We help companies all over Georgia identify and obtain tax credits. Tax credits maximized. Risk minimized.

Archive for April, 2010

Quick Update — Legislation

Filed under: Policy
April 29, 2010

April 29 is supposed to be the last day of the 2010 Georgia legislative session, and so far, we have not seen any significant tax credit changes.

Some items of interest include:

HB 1405 (click here) — Creates a “Special Council on Tax Reform and Fairness for Georgians” and the “Special Joint Committee on Georgia Revenue Structure” to study the state’s current revenue structure (including tax credits) and make recommendations for changes starting in 2011.

SB 374 (click here) — Creates a “Legislative Economic Development Council” and a “Citizens Advisory Committee” to review all state economic development programs, incentives and related activities on a regular basis and recommend changes.

It looks like a lot of councils, committees and meetings to analyze, study, review and recommend changes that could affect tax credits. Neither of these bills has been signed by Governor Purdue yet. It will be interesting to see what happens in 2011, especially with a new governor leading our state. Stay tuned!

Help with Adding New Jobs

Filed under: Other Incentives
April 28, 2010

As the economy improves (hopefully!) and your clients start adding new jobs, they may want to utilize some beneficial “no-cost” offerings from the State of Georgia:

Work Ready. We met with Ann Sechrist, Director of Economic Development at Gwinnett Technical College. She described a no-cost service provided by the Technical College System of Georgia called Work Ready.   Companies can utilize this service to help find higher quality employees as well as get assistance with EEOC compliance. Job applicants with Work Ready certificates are pre-tested for math, reading and other core skills that companies require. Several other related services might also help your clients get Work Ready employees (click here).

Georgia Works. The Georgia Department of Labor has a program that provides companies with prospective employees at no cost for up to 6 weeks. The company and the prospective employee are be able to evaluate the best fit during this time period. For additional information about this and other related services, click here.


Retraining Tax Credit Update

Filed under: Retraining Tax Credit
April 28, 2010

We talked with Pam Griffin, who administers the Retraining Tax Credit program for the state. Here are some key items she told us that are new for 2009:

$1,250 Cap. There still is a $500 per program per employee per year restriction, but starting in 2009 the most that can be claimed for one employee is $1,250 per year.

Approved Retraining. Narrows the definition of approved retraining to exclude any retraining on commercially, mass produced software packages for word processing, data base management, presentations, spreadsheets, e-mail, personal information management, or computer operating systems, unless it is completed by those providing support or training on such software.

One-Year Look-Back. Requires that the credit be claimed within 1 year, starting with the 2009 tax year, instead of the previous 3-year look-back period.

Technical colleges re-organized. Many of the technical colleges have been consolidated as part of the state’s cost cutting program, and many of the folks who approve the Retraining Credits have or will be changed.  The final changes will be made in July 2010.  We’ll keep you posted.

Tax Credit Show — Caution

Filed under: Energy Tax Credits
April 21, 2010

Based on all the headline news and banners, I thought I was at a tax credit show.

Last weekend, my wife & I went to a big home improvement show. As we entered the exhibit area, it seemed like every booth had something about tax credits. Air conditioners, windows, insulation – you name it and you would hear something about tax credits.

I asked a painting contractor about tax credits. He replied that there must be one somewhere since everyone else has one available!

From what I saw, the energy tax credit $$ are small and may not be not worth the time and effort.

With tax season going strong, I am sure you are hearing some unusual questions about energy tax credits. Caution your clients that these credits may sound great, but not much $$ after all the effort.