Compilation of Rules and Regulations of the State of Georgia
Department 560 - RULES OF DEPARTMENT OF REVENUE
Chapter 560-7 - INCOME TAX DIVISION
Subject 560-7-7 - TAXES
Rule 560-7-7-.01 - Credits Against Taxes

Universal Citation: GA Rules and Regs r 560-7-7-.01

Current through Rules and Regulations filed through September 23, 2024

(1) A resident individual having income from property owned, personal services, business done, or other activities in other States, and who pays income tax in more than one other State, shall combine into a single item the total of such taxable income and tax paid in the other States to determine the allowable credit.

(2) The amount of income, amount of personal exemption, net taxable income, computation of tax, and the total tax shown as due and paid to other States must in each instance be in accordance with actual returns filed in such other states. Credits allowed by the other States reduce the tax paid in the other States and therefore reduce the amount eligible for the credit.

(3) The District of Columbia shall be considered a State for purposes of this credit.

O.C.G.A. Secs. 48-2-12, 48-7-28, 92-3005, 92-3006, 92-8405, 92-8406, 92-8409, 92-8427.

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