Georgia Job Tax Credits
The Georgia Job Tax Credit Program is a statewide program that started in 2011 to promote a healthy economy by encouraging businesses to move or expand their companies to Georgia. Job tax credits reward companies for hiring full-time employees. In Georgia, eligible companies for this program could generate up to $4,000 per employee per new job credits for up to five years.
Businesses can get up to $4,000 per job created
100% usage against Georgia income tax liability
Unused tax credits can carry-forward for 10 years
Excess tax credits can convert to withholding tax credits
Bonus tax credits up to $1,250 per year for qualified businesses
Flow-through to owners, shareholders, members, and partners
Georgia Retraining Tax Credits
The Georgia Retraining Tax Credit Program is a statewide program that began to help foster profitability of Georgia’s existing businesses by encouraging workforce development through tax incentives.
Retraining tax credits allow companies to diminish cost of retraining employees that are affected by the implementation of new equipment and software.
Equal to one half of the direct cost of retraining.
Up to $500 per approved training program per year for each full-time employee who has successfully completed an approved retraining program. The credit amount should not exceed $1,250 per year per full time employee who has successfully completed more than one approved retraining program.
Up to 50 per cent of the amount of taxpayer’s income tax liability for the taxable year as computed without regard to this credit.