Designated Area Tax Credits
The Military Zone Job Tax Credit Program provides additional benefits to business located in specified census tracts or additionally designated areas which are adjacent to a military base and considered to be less developed or have a higher rate of poverty.
Business located in areas designated by the Georgia Department of Community Affairs (DCA) as an Opportunity Zone may qualify for a $3,500 tax credit for 5 years when 2 or more eligible net new jobs are created within a single tax year. The Opportunity Zone Job Tax Credit can be taken against a new or existing business’ Georgia income tax liability. Employers may use excess credits against withholding taxes. The law allows for any lawful business to qualify for the credit, including retail, so it is not limited to specific industries like the state’s regular job tax credit program. Businesses may claim the job tax credits for up to 5 years, as long as the jobs created are maintained. Marietta’s Opportunity Zones Job Tax Credit Program will expire December 2019.
Under the Georgia Tax Credit Program, businesses located in Less Developed Census Tracts (LDCTs) and engaged in manufacturing, warehousing and distribution, processing, telecommunications, tourism, or research and development industries may be eligible for the states highest job tax credit benefit level. If other requirements are met, Defined Business Enterprises, located in LDCTs that create 5 net new jobs within a single tax year may apply for the tax credit of $3,500 per eligible net new job created. Businesses may claim the job tax credits for up to five years, as long as the jobs created are maintained.