Job Tax Credit: Strategic industries such as distribution, technology, manufacturing, telecom, processing companies and their headquarters qualify for Georgia’s Job Tax Credit. Depending on the community’s tier, companies must create between five and 25 net new jobs per year to qualify. For each year (up to five years) the jobs are maintained, qualified companies can claim a tax credit with a value of $750 – $3,500 per job, per year. Unused job tax credits may be carried forward ten years.
Carroll County is a tier 2 county, which means the credits can be taken against 100 percent of corporate income tax liability. To qualify for the credit in Carroll County, companies must create a minimum of 10 jobs, and the tax credit for each of those jobs will be between $2,500 and $3,000. Because Carroll County is a part of the Greater West Georgia Joint Development Authority, qualifying companies can also receives a $500 annual bonus credit.
Investment Tax Credit: Existing manufacturing or telecommunications companies that have operated a facility in Georgia for at least three years and which make a minimum $50,000 additional qualified capital investment may claim up to 3% of the new investment as a tax credit. Higher credits (5%) are available for investments in recycling or pollution-control equipment, as well as for defense plant manufacturing conversion to a new product. Taxpayers must choose either the investment tax credit or the job tax credit. This credit may be applied against 50 percent of a company's tax liability and carried forward for ten years.
Inventory (Freeport): Freeport is the general term used for the exemption of ad valorem tax on inventories as defined by Georgia law. The law offers manufacturers, distributors, wholesalers and warehouse operations an attractive inventory tax exemption on three classes of property.
Carroll County and Carrollton exempt 100% on all classes of certain business inventory from property taxation.