For this credit, the GA Department of Revenue (DOR) administers the program and the Department of Community Affairs (DCA) determines the location credit percentages. The percentages, and thus the potential credit amounts, can change each year. DCA releases the new tier rankings each December for the following year.
- The tax credit amount is based on the costs and the county where the assets are located. For example, a $1,000,000 plant expansion in Gwinnett County (1% level) will generate a $10,000 tax credit in 2017. ($1,000,000 X 1%).
- Right now you have five years of potential benefits to consider: 3 prior years, this year, and plans for next year.
- Benefit $$s go to any company or pass-through equity owners that pay Georgia income taxes.