Incentives
Georgia provides a wide variety of statutory and negotiated incentives for eligible projects. As an active and interested business partner, Georgia will work with companies to provide the most attractive incentive packages, commensurate with project needs and resource availability.
Job Tax Credit - Camden County has designation of Tier 3 for JTC's.
This credit applies to businesses or headquarters of a business engaged in manufacturing, warehousing and distribution, processing, tourism, or research and development industries: it does not include retail businesses. When your company creates 15 or more new jobs, you can receive a $1,500 tax credit for 5 years for each new job created. To be eligible, the company must als
In addition: Businesses located within the boundaries of a recognized JDA are entitled to an additional $500 per job in JTC benefits.
Ports Activity Job Tax/Investment Tax Credit
If a business enterprise (engaged in manufacturing, warehousing and distribution, processing, tourism, or research and development industries) increases its Georgia port traffic of product during the previous 12 month period by more than 10% above its base year and has created 15 or more new jobs, that business will be allowed a total $3,000 credit per-job-created for five years following the first year in which the jobs were created (assuming the increase in port traffic is maintained).
To be eligible, the company must also (a) provide an average wage that is 10% higher than the average wage in the lowest Georgia County ($256 in 2002) and (b) make health insurance available.
Note: Base year Georgia port traffic must be at least 75 net tons, five containers, or 10 TEUs.
Companies that create 400 or more new jobs, invest $20 million or more in new and expanded facilities, and increase their Georgia port traffic by more than 20% above their base year may take both job tax credits and investment tax credits.
These credits cannot exceed 50% of a business' state income tax liability in one year. However, they may be carried forward up to 10 tax years assuming the increase in jobs, investment and Georgia port traffic are maintained above the threshold levels.
Special Headquarters Tax Credit
Provides a special job tax credit for new corporate headquarters facilities that employ 50 or more persons in new full-time jobs and incur, within one year, a minimum of $1 million in the state in construction, renovation, leasing or other costs related to such establishment or relocation ("Headquarters" means the principal central administrative office of any taxpayer or their subsidiary).
The tax credit will be:
This credit may be taken for the first five years of the new job, and is available for jobs created in the first seven years from the close of the taxable year in which the taxpayer first becomes eligible. Where the credit exceeds a taxpayer's liability for such taxes, the excess may be taken as a credit against the taxpayer's quarterly or monthly payments. Unused tax credits may be carried forward for 10 years.
Child Care Tax Credit
Employers who provide or sponsor childcare for full or part-time employees are eligible for a tax credit of 75% of the direct cost of operation to the employer less any payments made to the employer.
The credit cannot exceed more than 50% of the taxpayer's total state income tax liability for that taxable year. Any credit claimed but not used in any taxable year may be carried forward for five years from the close of the taxable year in which the cost of the operation was incurred.
Also available is a credit that allows you to deduct 10% of the cost of building/equipping a day care facility over 10 years (100%).
This credit applies to businesses or headquarters of a business engaged in manufacturing, warehousing and distribution, processing, tourism, or research and development industries: it does not include retail businesses. When your company creates 15 or more new jobs, you can receive a $1,500 tax credit for 5 years for each new job created. To be eligible, the company must als
- provide an average wage that is 10% higher than the average wage in the lowest Georgia County ($356 in 2003)
- make comparable health insurance available to new employees
In addition: Businesses located within the boundaries of a recognized JDA are entitled to an additional $500 per job in JTC benefits.
Ports Activity Job Tax/Investment Tax Credit
If a business enterprise (engaged in manufacturing, warehousing and distribution, processing, tourism, or research and development industries) increases its Georgia port traffic of product during the previous 12 month period by more than 10% above its base year and has created 15 or more new jobs, that business will be allowed a total $3,000 credit per-job-created for five years following the first year in which the jobs were created (assuming the increase in port traffic is maintained).
To be eligible, the company must also (a) provide an average wage that is 10% higher than the average wage in the lowest Georgia County ($256 in 2002) and (b) make health insurance available.
Note: Base year Georgia port traffic must be at least 75 net tons, five containers, or 10 TEUs.
Companies that create 400 or more new jobs, invest $20 million or more in new and expanded facilities, and increase their Georgia port traffic by more than 20% above their base year may take both job tax credits and investment tax credits.
These credits cannot exceed 50% of a business' state income tax liability in one year. However, they may be carried forward up to 10 tax years assuming the increase in jobs, investment and Georgia port traffic are maintained above the threshold levels.
Special Headquarters Tax Credit
Provides a special job tax credit for new corporate headquarters facilities that employ 50 or more persons in new full-time jobs and incur, within one year, a minimum of $1 million in the state in construction, renovation, leasing or other costs related to such establishment or relocation ("Headquarters" means the principal central administrative office of any taxpayer or their subsidiary).
The tax credit will be:
- $3,000 per new full-time job when the average wages of these jobs are at least 10% over the current average wage of the county in which the job is located (Chatham wage average was $588 in 2001).
- $5,000 when the average wages of these jobs are 200% or more of the average wage of the county
This credit may be taken for the first five years of the new job, and is available for jobs created in the first seven years from the close of the taxable year in which the taxpayer first becomes eligible. Where the credit exceeds a taxpayer's liability for such taxes, the excess may be taken as a credit against the taxpayer's quarterly or monthly payments. Unused tax credits may be carried forward for 10 years.
Child Care Tax Credit
Employers who provide or sponsor childcare for full or part-time employees are eligible for a tax credit of 75% of the direct cost of operation to the employer less any payments made to the employer.
The credit cannot exceed more than 50% of the taxpayer's total state income tax liability for that taxable year. Any credit claimed but not used in any taxable year may be carried forward for five years from the close of the taxable year in which the cost of the operation was incurred.
Also available is a credit that allows you to deduct 10% of the cost of building/equipping a day care facility over 10 years (100%).