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.
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Georgia R&D Tax Credit
Discover the benefits of the Georgia R&D Tax Credit program. Enhance your business’s innovation with substantial tax savings, rewarding you for developing new products and processes. Companies engaged in research and development activities can qualify for tax credits. The value of these Georgia R&D tax credits for eligible industries is determined annually based on qualifying expenditures. Such expenditures might encompass the purchase of materials and supplies, fees for contracted work, and portions of wages and salaries for staff directly involved in managing and supporting R&D activities. These qualifying expenses can also extend beyond activities related to new product development.
Program Overview
Credit Types
- Income Tax (up to 50% of liability); any excess may be used to offset the company’s state payroll withholding. claimed, but unused credits may be carried forward for 10 years
Credit Amount
- 10% of the qualified R&D expenditures minus a base amount
Authority
Qualifying Industries
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