Freeport and Tax Exemptions
THE BEST OF GEORGIA:
INVENTORY TAX EXEMPTIONS.
Georgia's counties have the authority to enact Freeport Tax Exemption for local businesses through a referendum vote. The voters in Peach County have elected to exempt commercial, industrial and e-commerce inventory at 100% in all four Level 1 inventory classes:
- Class 1 - Inventory of goods in the process of manufacture or production which shall include all partly finished goods and raw materials held for direct use or consumption in the ordinary course of the taxpayer's manufacturing or production business in this state - 100% exemption
- Class 2 - Inventory of finished goods manufactured or produced within the state in the ordinary course of the taxpayer's manufacturing or production business when held by the original manufacturer or producer of such finished goods - 100% exemption
- Class 3 - Inventory or finished goods which, on January 1, are stored in a warehouse, dock, or wharf, whether public or private, and which are destined for shipment to a final destination outside this state and stored for transshipment to a final destination outside this state - 100% exemption
- Class 4 - Stock in trade of a fulfillment center which, on January 1, are stored in a fulfillment center and which are made available to remote purchasers who may make such purches by electronic, Internet, telephonic, or other remote means, and where such stock in trade of a fulfillment center will be shipped from the fulfillment center and delivered to the purchaser at a location other than the location of the fulfillment center - 100% exemption
In order to receive Freeport Tax Exemption, companies must file with the county Board of Tax Assessors each year by March 1sr or April 1st, depending on the county. GROW IT SWEETER WE GROW IT SWEETER
Application for Freeport Inventory Exemption.
