![]() of Revenue has posted its 2022 Employer’s Tax Guide, which includes new withholding tax tables to be used in 2022. The Tax Tribunal noted that the statute allowing the QJTC doesn’t contain limitation language that requires the filing of corporate income tax returns to be eligible for the QJTC. As a nonprofit, the taxpayer filed state exempt organization business tax returns and claimed the QJTC on its state income tax return. In this case, the taxpayer didn’t file corporate income tax returns or pay corporate income tax. The Georgia Tax Tribunal has ruled that a Georgia-based nonprofit is eligible to claim the Georgia Quality Jobs Tax Credit (QJTC) and that the credit could apply to new quality jobs that don’t produce unrelated business income.They’re required to carry back the NOL because they carried it back on their federal return, but the statute of limitations had expired when the amended state return was filed. Initially, the taxpayers didn’t carry back the NOL on their Georgia tax return, even though they did so on their federal return. The Tribunal determined that the statute of limitations properly bars the remainder of the taxpayers’ refund that could have resulted if the taxpayers had carried an NOL back to 2013 within the allotted time. The Georgia Tax Tribunal has affirmed assessments against taxpayers arising from disallowed net operating loss (NOL) deductions and interest.Georgia State & Local Tax (SALT) Alerts.Corporate Accounting | Accounting Support.Forensic Accounting & Insurance Claims Services.Litigation Support & High-Net-Worth Divorce Services. ![]() Individual Tax Consulting And Compliance.Corporate Tax Consulting & Compliance | Credits & Incentives.
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