Less Developed Census Tract Tax Credits2018-05-24T14:06:30-04:00

2017 Less Developed Census Tracts for Carroll County (O.C.G.A. 48-7-40.1):

See Map Below

Tract 9103
Tract 9105.01
Tract 9105.02
Tract 9106
Tract 9107.01
Tract 9107.3
Tract 9112

(click for map version with street level detail)

Job Tax Credits –Less Developed Census Tract (LDCT)

– The Georgia Job Tax Credit Program in a LDCT falls under O.C.G.A. 48-7-40.1
– Eligible Business Enterprises must create at least five (5) net new jobs at the business location
within the designated LDCT within a tax year and the new jobs must be full-time, permanent
jobs of at least 35 hours per week
– New jobs must be offered health insurance; the employer does not have to pay for such
insurance, just offer it
– The average wage of each of the new jobs created must pay at least the average wage of the
county with the lowest average wage in the state – as of June 2016 this is Glascock County at
$471 per week or $24,492 per year, per DOL (Georgia Employment and Wages – 2015
Averages)
– Job threshold must be created in initial year, then maintained an additional four years – credit
is initially claimed on the initial year tax return – for example, an initial threshold of eligible new
jobs created in 2015 may be claimed on the 2015 tax return – additional credit is then claimed
on each of the following four years tax returns as long as the jobs are maintained
– Credit is claimed by filing Form IT-CA2012 with the Georgia Corporation Income Tax return;
Tax credit = $3,500 per job
– Credit may be applied against 100 percent of any corporate income tax liability on the Georgia
Corporation Income Tax Return
– Excess credit may be applied against withholding if the proper steps are taken with the
Department of Revenue

Learn more here – http://www.dca.ga.gov/economic/TaxCredits/programs/taxcredit.asp