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Secretariat > Reports, May 30, 2003
Secretariat
A Review of Economic and Industrial
Development Programs in the State of Georgia
Tax Based Programs
Map of Georgia (PDF)
Georgia Tax Credit for Adult Basic Skills Education
Job Tax Credit / Development Authority Bonus/ Port
Authority Bonus/ Retraining Tax Credit
Investment Tax Credit
Optional Investment Tax Credit
Port Activity Job Tax and Investment Tax Credit
Bonus
Research and Development Tax Credit
Child Care Facility Tax Credit
Tax Exemptions
Georgia Tax Credit for Adult
Basic Skills Education
- Basic education skills up to the 12th grade level
- Credit equal to 1/3 of the costs of education per full-time equivalent
student or $150.00 per full-time equivalent student, whichever is
less for each student who successfully completed the program.
Job Tax Credit/ Development
Authority Bonus/ Port Authority Bonus/ Retraining Tax Credit
| Tier |
Jobs Tax Credits |
Full time jobs (minimum) |
Use of Credits |
Duration of Credit |
Forward |
Development Authority Bonus |
Port Authority Bonus |
Retraining Tax Credit |
| 1 |
$3,500 per job |
5 |
100% of tax liability - excess to withholding tax |
Annually for 5 years |
10 years |
$500 |
$500 |
$500 per full time to max of 50% of state tax |
| 2 |
$2,500 per job |
10 |
100% of tax liability |
Annually for 5 years |
10 years |
$500 |
$500 |
full time to max of 50% of state tax |
| 3 |
$1,250 per job |
15 |
50% of tax liability |
Annually for 5 years |
10 years |
$500 |
$500 |
full time to max of 50% of state tax |
| 4 |
$750 |
25 |
50% of tax liability |
Annually for 5 years |
10 years |
$500 Joint |
$500 |
full time to max of 50% of state tax |
|
| Tier |
Credits |
Limits of Credits |
Forward |
Minimum Investment |
| 1 |
5% |
50% of tax liability |
10 years |
$50,000 |
| 2 |
3% |
50% of tax liability |
10 years |
$50,000 |
| 3 |
1% |
50% of tax liability |
10 years |
$50,000 |
| 4 |
1% |
50% of tax liability |
10 years |
$50,000 |
|
Optional Investment Tax Credit
| Tier |
Optional Investment Credit |
Limits of Credits |
Forward |
Minimum Investment |
| 1 |
10% |
100% of tax liability |
10 years |
$5 million |
| 2 |
8% |
100% of tax liability |
10 years |
$10 million |
| 3 |
6% |
100% of tax liability |
10 years |
$20 million |
| 4 |
6% |
100% of tax liability |
10 years |
$20 million |
|
Port Activity Job Tax and Investment
Tax Credit Bonus
| Tier |
Credit per Job |
Investment Tax Credit % |
Optional Investment Tax Credit % |
| 1 |
$4,000 per job |
5% |
10% |
| 2 |
$3,000 per job |
5% |
10% |
| 3 |
$1,750 per job |
5% |
10% |
| 4 |
$1,250 per job |
5% |
10% |
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Research and Development
Tax Credit
- Tax credit of 10% of the additional expense over the "base amount"
for research conducted within Georgia
- Credit may be carried over 10 years
- Tax credit may not exceed 50% of the business's net tax liability
in any one year
Child Care Facility Tax Credit
- Up to 75% of employers direct cost of child care
- Carry forward 5 years
- Purchase of child care property receives 100% tax credit of cost
at a rate of 10% yearly for 10 years
- Credit cannot exceed 50 % of state income tax liability
Tax Exemptions
- Property Tax Exemptions
- Industrial Materials Sales Tax Exemptions
- Manufacturing Sales Tax Exemption
- Computer Hardware and Software Sales Tax Exemptions
- Pollution Control Equipment Sales Tax Exemption
- Cleanroom Equipment Sales Tax Exemption
- Primary Material Handling Equipment Sales Tax Exemption
- Inventory (Freeport) Sales Tax Exemption
- Electricity Exemption
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