Georgia House of Representatives - 1995/1996 Sessions

HB 37 - Corporate income; gross receipts; calculation

Page Numbers - 1/ 2

1. Buck  135th            2. Royal  164th            3. Jamieson  22nd
4. Skipper  137th         5. Culbreth  132nd


House Comm: W&M        /                Senate Comm:            /                                   
House Vote: Yeas       Nays             Senate Vote: Yeas     Nays                                  
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               House          Action         Senate                                                 
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              1/9/95   Read 1st Time                                                                
              1/10/95  Read 2nd Time                                                                
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Rules Suspended to Introduce                                                                        
                                                                                                    
Code Sections amended: 48-7-31                                                                      


HB 37                                             LC 18 6439






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Code Section 48-7-31 of the Official Code of
  1- 2  Georgia Annotated, relating to the allocation and
  1- 3  apportionment of corporate income, so as to revise and
  1- 4  change the manner in which the gross receipts factor is
  1- 5  calculated; to provide an effective date; to repeal
  1- 6  conflicting laws; and for other purposes.

  1- 7       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1- 8  Code Section 48-7-31 of the Official Code of Georgia
  1- 9  Annotated, relating to the allocation and apportionment of
  1-10  corporate income, is amended by striking subparagraph
  1-11  (d)(2)(C) and inserting in its place a new subparagraph
  1-12  (d)(2)(C) to read as follows:

  1-13        "(C) Gross receipts factor. The gross receipts factor
  1-14        is a fraction, the numerator of which is the total
  1-15        gross receipts from business done within this state
  1-16        during the tax period and the denominator of which is
  1-17        the total gross receipts from business done everywhere
  1-18        during the tax period.  For the purposes of this
  1-19        subparagraph, receipts shall be deemed to have been
  1-20        derived from business done within this state only if:
  1-21        the receipts are received from products shipped to
  1-22        customers in this state or products delivered within
  1-23        this state to customers or the product is shipped from
  1-24        an office, store, warehouse, factory, or other place
  1-25        of storage in this state and the taxpayer is not
  1-26        taxable in the state of the purchaser.  In determining
  1-27        the gross receipts within this state, receipts from
  1-28        sales negotiated or effected through offices of the
  1-29        taxpayer outside this state and delivered from storage
  1-30        in this state to customers outside this state shall be
  1-31        excluded;".

                         SECTION 2.




                                 -1- (Index)

                                                  LC 18 6439

  2- 1  This Act shall become effective upon its approval by the
  2- 2  Governor or upon its becoming law without such approval.

                         SECTION 3.

  2- 3  All laws and parts of laws in conflict with this Act are
  2- 4  repealed.










































                                 -2- (Index)