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). JUDICIAL DECISIONS Alternative means of computing Georgia-derived income. — Former Code 1933, §§ 92-3114 and 92-3115 (see now O.C.G.A. §§ 48-7-34 and 48-7-35) confer upon nonresidents and corporations the right to seek alternative methods of determining their Georgia-derived income when such methods would more accurately reflect that income than would former Code 1933, § 92-3113 (see now O.C.G.A. § 48-7-31). Henry C. Beck Co. v. Blackmon, 131 Ga. App. 634, 206 S.E.2d 842, 1974 Ga. App. LEXIS 1501 (1974), aff'd, 233 Ga. 412, 211 S.E.2d 711, 1975 Ga. LEXIS 1324 (1975). Under former Code 1933, §§ 92-3114 and 92-3115 (see now O.C.G.A. §§ 48-7-34 and 48-7-35) that part of the net income of a corporation engaged in the business of manufacturing or selling tangible personal property in this state, and elsewhere, which should be allocated and apportioned to this state, may be determined. This is especially true when such a corporation in the corporation’s regular business activities did not have all of the factors of the three factor formula in former Code 1933, § 92-3113 (see now O.C.G.A. § 48-7-31). State v. Coca Cola Bottling Co., 212 Ga. 630, 94 S.E.2d 708, 1956 Ga. LEXIS 475 (1956). Commissioner not empowered to select basis for return when no request made. — No power is granted to the commissioner to decide personally, when no request is made, whether another formula would be more indicative of a taxpayer’s tax situation. Henry C. Beck Co. v. Blackmon, 131 Ga. App. 634, 206 S.E.2d 842, 1974 Ga. App. LEXIS 1501 (1974), aff'd, 233 Ga. 412, 211 S.E.2d 711, 1975 Ga. LEXIS 1324 (1975). OPINIONS OF THE ATTORNEY GENERAL Taxpayer may amend unauthorized filing. — Company which files the company’s income tax return under former Code 1933, § 92-3114 (see now O.C.G.A. § 48-7-34), which return was accepted by the commissioner, although no express consent was given by the latter permitting the filing under former § 92-3114, may nevertheless within the statute of limitations amend the company’s return by filing under former Code 1933, § 92-3113 (see O.C.G.A. § 48-7-31) and procure any refund to which the company may be entitled since the first filing was unauthorized and therefore did not work an estoppel. 1952-53 Ga. Op. Att'y Gen. 434. RESEARCH REFERENCES Am. Jur. 2d. 71 Am. Jur. 2d, State and Local Taxation, § 463. C.J.S. 85 C.J.S., Taxation, §§ 2003, 2004, 2042 et seq.