What is the difference between an Officer and a Responsible Party?
An Officer is a person the corporation has chosen to be an Officer.
A Responsible Party is a person who has control or supervision of the collecting of trust taxes, such as sales tax and withholding tax. The Responsible Party may be held liable for certain unpaid taxes of the business.
Can someone be both an Officer and a Responsible Party?
Yes, if the person is an Officer and has control or supervision of the business’s finances and the collection of taxes. Therefore, a corporation may select the same person as an Officer and a Responsible Party.
Can a partnership have more than one partner listed as a partner and a responsible party?
Yes, partnerships may have more than one partner listed as partner and Responsible Party.
What are the Accrual and Cash Basis accounting types?
With cash basis accounting, revenues are recognized only when the cash is received, and expenses are recognized only when the corresponding payments are made. With accrual basis accounting, revenues are recognized when they are earned (rather than when the cash is received) and expenses are recognized when they are incurred (rather than when the cash is paid).
Cash Basis Accounting - a company performs work in one year but is not paid for the work until the following year. The revenue is recognized in the following year.
Accrual Basis Accounting - a company performs work in one year but is not paid for the work until the following year. The revenue is recognized in the first year, the year the work is performed and not when the payment was received.
What tax types can you register for online with GTC?
You may use the Georgia Tax Center (GTC) to register for Adult Entertainment, Alcohol License, Composite Tax, Corporate Income Tax, Fireworks Excise Tax, International Fuel Tax, Motor Fuel Distributor Tax, Non-Prepaid 911 charge, Prepaid Wireless 911 Charge, Sales and Use tax, State Hotel-Motel Fee, Tobacco License, Withholding Tax, and Withholding Misc. Film.
Read descriptions of common business tax types.
My corporation is incorporated in another state, must I register with the Georgia Secretary of State?
Contact the Georgia Secretary of State for more information.
How do I obtain a Certificate of Good Standing for my corporation?
Certificates of Good Standing are issued by the Secretary of State.
Where do I find my State Taxpayer Identification Number (STIN)?
Occasionally, businesses, utilities, or other entities may ask for a STIN. This number is located on the Sales Tax certificate of registration.
If your business is not required to file sales and use tax returns and does not have a sales and use tax certificate, contact Taxpayer Services and request a verification of account registration letter.
Department of Revenue Automatically Extending 2019 Filing Deadline
The Georgia Department of Revenue is automatically extending income tax filing and payment deadlines to July 15, 2020. Vehicle registrations that expire between March 16, 2020 and June 14, 2020 are being extended through June 15, 2020.
Business Registration - FAQ
Disclaimer: The Georgia Department of Revenue’s website is meant to be used as an informational guide and shall not be construed as providing any legal or accounting advice. The Department recommends that you consult an attorney or certified public accountant for appropriate guidance.