Georgia Top Credits & Incentives
Businesses operating in the State of Georgia have numerous incentives available to help offset the cost of retraining employees, hiring employees, or making new investments. The credits have been around a long time and have helped to shape Georgia’s image as a great place to do business.
Back to Georgia Tax Credits
Georgia Investment Tax Credit
The state of Georgia offers an investment tax credit to established manufacturing and telecommunication companies. Depending on the tier status of the county where the investment takes place, the credit value may vary between 1% and 5%. To be eligible, a company must meet certain criteria:
1. It should have been operating a manufacturing or telecommunications facility in Georgia for at least three years and make a minimum investment of $100,000 in a new or existing manufacturing or telecommunications facility.
OR
2. It should have been operating a corporate office or another supporting facility for a manufacturing or telecommunications company in Georgia for at least three years and make a minimum investment of $100,000 in a new or existing manufacturing or telecommunications facility in Georgia.
- Qualified investment expenses include, but are not limited to:
- Land acquisition
- Investment
- Buildings
- Machinery and equipmenmt to be used in a manufacturing or telecomminications facility
Program Overview
Credit Types
- Income Tax Tax Credit
- Withholding Tax Payments (only for credits generated after January 1, 2020)
Credit Amount
- Tier 1 – 5 – 8% of investment
- Tier 2 – 3 – 5% of investment
- Tier 3 – 1 – 3% of investment
- Tier 4 – 1 – 3% of investment
Requirements
- Minimum investment of $50,000 (Increased to $100,000 for tax years beginning on or after January 1, 2020)
- Must have existed in Georgia for at least three years
- Credit cannot be claimed with the Job tax credit for the same project
Bonuses
- Higher credit percentages are available for investments in recycling, pollution control equipment, or for taxpayers who have increased shipping activity using a Georgia Port
Businesses
Verity works with companies of all sizes and industries to claim the credits and incentives that they have been missing
CPA Firms
Whether working directly with your clients, or white-labeling, Verity has a solution to fit your needs
Payroll Companies
Offer tax credit compliance services to your product offering as a value-add to your clients
Schedule a 20 minute call to discuss your tax credit situation
© 2023 Verity Tax Credits, LLC, all rights reserved
