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Form 966 for Georgia: What You Should Know
Corporations are required to file a federal income tax return. The amount you tax will depend on your annual income and tax preferences, income from other sources, and whether your corporation maintains a real estate subsidiary or not. Generally, you will notice that the amount is significantly higher for corporations than those of individuals, which is because of tax advantages that the corporation can enjoy due to corporate laws and regulations. For example, a corporation may receive 1 from your dividend every year and not pay federal income tax on that dollar. You may also not realize any state income tax on their capital gains, dividends, or real estate investments. The Georgia Tax Commission is committed to making sure that every taxpayer does not pay unnecessary tax. The Georgia Tax Commission maintains this website and guides the public on certain taxes that most people are unaware of.
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