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Tax Incentives For Georgia Businesses

August 30, 2016
Businesswoman writing on printed spreadsheets.

Georgia is an attractive state for small and large business because of it’s many tax benefits. If you’re a new business or startup, here are just a few tax advantages to doing business in Georgia.

Tax Exemptions in Georgia Save Business Money  

If you’re a manufacturing company, take advantage of of the Sales Tax and Use Tax Exemption when you purchase or operate certain types of machinery. If your company has inventory held in a factory or warehouse, you pay no property taxes thanks to the Inventory Tax Exemption. This could be one big reason UPS and Home Depot decided to plant their headquarters in Atlanta.

Georgia Has Many Tax Credits

Georgia offers many tax credits for new or growing businesses. Here are just a few ways your company can benefit from tax credits in 2017:

Create a New Job

It’s called the Job Tax Credit. If your business involves: manufacturing, telecommunications, broadcasting, warehousing, research, processing or tourism, you can get a break on taxes. Areas that need economic help the most are divided into zones or tiers, so the credit amount you get depends on where the job is created.

Import or export more

The Port Tax Credit Bonus helps new or growing Georgia businesses if they increase their imports or exports through a Georgia port by at least 10% over the previous year.

Hire Veterans, Ex-felons or Summer Youth Employees

The Georgia Department of Labor offers certifications to participate in the Work Opportunity Tax Credit program (WOTC). Through this program, federal tax credits are awarded to businesses who hire individuals who consistently face significant barriers to employment.

Go Hollywood in Georgia

For those in the film and entertainment industry, Georgia is one of the most attractive states in America when it comes to tax breaks. Through the Film Television and Digital Entertainment Tax Credit, you can get up to 30% cost savings in taxes if your company produces films, shows, music videos, commercials or even interactive games and animation.

Train Your Employees

You can obtain tax credit simply by investing in your own employees. Georgia offers a Retraining Tax Credit. Take advantage of an annual tax credit of up to $1,250 per employee to help with instructors, teaching materials and travel expenses.

These are just some of the most popular tax credits available for businesses in Georgia. There are many others. Find more information on tax incentives for Georgia businesses with the Georgia Department of Revenue.

About the Author

April Lentini is the Content Strategist for GeorgiaGov. She empowers content managers for government agencies, helping them understand and improve their website content for optimal usability.

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