Georgia Port Activity Tax Credit
Georgia companies that increase imports or exports through a Georgia port by at least 10 percent can qualify for a bonus tax credit.
Keeping up with the ever-changing eligibility guidelines and filing requirements can be overwhelming. Leave the heavy lifting to our team of tax incentive experts. Take these time-consuming tasks off your plate :
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Ensuring your client is matched with the credits and incentives that are most appropriate for their needs
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Collecting necessary data and documentation and completing complex calculations
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Create an audit-ready tax incentive package that clearly identifies each key component of the calculation and supporting documentation
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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.
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Must be eligible for Georgia Jobs Tax Credit or Georgia Investment Tax Credit
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Must increase port activity by 10%
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Base year port traffic must be at least 75 tons; or 5 containers; or 10 TEUs (Twenty-foot Equivalent Units)
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Georgia Port 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.