Incentives

Retraining Tax Credit

Retraining tax credits enable Georgia businesses to offset their investment in employees. Whether retraining workers to use new equipment or new technology or upgrading the company’s competitiveness with ISO 9000 training, companies can afford more training, more often, thanks to Georgia’s tax credit program.

Businesses can receive a tax credit of 50 percent of their direct training expenses, with up to $500 credit per full-time employee, per training program. The annual maximum of the credit amounts to $1,250 per employee. Eligible expenses include:

  • costs of instructors and teaching materials
  • employee wages during retraining
  • reasonable travel expenses

Retraining tax credits can be used to offset up to 50 percent of a company’s Georgia corporate income tax liability. If the earned credit exceeds that limit, then the unused credit can be carried forward for up to 10 years and applied to future years’ tax liability.

Any business that files a Georgia income tax return is eligible for the retraining tax credit. To qualify, training programs must be designed to enhance quality and productivity or teach certain software technologies. To qualify for the credit, retraining expenses must be approved by the Technical College System of Georgia.

Contacts

Georgia USA

https://www.georgia.org/competitive-advantages/incentives/tax-credits

Category: State Incentives

More State Incentives

Film, television and digital entertainment tax credits of up to 30 percent create significant cost savings for companies producing feature films, television series, music videos and commercials, as well as interactive games and animation. Georgia’s Entertainment Industry Investment Act provides a 20 percent tax... Learn More
Business inventory is exempt from state property taxes (as of January 1, 2016).  Almost all (93 percent) of Georgia’s counties and over 140 of the cities have adopted a Level One Freeport Exemption, set at 20, 40, 60, 80 or 100 percent of the inventory value... Learn More
Investment tax credits help Georgia businesses grow by making it more affordable to expand and improve facilities. Companies in manufacturing or telecommunications support that have operated in Georgia for at least three years are eligible to earn investment tax credits for upgrades or expansions... Learn More
A job credit is a tax credit that helps fuel company expansion by rewarding job creation. In Georgia, job credits provide as much as $4,000 in annual tax savings per job for up to five years. They’re available to businesses (or their headquarters) in seven... Learn More
The Mega Project Tax Credit is available for companies that employ at least 1,800 net new employees, and either invest a minimum of $450 million or have a minimum annual payroll of $150 million.  These qualifying companies may claim a $5,250 per job, per year... Learn More
The port tax credit bonus rewards new or expanding Georgia companies that increase imports or exports through a Georgia port by at least 10 percent over the previous or base year. To be eligible for the port tax credit bonus: Companies must... Learn More
The Quality Jobs Tax Credit is another job tax credit for jobs that pay higher-than-average wages. It can give Georgia companies a significant tax break and help drive growth. The Quality Jobs Tax Credit rewards companies that create at least 50 jobs in a... Learn More
Research and development (R&D) tax credits are a valuable benefit for companies developing new products and services in Georgia. R&D tax credits are available to any company that increases its qualified research spending. Brand new companies, existing companies embarking on R&D for the first... Learn More
Georgia helps companies lower their cost of doing business by offering the ability to purchase various types of goods and services tax free. Learn More
Work Opportunity Tax Credits (WOTC) are federal tax credits awarded to Georgia companies that hire individuals who have consistently faced significant barriers to employment. The Georgia Department of Labor (GDOL) coordinates the WOTC program which provides employers financial incentives when hiring workers from targeted groups... Learn More