Job Tax Credits for Tier 1 Counties

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 How Job Tax Credits Work in Tier 1 Counties

If your business is located in a Georgia Tier 1 County like Clayton, Spalding, Macon, and Jefferson and is in one of the following qualified industries:

  1. Manufacturing
  2. Warehousing
  3. Distribution
  4. Telecom
  5. Broadcasting
  6. Services for the disabled or elderly
  7. Research and Development

and creates at least 2 new jobs, then your business is entitled to receive job tax credits.

How Job Tax Credits Benefit Businesses in Tier 1 Counties

When businesses in Tier 1 counties hire at least 2 new full time employees, then that business:

  • Can earn $4,000 per full time employee for 5 years.
  • 100% can be used to offset Georgia income tax liability.
  • Tax credits can flow through to the shareholders’ personal income tax returns (if applicable).
  • Excess credits can be converted into withholding tax credits.
  • Any unused tax credits can be carried forward for 10 years.

Job Tax Credit Growth over 5 Years

By hiring 2 full time employees at $3,500 per employee, per year, over 5 years; your business could earn up to $35,000 in tax credits at the end of that 5 year period.

Job Tax Credit Growth over 5 years

Job Tax Credit Growth over 5 years

 

 

 

 

 

 

 

 

 

 

 

 

Does Your Business Qualify?

There are 72 counties in Georgia that are classified as Tier 1 counties.  If you want to know if your business is in a Tier 1 county, call us at 855-668-7227 or email us at info@tracsgroup.com.

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