Taxes and State of Georgia Incentives
The state of Georgia attracts successful companies due to a pro-business environment, a talented workforce, world-class infrastructure and unparalleled access to the world market. Georgia offers a performance-based package of business assistance designed to foster success for companies and the Georgia communities they call home.
Here are highlights from just few of the many Incentives and Programs offered. For a comprehensive list of Georgia Business Incentives and Programs click here:
Jobs Tax Credit
Strategic industries such as distribution, technology, manufacturing, telecom, processing companies and their headquarters qualify for Georgia’s Job Tax Credit. Depending on the community’s tier, companies must create between five and 25 net new jobs per year to qualify. For each year (up to five years) the jobs are maintained, qualified companies can claim a tax credit with a value of $750 – $3,500 per job, per year.
R&D Tax Credits
10% of a company’s increased qualified research and development expense over its gross receipts may be claimed as a tax credit. Georgia taxpayers must qualify for a research credit under the IRS code to be eligible. Emerging companies can apply for the credit to offset their payroll withholding once all other tax liability has been exhausted for their first five years.
Small Business Tax Relief
Georgia now allows small businesses making capital investments of less than $410,000 to write off up to $102,000 of these expenses in the current year. For capital investments greater than $410,000 the tax write-off is reduced dollar for dollar.
Sales and Use Tax Exemption
Qualified equipment purchases are exempt from sales tax when the equipment purchased is used in the manufacturing process.
Inventory Tax Exemption
Under Georgia’s local option “Freeport” law 100% of qualified raw materials, work-in-process and finished goods are exempt from property tax.
Georgia’s nationally ranked employee training program, Quick Start, provides customized training for new employees in skill-based jobs at no cost to qualifying companies. The training program is given to the company for its future use. Quick Start provides training space, instructors and all needed materials related to the program, potentially saving companies millions of dollars in training costs.
Georgia Work Ready Hiring Assistance Program
Georgia Work Ready can help you hire the best people and boost your bottom line. It's available at no cost for companies meeting minimum hiring requirements and is easy to access through the state's network of technical colleges. Georgia companies can implement Work Ready two ways - through job profiling and Work Ready Certificates. Work Ready job profiles identify the job tasks and skill levels necessary to be successful in any job. Companies match those profiles to employees' Work Ready Certificates - which measure core skills - to ensure the right person is placed in the right job every time.