X
X

Find Your Specialist

X

Contact Us

Go Back

Georgia Tax Credits

Georgia Income Tax Credits – Are they in your wallet?

The State of Georgia provides over 30 income tax credits for a broad variety of business activities. Income tax credits have many nuances and generally target specific regions, industries, and business activities.

State policy makers enact tax credits as an incentive for economic stability and growth. Georgia’s initial tax credits were enacted in the early 1990s, and almost every year since inception the credit laws have been enhanced, modified or revised. What began as a job creation tax credit for the 40 lesser developed counties of the state has grown into over 30 cash saving tax credits that are quite often overlooked by businesses.

Is your company taking full advantage of tax credits for which you are eligible? If you’re not sure, consider some of the activities that may trigger Georgia Income tax credits:

  • Job creation
  • Capital investment
  • Research and development expenses
  • Employer provided training
  • Employer provided childcare
  • Employer provided transportation
  • Utilizing the Georgia Ports
  • Purchasing low or zero emissions vehicle
  • Installation of electric vehicle charger
  • Qualifying film or entertainment production expenses
  • Installation of clean energy property
  • Donation of real property that qualifies as conservation land
  • Qualified educational expenses
  • Employer qualified health insurance expenses
  • Qualified “Angel” investor

Georgia is considered “business friendly.” This simply means the state provides options – in some circumstances – for utilizing tax credits. In most cases the credits are used to offset the income tax liability, but some credit policies allow for the credit to offset Georgia employer’s withholding tax. There are also some tax credits that may be sold or transferred to another Georgia taxpayer. As mentioned above, there are a number of nuances to the Georgia tax credits and it may benefit you to seek assistance from a professional with experience in this area.

We assist companies with the identification, quantification and tax planning for the utilization of Georgia tax credits. If you would like to consult with one of our State and Local tax experts, please contact Carlton Huntley at 404.573.4260 or via email Carlton.Huntley@frazierdeeter.com.

Related Articles

Privacy Overview

When you use or access the Site, we use cookies, device identifiers, and similar technologies such as pixels, web beacons, and local storage to collect information about how you use the Site. We process the information collected through such technologies, which may include Personal Information, to help operate certain features of the Site (e.g., to prevent online poll participants from voting more than once), to enhance your experience through personalization, and to help us better understand the features of the Site that you and other users are most interested in.

You can enable or disable our use of cookies per category.

When you use or access the Site, we use cookies, device identifiers, and similar technologies such as pixels, web beacons, and local storage to collect information about how you use the Site. We process the information collected through such technologies, which may include Personal Information, to help operate certain features of the Site (e.g., to prevent online poll participants from voting more than once), to enhance your experience through personalization, and to help us better understand the features of the Site that you and other users are most interested in.

You can enable or disable our use of cookies per category.

Necessary Always Enabled

Essential cookies enable you to navigate our Site and use certain features, such as accessing secure areas of our Site and using other features of our service that require us to keep track of certain information as you navigate from page to page. Although some of these cookies are “required” to enable certain functionality, you can disable them in the browser, but doing so will limit your ability to use the features supported by such cookies.

Functionality cookies are cookies that support features of the Site, such as remembering your preferences.

These cookies collect information about how you use our Site, including which pages you go to most often and if they receive error messages from certain pages. These cookies are only used to improve how our Site functions and performs.

From time-to-time, we may engage third parties that track individuals who visit our Site. These third parties may track your use of the Site for purposes of providing us with certain marketing automation features (to help us improve our outreach to current and prospective clients) and providing you with targeted advertisements.