Specialty Tax Group

GEORGIA TAX CREDITS

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Georgia Tax Credits

Job Tax Credit (JTC)

Creating new jobs in Georgia is a good way to reduce (and potentially eliminate) your company's corporate tax liability.

New and expanding companies may earn Job Tax Credits (JTC) for creating new jobs in Georgia. The JTC gives a qualified company a credit ranging from $1,250 to $4,000 per year for 5 years for every new job created.

Retraining Tax Credit (RTC)

The retraining tax credit allows Georgia businesses to offset their investment in their employees, reduce their Georgia income tax liability, and increase cash flow.

The Georgia Retraining Tax Credit is a state credit available to companies that train their employees on new software, equipment, and technology as well as upgrading the company’s competitiveness with ISO 9000. The method of training can vary and includes vendor-led, webinars, peer-to-peer, or even on-the-job self-learning. The credit calculation is reviewed and signed off on by the state prior to filing on the tax return.

Retraining tax credits can be used to offset up to 50 percent of a company’s Georgia corporate income tax liability. If the earned credit exceeds that limit, then the unused credit can be

carried forward for up to 10 years and applied to future years’ tax liability.

Investment Tax Credit (ITC)

Investment tax credits help Georgia businesses grow by making it more affordable to expand and improve facilities.

Companies in manufacturing or telecommunications support that have operated in Georgia for at least three years are eligible to earn investment tax credits for upgrades or expansions. Credit earned amounts to 1 percent to 8 percent of qualified capital investments. Companies should compare the benefits of the investment tax credit with those of the job tax credit, as taxpayers are allowed to claim one or the other, but not both.