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Georgia State Code
Title      48
Chapter       5  
Section Navigation     1 ... 7.3       7.4 ... 15    
  15.1 ... 24         25 ... 33    
    40 ... 47       47.1 ... 52    
  52.1 ... 73         74 ... 83    
    84 ... 106       107 ... 126   
 126.1 ... 134       135 ... 143   
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   164 ... 202       203 ... 222   
   223 ... 232       233 ... 242   
   260 ... 268       269 ... 291   
   292 ... 299.1     300 ... 308   
   309 ... 341       342 ... 349.1 
 349.2 ... 355       356 ... 400   
   401 ... 424       425 ... 447   
   448 ... 473       474 ... 492   
   493 ... 508         509 ... 518   
   519 ... 543       544 ... 546     
Section<<< 509 510 511 512 513 514 515 516 517 518 >>>  
Title 48, Chapter 5, Section 511 (48-5-511)

(a) The chief executive officer of each public utility shall be required to make an annual tax return of all property located in this state to the commissioner. The return shall be made to the commissioner on or before March 1 in each year and shall be current as of January 1 preceding.

(b) The returns of each public utility shall be in writing and sworn to under oath by the chief executive officer to be a just, true, and full return of the fair market value of the property of the public utility without any deduction for indebtedness. Each class or species of property shall be separately named and valued as far as practicable and shall be taxed like all other property under the laws of this state. The returns shall also include the capital stock, net annual profits, gross receipts, business, or income (gross, annual, net, or any other kind) for which the public utility is subject to taxation by the laws of this state.

(c)(1) Each chief executive officer shall apportion, under rules and regulations promulgated by the commissioner, the fair market value of his public utility's properties to this state, if the public utility owns property in states other than this state, and between the several tax jurisdictions in this state.

(2) In promulgating the regulations specifying the method of apportionment, the commissioner shall consider:

(A) The location of the various classes of property;

(B) The gross or net investment in the property;

(C) Any other factor reflecting the public utility's investment in property;

(D) Pertinent business factors reflecting the utility of the property;

(E) Pertinent mileage factors; and

(F) Any other factors which in the commissioner's judgment are reasonably calculated to apportion fairly and equitably the property between the various tax jurisdictions.

(3) Any reasonable value directly attributable to property physically located in one jurisdiction in this state shall not be apportioned to any other jurisdiction in this state.

Saturday May 23 14:48 EDT


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