Opportunity Zone Credits

Georgia is the #1 ranked state for businesses for the last seven years. As of 2019, there are over 40 state and local tax credits available to Georgia-based businesses. The most aggressive and lucrative tax credits available are the Job Tax Credit and Quality Job Tax Credit programs. These tax credit programs allow companies to offset 100% of their state withholding tax liability.

Recognizing the rapid economic development potential for Georgia businesses, CTA now offers full-service expertise in computing and substantiating these incentives.  The Atlanta office of CTA has added two state and local tax credit experts with over 20 years of experience to help Georgia businesses in obtaining these tax credits.

Job Tax Credits - Georgia businesses located in a tax incentive zone can qualify to receive up to $3,500 per qualified job, per year, for five years. This totals up to $17,500 per qualified job. Qualifying for the Job Tax Credit allows the business to apply for an additional $500 to $1,750 in bonus tax credits per year, for five years.

  • Joint Development Authority Tax Credit Bonus – Businesses that earn the Job Tax Credits can qualify to receive an additional $500 per qualified job per year for the next five years if the business is located in a county with a Joint Development Authority.
  • Port Activity Tax Credit Bonus – Businesses that earn the Job Tax Credits and also import/export through the port of Savannah may qualify to receive an additional $1,250 tax credit bonus on top of the Job Tax Credit and Joint Development Authority Tax Credit Bonus.

Quality Job Tax Credits - Georgia businesses that are creating high paying jobs can receive up to $5,000 per job per year for 7 years, totaling up to $35,000 per qualified job.

JTC with Bonuses vs Quality Job Tax Credits

 

Job Tax Credits

Quality Job Tax Credits

Maximum Credit Available Per Job

$3,500

$5,000

Number of years tax credits received

5 years

7 years

Joint Development Tax Credit

$500

$0

Port Active Tax Credit

$1,250

$0

Income Tax Liability Usage

100%

100%

Withholding Tax Usage

100%

100%

Carry Forward

10 Years

10 Years

Must be in tax incentive zone

Yes

No

 

JTC with Bonuses 5 Year Windows

How Job Tax Credits Work over 5 Year Period

 

Year 1

Year 2

Year 3

Year 4

Year 5

Year 1 Jobs

25

25

25

25

25

Year 2 Jobs

 

20

20

20

20

Year 3 Jobs

 

 

10

10

10

Year 4 Jobs

 

 

 

5

5

Year 5 Jobs

 

 

 

 

-5

 

 

 

 

 

 

Total Jobs

25

45

55

60

55

Base Credits ($3,500 x total jobs)

$87,500

$157,500

$192,500

$210,000

$192,500

Joint Development Authority Bonus ($500 x total jobs)

$12,500

$22,500

$27,500

$30,000

$27,500

Port Activity Bonus ($1250 x total jobs)

$31,250

$56,250

$68,750

$75,000

$68,750

Total Job Tax Credits Per Year

$131,250

$236,250

$288,750

$315,000

$288,750

Total Job Tax Credits Over 5 Years

 

$1,260,000

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