---
title: O.C.G.A. § 48-7-34. Returns of corporations and nonresidents based upon books of account; application to commissioner; time; contents.
collection: code
id: 48-7-34
cite_as: O.C.G.A. § 48-7-34 (2025)
canonical_url: https://georgiacommons.org/code/48-7-34
md_url: https://georgiacommons.org/code/48-7-34.md
text_url: https://georgiacommons.org/code/48-7-34/text
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date: 2025
status: active
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publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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heading_path: REVENUE AND TAXATION / INCOME TAXES / IMPOSITION, RATE, COMPUTATION, EXEMPTIONS, AND CREDITS
---

# O.C.G.A. § 48-7-34. Returns of corporations and nonresidents based upon books of account; application to commissioner; time; contents.

If any corporation or nonresident employs in its books of account a detailed allocation of receipts and expenditures which reflects more clearly than the processes or formulas prescribed by this chapter the income attributable to the trade or business within this state, application for permission to base its return upon the books of account shall be considered by the commissioner. The application shall be made at least 60 days prior to the last day on which the taxpayer’s return is to be filed and shall be accompanied by a full and complete explanation of the method employed.

## History

Ga. L. 1931, Ex. Sess., p. 24, § 16; Ga. L. 1931, p. 7, § 85; Code 1933, § 92-3114; Code 1933, § 91A-3612, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1987, p. 191, § 2.

## Editor's Notes

Ga. L. 1987, p. 191, § 10, not codified by the General Assembly, provides that this Act is applicable to taxable years ending on or after March 11, 1987, and that a taxpayer with a taxable year ending on or after January 1, 1987, and before March 11, 1987, may elect to have the provisions of that Act apply.

Ga. L. 1987, p. 191, § 10, not codified by the General Assembly, also provided that tax, penalty, and interest liabilities and refund eligibility for prior taxable years shall not be affected by that Act.

Ga. L. 1987, p. 191, § 10, not codified by the General Assembly, also provided that provisions of the federal Tax Reform Act of 1986 and of the Internal Revenue Code of 1986 which as of January 1, 1987, were not yet effective become effective for purposes of Georgia taxation on the same dates as they become effective for federal purposes.

## Law Reviews

For article, “Foreign Corporations in Georgia,” see 10 Ga. St. B.J. 243 (1973).