Taxes
THE BEST OF GEORGIA:
BUSINESS IS LESS TAXING IN PEACH COUNTY. GROW IT SWEETER WE GROW IT SWEETER
Peach County understands how important it is to mitigate costs associated with facility relocation and expansion. Because of that, we partner with the state of Georgia to offer incentive solutions designed to offset start up costs while encouraging job creation and investment. We are designated as a Tier 2 County, which means you can claim a $3,000 job tax credit per employee – that’s the most attractive incentive in the state. What’s more, Peach County exempts 100% on all classes of certain business inventory from property taxation. There are tax credits, exemptions and incentives for everything from job creation and capital investments to mega-projects and port usage. To learn about specific incentives, please call our office at +1 (478) 825-3826
SAMPLING OF LOCAL AND STATE TAX INCENTIVES
In Peach County, job and investment tax credits are available to corporations and headquarters engaged in manufacturing, distribution, research and development, processing, telecommunications and tourism.
Manufacturers operating for at least three years are eligible to receive tax credits for plant expansions or facilities construction. Credit earned amounts from 1% to 8% of qualified capital investments of $50,000 or more.
Research & Development Tax Credit
Peach County companies can claim 10% of increased qualified research and development expense over gross receipts as a tax credit. Georgia taxpayers must qualify for a research credit under the IRS code to be eligible.
Georgia companies can receive a tax credit of 50% of their costs for direct investment in training, up to $500 credit per full-time employee, per training program. The total credit cannot exceed $1,250 per employee per year, and training programs must be approved by the Technical College System of Georgia.
The Mega Project Tax Credit is available for companies that employ at least 1,800 new employees and invest a minimum of $450 million or have a minimum annual payroll of $150 million. Qualifying companies may claim a $5,250 per job, per year tax credit for the first five years of each net new job position. Credits are first applied to state corporate income tax, then any excess credits are eligible for use against payroll withholding. Credits may be carried forward for ten years.
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