Georgia Business Occupation Tax Return

Business Occupation Tax Return
TSD_Georgia_Financial_Institutions_Business_Occupation_Tax_Return_900
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Georgia Form

900

Page 1
(Rev. 05/23/19)

Georgia Financial Institutions
Business Occupation Tax Return

Tax Year_____________
A. Federal Employer ID Number

Address Change

(Calendar Year of Gross Receipts -The date must be same as the Form PT-440.)
Name

Name Change

Form Type

(Type or Print Exact Corporate Name)

Original ( ) Amended ( )
B. Date of Incorporation

Business Address

Form of Incorporation
Federal ( ) State ( ) Mutual ( )

C. Incorporated Under Laws of What State City/Town

County

State

Zip Code

Accounting Method
Cash ( ) Accrual ( )

D. Date Admitted to Georgia

State NAICS Code

Location of Records for Audit (City)

Schedule 1 - Computation of Gross Receipts (Banks and Mutual Financial Institutions):
1. Gross Receipts (See Instructions) ............................................................................... 1.
2. Additions (Line 4, Schedule 5, Page 2) ....................................................................... 2.
3. Total (Line 1 plus Line 2) .............................................................................................. 3.
4. Exclusions (Line 4, Schedule 6, Page 2) ..................................................................... 4.
5. Balance (Line 3 less Line 4) ......................................................................................... 5.
6. Deductions (Line 7, Schedule 7, Page 2) .................................................................... 6.
7. Balance (Line 5 less Line 6) ......................................................................................... 7.
8. Adjusted Gross Receipts (Line 3, Schedule 8, Page 2) .............................................. 8.

Schedule 2 - Calculation of State Occupation Tax
1. Adjusted Gross Receipts (Line 8, Schedule 1) .......................................................... 1.
2. Occupation Tax Rate .................................................................................................... 2.

x .0025

3. Occupation Tax Due ..................................................................................................... 3.

Schedule 3 - Amount Paid With Return
1. Occupation Tax (Line 3, Schedule 2) ........................................................................... 1.
2. Interest Due (See Instructions) .................................................................................... 2.
3. Balance of Tax & Interest Due with Return .................................................................. . 3.

Schedule 4 - Amount of Credit to be Claimed on Corporate Tax Return
1. Occupation Tax (Line 1, Schedule 3 Above) ................................................................ 1.
2. Business License Taxes Paid, Copy of Form(s) PT440 Must Be Attached to this Return 2.
3. Total Credit to be Claimed Against Corporate Income Tax .......................................... 3.
DECLARATION: I/We declare, under 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 taxpayer, this declaration is based on all
information of which the preparer has knowledge. Georgia Public 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 Officer

Signature of Individual or Firm Preparing Return

_____________________________
Title

Date

_____________________________
Telephone Number

_____________________________
Preparing Firm’s Name

_____________________________
Identification or Social Security Number

MAKE CHECK PAYABLE TO TAXPAYER SERVICES DIVISION AND MAIL TO:
GEORGIA DEPARTMENT OF REVENUE
PROCESSING CENTER, P O BOX 740320, ATLANTA, GEORGIA 30374-0320
THIS RETURN IS DUE ON MARCH 1ST OF THE YEAR FOLLOWING THE CALENDAR YEAR IN WHICH
GROSS RECEIPTS ARE COMPLETED

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Page 2

Georgia Form 900

Schedule 5 - Additions to Gross Receipts
1. Net Income from Service Corporations or Subsidiaries (Applicable to Mutual Corporations Only) 1.
2. Profit from Sale of Assets (if not already included in Line 1, Schedule 1, Page 1) .......... 2.
3. Other Receipts________________________________________________________ 3.
4. Total Additions (Enter on Line 2, Schedule 1, Page 1) ..................................................... 4.

Schedule 6 - Exclusions from Gross Receipts (if included in Line 1, Schedule 1, Page 1)
1. Interest on U.S. Government and Agency Obligations .................................................... 1.
2. Interest on Georgia State, County, Municipality and other Political Subdivision
Obligations ....................................................................................................................... 2.
3. Income Derived from Operation of a Domestic International Banking Facility or from
Transactions with Persons Residing Outside of the United States (*) ............................. 3.
4. Total Exclusions (Enter on Line 4, Schedule 1, Page 1)................................................... 4.

Schedule 7 - Deductions from Gross Receipts
1. Total Interest Paid on Deposits (*) ........ 1.
2. Total Interest Paid on Other Liabilities (*) 2.
3. TOTAL (Line 1 plus Line 2) ................... 3.
4. LESS (Adjustments in Amounts on Line
1 and Line 2) ....................................... . 4.
5. BALANCE (Line 3 less Line 4)............................................................................................... 5.
6. Operating Costs Associated with Buildings Housing Financial Institutions Operations (not to

exceed Rental Income derived from such Buildings) (Applicable to Mutual Corporations Only)... 6.

7. Total Deductions (Enter on Line 6, Schedule 1, Page 1) ........................................................ 7.
(*) Deductions on Line 1 and Line 2, Schedule 7, must be reduced in the same proportion as the item in
Schedule 6, indicated by (*) bear to the amount shown on Line 3, Schedule 1, Page 1.

Schedule 8 - Apportionment of Gross Receipts

a. Within Georgia

b. Everywhere

c. Georgia Factor
(Col. a / Col. b)
Compute to Six Decimals

GROSS RECEIPTS
1. Balance (Line 7, Schedule 1, Page 1) ............................................................................ 1.
2. Georgia Gross Receipts Factor (c. above) ..................................................................... 2.
3. Gross Receipts apportioned to Georgia (Line 2 x Line 1) (Enter in Line 8, Schedule 1, Page 1) 3.

Effective for tax years due on or after March 1, 1997, Georgia Code Section 48-6-95(b)(1) provides that Georgia gross
receipts for a financial institution conducting business both within and outside the State be determined using the
apportionment factor prescribed under Georgia Code Section 48-7-31(d)(2)(A).
Georgia Code Section 48-7-31(d)(2)(A) states, in part, that the gross receipts factor is a fraction, the numerator of which
is the total gross receipts from business within this State during the tax period and the denominator of which is the total gross
receipts from business done everywhere for the tax period.
The gross receipts within Georgia and Everywhere should be calculated in the same manner as the gross receipts
calculation used on the Georgia Corporate Income Tax Return (Form 600 or 600S).

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FORM 900

STATE OCCUPATION TAX
GENERAL INSTRUCTIONS

INTRODUCTION
The 1983 session of the Georgia General Assembly
passed legislation, House Bill 440, which provided for a
revision of the taxation of banks and mutual financial
institutions.
Effective January 1, 1984, banks and mutual financial
institutions are subject to a special state occupation tax,
corporate income tax and net worth tax. The corporate
income tax and net worth tax must be computed on the
corporate tax return, Form 600 or Form 600S, on the same
basis as other regular corporations. However, a special tax
credit will be allowed against the corporate income tax
liability.
Form 900 is correlative in some respects with the local
return, Form PT440, which is filed with the counties and
cities enacting an ordinance to impose the new business
license tax.
FILING REQUIREMENTS
All financial institutions that conduct business or own
property in the State of Georgia are required to file a
Georgia Financial Institutions Business Occupation Tax
Return, Form 900.
WHEN AND WHERE TO FILE
The return is due on March 1 of the year following the
calendar year in which gross receipts are computed. In the
“Tax Year” box at the top of page 1, please enter the
calendar year when the gross receipts were received.
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
accrues at an annual rate equal to the Federal Reserve
prime rate plus 3 percent. The interest rate will be
reviewed and may be adjusted in January of each
subsequent calendar year based on the Federal Reserve
Rate.
Mail returns to: Georgia Department of Revenue
P.O. Box 740320
Atlanta, GA 30374-0320
RELATION TO MUNICIPAL AND/OR COUNTY BUSINESS
LICENSE TAX RETURNS
The Business Occupation Tax Return, Form 900, is used
in conjunction with filing of the Business License Tax Return,
Form PT440. The amount of adjusted gross receipts shown
on Line 8, Schedule 1, Form 900, should be entered on Line
A, Schedule 1 or Line A, Schedule 2 of Form PT440. Total
Business License taxes shown on Form PT440 must be
entered on Line 2, Schedule 4, Form 900, to become
available as a tax credit against the Georgia corporate
income tax liability. A copy of return, Form PT440, must
be attached to the Occupation Tax return, Form 900.

COMPUTATION OF GROSS RECEIPTS
As provided under Subsection (b) of Section 48-6-95 of
the Georgia Public Revenue Code, banks and mutual
financial institutions must include the following items in
their gross receipts and make applicable adjustments
for the Additions, Exclusions and Deductions listed.
BANKS:
(A) Interest and fees on loans less any interest collected
on those portions of loans sold and serviced for others;
(B) Interest on balances with other depository financial
institutions; (C) Interest on federal or correspondent
funds sold and securities purchased under agreement
to resell; (D) Interest on other bonds, notes, and debentures; (E) Dividends on stock; (F) Income from direct
lease financing; (G) Income from fiduciary activities; (H)
Service charges on deposit accounts; (I)
Other service charges, commissions and fees; and
(J) Other income.
MUTUAL FINANCIAL INSTITUTIONS:
(A) Interest on mortgage loans less any interest collected
on those portions of loans sold and serviced for others;
(B) Interest on mortgages, participations, or mortgagebacked securities; (C) Interest on real estate sold on
contract; (D) Discounts on mortgage loans purchased;
(E) Interest on other loans; (F) Interest and dividends
on investments and deposits; (G) Loan fees; (H) Loan
servicing fees; (I) Other fees and charges; (J) Gross
income from real estate owned operations; (K) Net income from office building operations; (L) Gross income
from real estate held for investment; (M) Net income
from service corporations and subsidiaries; (N) Miscellaneous operating income; (O) Profit on sale of real estate owned operations, investment securities, loans and
other assets and (P) Miscellaneous non-operating
income.
ADDITIONS:
1. Net income from service corporations and subsidiaries (applicable to Mutual corporations only).
2. Profit from sale of assets.
Enter above items in Schedule 5, Page 2, Form 900.
EXCLUSIONS:
1. Interest on U. S. Government and agency obligations.
2. Interest on Georgia State, County, Municipality and
other political subdivision obligations.
3. Gross income derived from operations of a Domestic International Banking Facility or from transactions
with persons residing outside of the United States.
Enter above items in Schedule 6, Page 2, Form 900.

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DEDUCTIONS:

1.
2.
3.

Total interest paid on deposits.
Total interest paid on other liabilities.
Operating costs associated with building housing financial
institutions operations not to exceed rental income derived
from such building (applicable to mutual corporations only).
Items 1 and 2 must be reduced by the proportion that Item 3 under above Exclusions (relating to a Domestic International
Banking Facility) bears to the gross receipts, including above
additions, as calculated before making any deductions or exclusions listed above. Enter the deductions and the amount of adjustment in Schedule 7, Page 2, Form 900, to arrive at the net
amount deductible.

GEORGIA GROSS RECEIPTS
Effective March 29, 1996 and applicable to all returns due on or
after March 1, 1997, Georgia Code Section 48-6-95(b)(1) provides that Georgia gross receipts for a financial institution conducting business both within and outside the State be determined
using the apportionment factor prescribed under Georgia Code
Section 48-7-31(d)(2)(A).
Georgia Code Section 48-7-31(d)(2)(A) states, in part, that the
gross receipts factor is a fraction, the numerator of which is the
total gross receipts from business done within this State during
the tax period and the denominator of which is the total gross
receipts from business done everywhere for the tax period. Gross
receipts are in this State if the receipts are derived from customers within this State or if the receipts are otherwise attributable to
this State’s marketplace.
Using Schedule 8, Page 2, determine the Georgia gross receipts
factor by dividing the gross receipts within Georgia by the gross
receipts everywhere. Multiply the balance of gross receipts (Line
1, Schedule 8, Page 2) by the Georgia gross receipts factor. Enter the amount of gross receipts attributable to Georgia in Line 3,
Schedule 8, Page 2 and in Line 8, Schedule 1, Page 1.

COMPUTATION OF TAX
The State Occupation tax is 0.25% of the adjusted gross receipts
shown on Line 1, Schedule 2, Page 1, Form 900. The amount of
tax must be entered in Line 3, Schedule 2, on Line 1, Schedule
3, and on Line 1, Schedule 4.

TAX CREDITS
Municipal and County Business License taxes and State Occupation taxes will be allowed as a dollar for dollar tax credit against
the State income tax liability of the depository financial institution
for the calendar or fiscal tax year during which the taxes are
paid; not the calendar year in which the gross reciepts were recieved. If the tax credit exceeds the income tax liability of
such institution for any year, the amount of any unused credit
may be credited over a period of five years from the tax year in
which the unused credit arose.
Effective for tax years beginning on or after January 1, 1996, if
the assets of an institution are acquired by another institution in
a transaction described in Section 381 (a) of the Internal Revenue Code of 1986, the acquiring institution can use any unused
credit of the distributor or transferor institution.

Effective for tax years beginning on or after January 1, 2001,
if a depository financial institution has elected Subchapter ‘S’
status the credit may be passed through on a pro rata basis to
the institution’s shareholders.
If the amount of the pro rata credit exceeds a shareholder’s
individual income tax liability, the amount of any unused credit
may be credited over a period of five years from the tax year
in which the unused credit arose. No such credit shall be
allowed the taxpayer against prior years’ tax liability.
Enter on Line 1, Schedule 4, Form 900, the amount of tax
shown on Line 1, Schedule 3, Form 900. Also enter on Line 2,
Schedule 4, Form 900, the amount of Business License taxes
paid by banks and mutual financial institutions on Form PT440
to the county and/or municipality.
If you are required to file more than one return for Business
License taxes, Form PT440, enter on Line 2, Schedule 4, Form
900, the total of Business License taxes shown on all Forms
PT440.
The amount shown on Line 3, Schedule 4, Form 900, represents the total amount of tax credit available for transfer to the
Corporate Income Tax Return, Form 600, to be applied against
the corporate income tax liability. Copies of Form PT440 MUST
be attached to Form 900.
NOTICE: This tax credit is NOT allowable against the corporate net worth tax which is a separate tax, computed on the
corporate income tax return.

STOCK ASSOCIATIONS
Mutual Financial Institutions which have capital stock will be
treated as a bank for State Occupation tax purposes.

ACCOUNTING METHOD
The election of cash or accrual method for computation of
gross receipts will be permitted with filing of the first return.
Subsequent returns must be filed on same basis as elected
with the first return, unless permission to change accounting
method is granted by the Commissioner.

AMENDED RETURNS
Georgia has no special form for the filing of an amended return. Form 900, with attached explanation, should be used
and the checkbox “AMENDED” should be checked. Attach
check to cover any additional tax plus interest at 12 percent
per year. If you are due refund, no further correspondence
will be necessary, as your return will be processed for a
refund of any overpayment of taxes.

INQUIRIES
For forms or additional information on Georgia Financial Institutions Business Occupation Tax Return, Form 900, contact
the Corporate Operations Unit at 1-877-423-6711.
Inquiries about Form PT440 should be directed to the county
and/or municipality imposing the local business tax.