The Georgia Job Tax Credit incentivizes business growth, particularly in Georgia’s rural and undeveloped areas, by offering financial benefits for local expansion and job creation.
Businesses must be in a qualified industry or in designated county tiers and create and retain anywhere from 2 to 25 new full-time jobs in a tax year to qualify for this credit.
Credits range from $750 to $4,000 per new full-time job created and retained, extending for a period of up to five years from the year in which the new full-time job is created.
Tier 1: Least Developed
Tier 2: Moderately Developed
Tier 3: Developed
Tier 4: Most Developed
The Georgia Quality Jobs Tax Credit is designed to encourage businesses to provide quality well-paying jobs across Georgia. There are no limitations on the industries that can claim this credit.
Businesses can qualify by creating and maintaining 10 to 50 new “quality jobs” (depending on the county tier or designated special zone). A “quality job” is defined as position as paying at least 110% above the county’s average wage.
Credits range from $2,500 to $5,000 per quality job created and retained, available for a five-year period starting from the date the quality job was created.
| TIER & STATUS | MINIMUM NEW JOBS | TIME PERIOD TO CREATE JOBS |
|---|---|---|
| Tier 1, Rural | 10 | 12 months |
| Tier 2, Rural | 25 | 12 months |
| Remaining Counties | 50 | 24 months |
The Investment Tax Credit effectively reduces capital expenditure costs, enabling businesses in the manufacturing and telecommunications sectors to undertake financially viable projects that may otherwise be economically challenging.
Depending on the county tier, the credit amount ranges from 1% to 5% of qualified investment expenses. To qualify, the businesses must also make a minimum investment of $100,000 in a new or existing facility.
This credit is limited to businesses in the manufacturing and telecommunications industries.
Synergi can help you evaluate your data to determine whether you qualify for these Georgia incentives. Our team performs a thorough calculation and provides detailed reporting, enabling you to claim the credit. We do the heavy lifting so you can focus on running your business.
Contact us today if you expect to or have experienced hiring or investment growth in Georgia and would like more information on how Synergi can assist your business.
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