Georgia’s Net Worth Tax: A Guide for Corporations
Georgia has a unique tax, the Net Worth Tax, levied on corporations based on their net worth.
Key Considerations for Georgia’s Net Worth Tax
The tax is calculated using a graduated scale:
- 0.05% for net worth up to $500,000
- 0.07% for net worth exceeding $500,000
Companies with a net worth over $50,000 must pay this tax, with a maximum liability of $5,000.
High Net Worth Tax Residency in Georgia
Georgia offers a High Net Worth Individual (HNWI) tax residency program that provides significant tax advantages:
- Flat income tax rate of 20%
- Exemption from capital gains tax on foreign-sourced income
- Tax exemption on dividends and interest from foreign companies
Net Worth Tax Return Form in Georgia
Corporations must file Form 600 for both corporate income tax and net worth tax.
- Corporations with a net worth under $100,000 are exempt from the tax but still required to file Form 600.
- The filing deadline is the 15th day of the fourth month after the taxable year ends.