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• GEORGIA TAX CREDITS

SERVICES

GEORGIA TAX CREDITS

The State of Georgia has established tax credits for businesses. Unfortunately, many businesses are not aware of these credits, and therefore, do not benefit from them. Following are some of the tax credits that are available to businesses.

• Retraining Tax Credit
• Child Care Tax Credit
• Manufacturer’s Investment Tax Credit
• Research Tax Credit
• Headquarters Tax Credit
• Teleworking Credit

Retraining Tax Credit – Allows some taxpayers to claim a credit for retraining employees to use new equipment, new technology, or new operating systems.  Training can be provided by employer off-site or in-house.  The credit can be worth 50% of the costs of retraining employees up to $500 per employee per approved training program.

            Eligible costs include:

• Direct costs of employer sponsored off-site training
• Employee wages during training
• Travel costs to attend training
• Instructional materials, equipment, and instructor salaries for time in developing and presenting in-house training

Child Care Tax Credit − Employers are eligible for a credit if they provide or sponsor a childcare program. The credit can be worth up-to 75% of the direct costs. The total taxable credit for the year cannot exceed 50% of the taxpayer’s state income tax.

Manufacturer’s Investment Tax Credit − An existing manufacturing or telecommunications services that has operated within the previous 3 years, may receive a tax credit against tax liability. The credit requires approval before claimed and the credit will apply to expenses directly to expenses. The percentage of tax credit can range from 1-8%, based on the invest amount and activities.

Research Tax Credit − Allows businesses such as manufacturing, processing, telecommunications, tourism, warehousing, distribution, or research and development industries to receive a credit for research expenses.

Headquarters Tax Credit − Businesses establishing or relocating their corporate headquarters in  Georgia  are eligible to receive an income tax credit of $5,000 per job per year for five years if the new jobs pay twice the county average wage rate. The following criteria must apply:

• Create at least 50 or more jobs within headquarters
• Within the first year, of the first hire, an investment of $1 million must be spent (includes construction, leasing, renovation, or other cost related to the relocation)

Teleworking Credit − Employers who allow telework may receive a tax credit for expenses, up to $1,200 per eligible employee. An employer may receive a maximum $20,000 credit for conducting a telework assessment for the years 2008 and 2009.

Please contact us for more information regarding these credits.

            Phone: 770.933.7780
            Email: info@rousseau-lin.com

We can assess whether your business is eligible for tax credits in the current year, and the 3 most recent tax years. 
Contact us now. We’re ready to serve you.