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 Investment Tax Credit

Manufacturers and Telecommunications companies who have operated in the state of Georgia for the prior three years can be eligible to recover the costs of investing in land acquisitions, improvements, buildings, and machinery and equipment used in a qualified 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% of investment
  • Tier 2 – 3% of investment
  • Tier 3 – 1% of investment
  • Tier 4 – 1% 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

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