New Quality Jobs Tax Credit

In the 2009 session of the Georgia General Assembly, the Legislature passed a law amending Georgia’s former Headquarters Tax Credit program. In its place it created the new Quality Jobs Tax Credit – offering higher incentives for higher paying jobs. Jobs must be created on or after January 1, 2009 to be eligible. In order to qualify for any level of the Quality Jobs Tax Credit, a company must create at least 50 eligible new full-time jobs in a 12-month period and ALL JOBS must meet the 110 percent minimum wage requirement. For 2013, the average
wage for Development Authority of Walton County was $700 per week. 

Qualifying Level Credit Earned
110 percent of county average wages $2,500 per person tax credit
120 percent of county average wages $3,000 per person tax credit
150 percent of county average wages $4,000 per person tax credit
175 percent of county average wages $4,500 per person tax credit
200 percent of county average wages $5,000 per person tax credit

Once all earned credit has been applied against a company’s Georgia corporate income tax liability, excess credit may be monetized against employee withholding taxes. This credit is administered by the Department of Revenue. 

  

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