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 Port Bonus Tax Credit
The bonus for the Georgia port tax credit can be combined with either the job tax credit or the investment tax credit, given the company satisfies the prerequisites for either of these programs. Furthermore, the company must demonstrate an increase in import or export activities via Georgia’s deepwater ports during a specific tax year and by a predetermined amount.
Program Overview
Credit Types
- Bonus to the Georgia Job and Georgia Investment Tax Credits
- Can be used to offset up to 50% of corporate income tax liability.
Credit Amount
-Bonus to Georgia Job Tax Credit-
- Additional $1,250 per job
-Bonus to Georgia Investment Tax Credit-
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Claim all eligible investments at 5-8%
Requirements
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Must be eligible for Georgia Jobs Tax Credit or Georgia Investment Tax Credit
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Must increase port activity by 10%
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Base year port traffic must be at least 75 tons; or 5 containers; or 10 TEUs (Twenty-foot Equivalent Units)
Duration
- Unused credit can be carried forward for 10 years
Authority
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
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