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Georgia Port Activity Tax Credit Overview

Picture of TaxCredible   TaxCredible  ·  1 minute read

Georgia companies that increase imports or exports through a Georgia port by at least 10 percent can qualify for a bonus tax credit.

The Port Tax Credit is a bonus that can be used with either the Job Tax Credit (JTC) or the Investment Tax Credit if the company 1) meets the requirements for one of those programs and 2) increases imports or exports through Georgia ports during a specified tax year and by a specified amount.

The specified tax year is the tax year prior to the tax year in which the company wants to claim the Port Tax Credit Bonus. For example, to claim the Bonus for tax year 2022, the specified tax year is tax year 2021.

Georgia Port Tax Credit Eligibility Guidelines

The Port Tax Credit is a bonus to the Georgia Job and Georgia Investment Tax Credits and can be used to offset up to 50% of corporate income tax liability.

  • Must be eligible for Georgia Jobs Tax Credit or Georgia Investment Tax Credit
  • Must increase port activity by 10%
  • Base year port traffic must be at least 75 tons or 5 containers, or 10 TEUs (Twenty-foot Equivalent Units)
 

Tax Credit Opportunity

PORT TAX CREDIT BONUS FOR JOB TAX CREDITS
This “port bonus” is an additional $1,250 per job, per year, for up to five years for taxpayers with qualified increases in shipments through a Georgia port. The $1,250 is added to the Job Tax Credit.
 
PORT TAX CREDIT BONUS FOR INVESTMENT TAX CREDITS
This “port bonus” increases the Investment Tax Credit to the equivalent of a Tier 1 location regardless of the tier level; therefore, it would be equal to 5% of the qualified investment in expenses directly related to a manufacturing or telecommunications facility with the credit increasing to 8% for recycling, pollution control, and defense conversion investment.
 
 
 

Identifying tax credit savings is easier than ever. 

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