Tax Credits
Job Creation: Businesses engaged in manufacturing, warehousing and distribution, telecommunications or Research & Development (R&D) are eligible for a tax credit of $750 to $3,500 (USD) for each new job created. The amount of the tax credit depends on the economic status of the county where the jobs are created, and each qualified job tax credit is valid for five years and thus worth $3,750 - $17,500 (USD) per job created. There is a 10-year carry-forward provision for future application of this tax credit against corporate income tax liability.
Joint Development Authorities: Many county authorities cooperate to attract investment. In those counties that belong to these joint development authorities, there is an additional $500 (USD) value associated with each qualified job tax credit, and each is valid for five years, thus worth $2,500 (USD) per job created. There is a 10-year carry-forward provision.
Georgia Ports: Those businesses which increase their use of Georgia ports by objective and measurable amounts over a 12-month period qualify for an additional $1,250 (USD) for each job tax credit. This tax credit is valid for five years and thus worth $6,250 (USD) per job created. There is a 10-year carry-forward provision.
Investment (< $5 million): Those businesses which have operated manufacturing, warehousing and distribution, telecommunications or R&D facilities in Georgia for three years are eligible for a tax credit of one percent to five percent of the amount for industrial investments of $50,000 (USD) or more. The amount of the investment tax credit depends on the economic status of the county where the capital investment is made. It is valid for one year only with a 10-year carry-forward provision.
Investment (> $5 million): Those businesses which have operated manufacturing, warehousing and distribution, telecommunications or R&D facilities in the state for three years and are planning investments of over $5 million (USD) are eligible for a tax credit of six percent to ten percent, depending on the economic development level of the county in which the investment is made. The investment tax credit is valid for one year only with a 10-year carry-forward provision.
Headquarters: Companies establishing or re-locating their principal headquarters to Georgia may be entitled to a tax credit if the company invests at least $1 million (USD) and creates 50 new jobs within one year. The credit is $2,500 (USD) annually per job or $5,000 (USD) if the average wage of the new jobs is the doubled average wage of the county in which the new jobs are located. The Headquarters Tax Credit is valid for five years and thus worth $2,500 (USD) per job created (a minimum of $625,000 (USD) based on the 50 minimum jobs required). There is a 10-year carry-forward provision.
For more information on specific tax credits, please visit Georgia Business Development Incentives or contact the regional office nearest you. (link to the contacts page)