Business income subject to apportionment (Line 1 less Line 2) ...............................................
Georgia ratio (Schedule 7, Column C) ........................................................................................
Net business income apportioned to Georgia (Line 3 x Line 4) .................................................
Net income allocated to Georgia (Attach Schedule) ....................................................................
Georgia Net Income (Add Line 5 and Line 6) ..............................................................................
COMPUTATION OF TAX DUE OR OVERPAYMENT

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

SCHEDULE 2

(ROUND TO NEAREST DOLLAR)

1.
2.
3.
4.
5.
6.
7.

0
0
1.000000
0

0
SCHEDULE 3

(ROUND TO NEAREST DOLLAR)

Total Tax (Schedule 1, Line 7) ................................................................................................................ 1.
2.
Credits and payments of estimated tax................................................. ........................................
Credits used from Schedule 10 (must be filed electronically) ................................................................ 3.
Withholding Credits (G2-A, G2-LP and/or G2-RP)........................................................................ 4.
Balance of tax due (Line 1 less Lines 2, 3, and 4; if zero or less enter zero)................................ 5.
Amount of overpayment (Lines 2, 3, 4 and less Line 1)................................................................ 6.
Interest due ................................................................................................................................... 7.
Form 600UET (Estimated tax penalty)........................................................................................... 8.
Other penalties due (See instructions)..........................................................................................
9.
Amount Due (See instructions)...................................................................................................... 10.
Amount to be credited to 2024 estimated tax ............................................................................... 11.
If you are due a refund (Line 6 less Lines 7, 8, 9 and 11)............................................................. 12.

Copy of the Federal Return and supporting Schedules must be attached if filing by paper. Otherwise this return shall be deemed incomplete.

Make check payable to: Georgia Department of Revenue
MAIL TO: Georgia Department of Revenue, Processing Center, PO Box 740315, Atlanta, Georgia 30374-0315
DIRECT DEPOSIT OPTIONS

A. Direct Deposit (For U.S. Accounts Only) See booklet for further instructions. If Direct Deposit is not
. selected, a paper check will be issued.
Type: Checking

Savings

Routing
Number
Account
Number

DECLARATION: I/We declare under the penalties 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.

Signature of Partner (Must be signed by partner)
By providing my e-mail address I a m authorizing the Georgia Department of Revenue to
electronically notify me at the below e-mail address regarding any updates to my accounts.

Signature of Preparer other than partner
Check the box to authorize the Georgia Department of Revenue to discuss
the contents of this return with the named preparer.

E-mail Address

Preparer’s Firm Name

Date

Preparer’s SSN or PTIN

Date

Georgia Form 700/2023

Page 3
FEIN

(Partnership) Name
INCOME TO PARTNERS
(1.) Name
(2.) Street and Number

(3.) City, State, Zip and Country (if Foreign)
(4.) ID Number

1.
2.
A
3.
4.
1.
2.
B
3.
4.
1.
2.
C
3.
4.
1.
2.
D
3.
4.
1.
2.
E
3.
4.
TOTAL
ADDITIONS TO FEDERAL TAXABLE INCOME

1.
2.
3.
4.
5.
6.
7.
8.

Profit (Loss) Sharing %
5.

Georgia Source Income
6.

0
SCHEDULE 6

1.
2.
3.
4.
5.

(ROUND TO NEAREST DOLLAR)
A. WITHIN GEORGIA

1. Gross receipts from business ...................................
2. Georgia Ratio (Divide Column A by Column B)...........

1.
2.
3.
4.
5.
6.
7.
8.

(ROUND TO NEAREST DOLLAR)

Interest on obligations of United States (must be reduced by direct and indirect interest expenses)
Exception to intangible expenses and related interest cost (Attach IT-Addback)................
Exception to captive REIT expenses and costs (Attach IT-REIT)..........................................
Other subtractions (Attach Schedule) .....................................................................................
Total (Add Lines 1 through 4) enter here and on Line 11, Schedule 8...............................
APPORTIONMENT OF INCOME

SCHEDULE 5

(ROUND TO NEAREST DOLLAR)

State and municipal bond interest other than Georgia or political subdivision thereof .....
Net income or net profits taxes imposed by taxing jurisdictions other than Georgia ........
Expenses attributable to tax exempt income ......................................................................
Reserved...............................................................................................................................
Intangible expenses and related interest costs .................................................................
Captive REIT expenses and costs ......................................................................................
Other additions (Attach Schedule) .........................................................................................
Total (Add Lines 1 through 7) enter here and on Line 9, Schedule 8.....................................
SUBTRACTIONS FROM FEDERAL TAXABLE INCOME

1.
2.
3.
4.
5.

SCHEDULE 4

(ROUND TO NEAREST DOLLAR)

B. EVERYWHERE

0
SCHEDULE 7
C. DO NOT ROUND COL (A)/ COL (B)
COMPUTE TO SIX DECIMALS

1.000000

Georgia Form 700/2023

Page 4
FEIN

(Partnership) Name
COMPUTATION OF TOTAL INCOME FOR GEORGIA PURPOSES (ROUND TO NEAREST DOLLAR)

SCHEDULE 8

1. Ordinary income (loss) ...............................................................................................

2. Net income (loss) from rental real estate activities ...................................................

3. a. Gross income from other rental activities ........

3a.

b. Less expenses (attach schedule) ...................

3b.

c. Net income (loss) from other rental activities (Line 3a less Line 3b) ...................
4. Portfolio income (loss):

3c.

a. Interest Income ..............................................................

4a.

b. Dividend Income ............................................................

4b.

c. Royalty Income ..............................................................

4c.

d. Net short-term capital gain (loss) .................................

4d.

e. Net long-term capital gain (loss) ..................................

4e.

f. Other portfolio income (loss) ........................................

4f.

5. Guaranteed payments to partners ..............................................................................

6. Net gain (loss) under Section 1231 ............................................................................

7. Other Income (loss) ....................................................................................................

8. Total Federal income (add Lines 1 through 7) ...........................................................

9. Additions to Federal income (Schedule 5, Line 8) .....................................................

10. Total (add Lines 8 and 9) ............................................................................................

10.

11. Subtractions from Federal income (Schedule 6, Line 5) ...........................................

11.

12. Total income for Georgia purposes (Line 10 less Line 11) .......................................

12.

Georgia Form 700/2023

Page 5

FEIN

(Partnership) Name
GA NOL Carry Forward Worksheet

Current Year NOL Type:
(Only select one type of loss)
A

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.

Loss Year

Normal Loss
B

Loss Amount

SCHEDULE 9

(ROUND TO NEAREST DOLLAR)

Farm Loss
C

Income Year

NOL Utilized

Insurance Loss
E

Balance

Remaining NOL

1. NOL Carry Forward Available to Current Year.............................................................................
2. Current Year Income/(Loss) (Schedule 1, Line 3)........................................................................
3. NOL from Taxable Years Beginning on or after 1/1/2018 Applied to Current Year
(Cannot exceed 80% of Line 2, see instructions for more information) (Enter on
Schedule 1, Line 4).......................................................................................................................
4. NOL Carry Forward Available to Next Year (Line 1 less Line 3 plus any loss amount on Line 2)

INSTRUCTIONS
Column A: List the loss year(s).
Column B: List the loss amount for the tax year listed in Column A.
Columns C & D: List the years in which the losses were utilized and the amount utilized each year.
Column E: List the balance of the NOL after each year has been applied. (Column B less Column D).
Column F: List the remaining NOL applicable to each loss year.
Total the remaining NOL (Col. F) and enter in the space at the bottom of the worksheet for “NOL Carry Forward Available to
Current Year”. Then insert “Current Year Income/(Loss)” in the space provided and compute the remainder of the
schedule. Create photocopies as needed. See example worksheet in IT-711 instructions.

Georgia Form 700/2023

Page 6
(Partnership) Name

FEIN

CREDIT USAGE AND CARRYOVER

(ROUND TO NEAREST DOLLAR)

SCHEDULE 10

TO
CLAIM
TAX
CREDITS YOU
MUST FILE
ELECTRONICALLY

Georgia Form 700/2023

Page 7
(Partnership) Name

FEIN

CREDIT ALLOCATION TO OWNERS

(ROUND TO NEAREST DOLLAR)

SCHEDULE 11

TO
CLAIM
TAX
CREDITS YOU
MUST FILE
ELECTRONICALLY

Extracted from PDF file 2023-georgia-form-700.pdf, last modified August 2017

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More about the Georgia Form 700 Corporate Income Tax Tax Return TY 2023

We last updated the Partnership Tax Return in January 2024, so this is the latest version of Form 700, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 700 directly from TaxFormFinder. You can print other Georgia tax forms here.

Other Georgia Corporate 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 PV-CORP	Corporate Payment voucher Voucher
Form IT-CR	Nonresident Composite Tax Return Nonresident
Form 600	Corporate Tax Return Tax Return
Form 501	Fiduciary Income Tax Return Tax Return
Form CR-PV	Composite Return Payment Voucher Voucher

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 700 from the Department of Revenue in January 2024.

Show Sources >

Form 700 is a Georgia Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Georgia Form 700

We have a total of thirteen past-year versions of Form 700 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form 700