Job Tax Credit
The Job Tax Credit in Georgia is available to businesses engaged in manufacturing, warehousing & distribution, information processing, telecommunications, tourism, and research & development. Such businesses in Columbia County that are creating 25 or more local full-time jobs are eligible to receive a $750 Job Tax Credit (JTC) per job created. Because Columbia County is a member of a regional multi-county Development Authority, the State will automatically add another $500 to the $750 credit—increasing the company’s total JTC to $1,250 per full time job created. The business will receive this $1,250 JTC per job created each year for 5 consecutive years! These credits can offset up to 50% of a company’s state tax liability and they may be carried forward for 10 years.
The Port Job Tax Credit is a $1,250 per job JTC Bonus for taxpayers with large increases in shipments into and out of a Georgia port. See the summary table below to see how Georgia’s Job Tax Credits work:
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Georgia’s Job Tax Credits |
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|
Job Tax Credit |
Minimum # of Jobs |
Credits can Offset… |
Forward Time |
|
$1,250 per full-time job created |
25 |
Up to 50% of State tax liability |
10 years |
|
**$2,500 per full-time job created |
25 |
Up to 50% of State tax liability |
10 years |
**With Port Job Tax Credit bonus