This Tax season is getting started with the annual goat rodeo of collecting and reviewing client data. You have probably already mailed, emailed, called, and reminded your clients that “it’s that time again.” Well, so that you won’t sound like a dentist (as in, “this won’t hurt too much”), make this a more cheerful experience by asking your clients about their activities that may qualify for tax credits (click here for the Alpharesults Tax Credit Summary).
The GCI Final Report is out (get the report here). It is pretty much a broad-brush policy document — sounds good, but nothing specific. What does that mean for your clients?
It means we have to wait a little while longer to find out what gets translated into legislation. As we said last month, that’s what they call making sausage!
Here’s a summary of tax credit policy items in the report -
We will keep you updated throughout the 2012 Session!
GCI is in its Quiet Phase – in other words, either they are writing their report due 12/31 or they decided to take the holidays off!
No, hopefully they are putting the finishing touches on the report this week and we should all see something in early January. After that, it goes to our policy makers to be converted into legislation. That’s what they call making sausage!
Here’s what we think they want to do -
Earlier this month, I attended the State Legislature’s “Special Joint Committee on Georgia Revenue Structure” hearing at the Capitol. Called at the last minute, only about half of the members attended, so nothing got done, at least on the surface!
We will keep you updated throughout the 2012 Session!
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 -
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.
This is the quiet time of the process, on the surface, but the real work is happening right now within the Georgia Chamber’s Government Affairs Council. They are responsible for developing the core recommendations of the Initiative’s strategy report.
You may want to attend the 2011 Georgia Chamber Tax Forum on November 3. This session will include the Chamber’s tax legislative initiatives and a preview of the 2012 legislative session. Hope to see you there! (click here)
November 4, 2011 – Georgia Medical Group Management Association (MGMA) 2011 Governmental/Third Party Payer Forum. Stop by our booth (Click here).
November 18, 2011 – Institute for Professionals in Taxation (IPT) Georgia One-Day Tax Seminar. This will be a great session to hear the new DOR commissioner and talk with DOR policy folks. Hope to see you there. (to download brochure click here).
I recently spoke with Guy Griswold, President of Blue Ridge Strategies, a Georgia-based public affairs firm (check them out here). We are working with his firm on legislative areas that impact tax credits, and he gave me a great synopsis of the GCI and progress to date:
Governor Deal chartered the Georgia Competitiveness Initiative (GCI) as a joint effort of the Georgia Department of Economic Development and the Georgia Chamber of Commerce.
GCI’s mission is to bring state and local governments and the business community together to develop a long-term strategy for economic development and business prosperity for our state.
GCI has completed its circuit of 12 listening sessions across the state, with its last meeting held on August 31st in West Point.
We have worked throughout the process to ensure preservation of Retraining and Jobs Tax Credits, and we will continue to promote the benefits that these credits have brought Georgia companies.
The Carl Vinson Institute of Government (part of UGA) is compiling all of the input and feedback from the 12 listening sessions for use by the Initiative Committee members as they begin developing their recommendations, which are expected to be released by the beginning of 2012 in concert with the start of Georgia’s legislative session.
If you have specific examples of how tax credits have helped your business or the business of your clients grow, we would like to include those in our discussions with committee members.
Thanks, Guy!
We are almost done with the 12 GA Competitive Initiative (GCI) meetings around the state! At most sessions there are 200 or more attendees, but most of them are from education, government and economic development (not many from private businesses). Lots of ideas have surfaced, but so far they need more specific solutions.
A reminder — the GCI is NOT a legislative mandate like it was for last year’s Tax Reform study, but recently Chris Clark, CEO Georgia Chamber of Commerce, said during his speech – “the goal of GCI is to create a jobs agenda for legislation. We will push this through the General Assembly in 2012.”
We will keep you posted as the sessions wind up and specifics begin to be developed. Don’t hesitate to contact your representative or senator as the 2012 session approaches. They can’t address your needs if you don’t let them know what those needs are!!
We have now attended the first 5 of 12 GA Competitive Initiative (GCI) meetings around the state. The sessions are averaging around 200+ attendees, but so far continue to be attended by mainly education, government and economic development people (not many from private businesses). Some specific policy ideas are getting through, although it is pretty hard for the GCI organizers to herd the cats!
The five-hour meeting format with facilitated sessions around 6 topical areas is okay in theory, but it is pretty hard for any of our clients to find that much time away from business. We are looking for ways to get their opinions heard anyway, either remotely or electronically, and will let you know specifics when we know more.
To participate in any of the remaining sessions, registration is required (click here). Hopefully we will see you at one of the sessions!
| We attended the first of 12 GA Competitive Initiative (GCI) meetings in Albany. There were 200+ attendees, but most of them were education, government and economic development representatives (not many from private businesses). The main needs identified centered on workforce development (that is, having a capable and ready workforce and strengthening the existing workforce).
The five-hour meeting format includes facilitated sessions around the 6 topical areas that the Initiative has identified: business climate, education & workforce development, innovation, infrastructure, international opportunity and growth, and government efficiency and effectiveness. Session leaders collect input from attendees, and real-time reports are generated for review. You and your clients need to participate if you want to be a part of this initiative – OR – accept what the legislators decide during the next session. Registration is required (click here). We hope to see you at one of the sessions! |
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