Discretionary Incentives

overview

Georgia Mega Project Tax Credit

The Georgia Mega Project Tax Credit rewards businesses creating a considerable number of new jobs and making significant investments within the state.  The program provides companies employing at least 1,800 net new employees, and either investing a minimum of $450 million or have a minimum annual payroll of $150 million with a credit of $5,250 per net new job per year for up to 5 years.

To qualify:

Most businesses/industries are eligible except for retail.

Business must either invest a minimum of $450 million or have a minimum annual payroll of $150 million by no later than the close of the sixth taxable year.

Businesses must create at least 1,800 net new full-time jobs no later than the close of the sixth taxable year.  Average wages of the new jobs must be:

  • At least 20% above such average wage for projects located in Tier 1 counties;
  • At least 10% above such average wage for projects located in Tier 2 counties;
  • At least 5% above such average wage for projects located in Tier 3 and Tier 4 counties.

Eligible full-time jobs must be:

  • Employed for a minimum of 35 hours per week;
  • With no predetermined end date;
  • Paid wages at or above the average wage of the county with the lowest average wage in the state.
Benefit:

The credit amount is $5,250 per qualified net new job.

The Georgia Mega Project Tax Credit may be used to offset 100% of a company’s Georgia corporate income tax liability. 

A company may elect to utilize any excess credits against its withholding tax by filing Form IT-WH at least 30 days before filing the original tax return.

Unused credits may be carried forward for up to 10 years.

WOTC Tax Credit Calculator

All businesses that pay income tax in the U.S. qualify for the federal Work Opportunity Tax Credit (WOTC). To quickly estimate your company’s WOTC, fill out the fields below.

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