We recently attended the annual IPT Institute for Professionals in Taxation (click here) One-Day Georgia Tax Seminar. It was a great opportunity to meet the new DOR commissioner Doug MacGinnitie and his team. Here are some highlights:
Breath of fresh air - The new commissioner emphasized that his role is to help taxpayers comply with the laws of Georgia. Any changes in public policies or laws should be addressed by the Georgia Legislature, not by his department!
Tax Credits -
- Conservation tax credits – will be re-sellable (HB 346)
- Energy tax credit – increase annual cap from $2M to $5M & extended sunset to 2014 (HB 346 )
- Education tax credit – the cap will be adjusted for inflation and reduced the approval processing requirements (HB 325)
Wrap up - the new commissioner’s goals are to improve customer service, increase efficiency by leveraging technology and minimize the “tax gap” (i.e., what is owed vs. what is paid). For a DOR summary of the 2011 legislation, click here.
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