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 Quality Jobs Tax Credit

For tax years beginning on or after January 1, 2017, Georgia businesses who create at least 50 jobs in a 24-month period , and invest at least $2.5 million in a new qualified project can be eligible to receive the Quality Jobs Credit for up to five years for each job. The credit amount of $2,500 – $5,000 is based on wages paid based on the percentage above the county average. 

For tax years beginning on or after January 1, 2020, the program lowers the 50 job threshold for new jobs created in rural Tier 1 counties (10 jobs), and Tier 2 counties (25 jobs). 

Program Overview

Credit Types

  • Income Tax Tax Credit

  • Can be Used Against Withholding Payments

Credit Amount

-Average Wage for new jobs-

  • 110% but less than 120% – $2,500 per job

  • 120% but less than 150% – $3,000 per job

  • 150% but less than 175% – $4,000 per job

  •  175% but less than 200% – $4,500 per job 

  • >200% – $5,000 per job

    Requirements

    • Minimum increase of 50 jobs (for jobs created prior to January 1, 2020)
    • Minimum $2.5 million investment in a qualified project
    • Full-time employees only (30 hours per week)
    • Jobs must pay 110% of County Average
    • Jobs hired after 01/01/2009
    • Transfers are ineligible

    Duration

    • Claimed for 5 years if jobs are maintained
    • Unused credit can be carried forward for 10 years

    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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