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

Authority

• O.C.G.A. § 48-7-40.2
• O.C.G.A. § 48-7-40.3
• O.C.G.A. § 48-7-40.4
• DOR Regulation 560-7-8-.37
• HB 224

Also, See

Employee Retention Tax Credit (ERTC) Service

How do you claim the ERC?