REVENUE AND TAXATION Definitions

Depository financial institutions subject to state and local taxation as business corporations. Exemption for domestic international banking facilities. [Reserved] Taxation of banks and building and loan associations under article exclusive; exception. Local business license tax on depository financial institutions; tax rate based on Georgia gross receipts; return required; credits. Rate of taxation of moneyed capital competing with national banks. Special state occupation tax on depository financial institutions; tax rate based on Georgia gross receipts; return required; annual report; credits. Exemptions, credits, and deductions from taxation of depository financial institutions filing consolidated returns with parent organization. Taxation of credit unions; legislative intent to tax state and federally chartered credit unions equally. Legislative intent to tax all depository financial institutions equally; interim special tax limitation for savings and loan associations.