Why this matters
Georgia’s election is made on the applicable entity return by its due date, including a valid extension, and becomes irrevocable after that deadline. Owners should coordinate the state return with their individual returns and estimated payments.
Example
A partnership considering the election should model the Georgia entity tax and each owner’s return before filing Form 700. An election that helps one owner may have a different effect on another.
What to review
Review eligibility, owners’ residency, income allocation, election deadline, estimates and current Georgia instructions.
Official source: dor.georgia.gov/hb-149-pass-through-entity-tax-faq