LTRH FMO-KF
Notice ITD-2026-001
RE: Proposal to Amend Rules 560-7-4-.01 and 560-7-8-.34.
TO ALL INTERESTED PERSONS AND PARTIES:
In compliance with O.C.G.A. § 50-13-4, the Georgia Department of Revenue gives notice that it proposes to amend Rules 560-7-4-.01 and 560-7-8-.34.
Attached to this notice are an exact copy and synopsis of the proposed Rule. The proposed Rule is being amended under the authority of O.C.G.A. §§ 48-2-12, 48-7-27, & 48-7-129.
The Department of Revenue will consider the proposed amendment of the above Rule at a remote regulation hearing held at 10:00am on Thursday, March 5, 2026, which can be accessed through the following link: https://meet.goto.com/247197533 or via telephone at +1 (571) 317-31161 866 899 4679 (local) and 1 866 899 4679 (toll-free) with the access code: 247-197-533. At the beginning of the hearing, attendees will be required to announce themselves and notify the Department if they plan to make oral comments during the hearing.
The Department must receive all comments regarding the above-referenced Rule from interested persons and parties no later than 10 a.m. on March 5, 2026. Electronic comments must be sent to [email protected]. Please reference “ITD-2026-001” on all comments.
SYNOPSIS
GEORGIA DEPARTMENT OF REVENUE
INCOME TAX DIVISION
CHAPTER 560-7-4
NET TAXABLE INCOME (INDIVIDUAL). AMENDED
560-7-4-.01. Net Taxable Income (Individual). Amended
This regulation is being amended to change the form required for forgoing a net operating loss carryback. For tax years beginning on or after January 1, 2023, the net operating loss must be listed on a Form 500 individual return application schedule. For tax years beginning prior to January 1, 2023 Form 500-NOL will continue to be used.
CHAPTER 560-7-8
RETURNS AND COLLECTIONS
560-7-8-.34 Withholding on Nonresident Members of Partnerships, S Corporations, and Limited Liability Companies; Composite Return Alternative
This regulation is being amended in conformity with changes made in S.B. 56 (2023).
Paragraph (3)(c) amends the three options available to individual taxpayers for computing the composite tax. For tax years beginning on or after January 1, 2024, the options are amended to consider changes in the individual tax rate applicable under O.C.G.A. 48-7-20 and the elimination of the personal exemption factor under Option 2.
Paragraph (6)(c) is amended to require the additional withholding forms, if applicable, to be submitted with Form G 1003 to the Department of Revenue.
