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Georgia State and Local Tax (SALT) Alerts

State and Local Tax Insights

Confidentiality of Taxpayer Information | Guidance on the Exclusion of Foreign Dividends

  • The Georgia Dept. of Revenue (DOR) has issued a bulletin detailing its obligation to maintain the confidentiality of taxpayer information, as well as its authority to disclose such information. The bulletin explains Georgia laws concerning the circumstances under which DOR personnel are permitted to disclose taxpayer and return information to a third party, the procedures for obtaining and revoking a taxpayer’s express written authorization to disclose taxpayer and return information to a third party, and the procedures and guidelines for DOR personnel regarding the handling, retention, and destruction of taxpayer and return information. For additional information: https://bit.ly/30l4aXg
  • Georgia updates guidance on the exclusion of foreign dividends. The Georgia Dept. of Revenue has updated its policy bulletin on the exclusion of dividends from sources outside the United States. Only federal C corporations are allowed the exclusion. An S corporation isn’t allowed the exclusion, because the related federal income is treated as being received at the ultimate recipient level. An S corporation that’s considered a C corporation for Georgia purposes also isn’t allowed a Georgia exclusion, because the income is separately stated and is combined only to pay the tax at the entity level. For more information and a Q&A: https://bit.ly/2Zgh9rG

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