Your business is important to our community and our economy. Bulloch County and the State of Georgia offer an array of incentives for relocating or expanding businesses in Bulloch County. Each project is considered according by total investment, new job creation and total payroll. The Development Authority of Bulloch County works closely with all prospects to ensure that incentives are provided according to the strength of the project
2010 Tax Incentives Brochure (PDF - updated 5/10)
Job Tax Credits:
Job tax credits are available to a business or to its headquarters engaged in any of the following six categories. Taxpayers may choose between job tax credits or investment tax credits.
• Warehouse Distribution
• Research & Development
Job tax credits in Bulloch County are at the highest tier 1 $4,000 per job each year for 5 years.
Example: Taxpayer creates 50 jobs in a tier 1 county offering a $4,000 credit; receives $1 million in tax credits over 5 years to reduce or eliminate Georgia income tax [50 jobs x $4,000 x 5 years = $1 million].
Job tax credits in Bulloch County can be used against 100% of income tax liability. [chart below]. The excess over 100% is credited to Georgia withholding tax (with a limitation of $3,500 per job) in tier 1 counties only. For each of the four tiers, a certain minimum number of jobs is required to claim the job tax credit. The chart below lists benefits and requirements for each tier.
Example: Taxpayer creating a minimum of 5 jobs in a tier 1 county would qualify for a $4,000 or $3,500 per job tax credit.
For more information, please visit Georgia Job Tax Credit Program.
Georgia Business Expansion Support Act
Job Tax Credit -- For companies engaged in manufacturing, warehousing and distribution, processing, tourism, and research and development industries. Companies creating 25 or more new jobs in Bulloch County will receive a $4,000 tax credit.
Manufacturers which have been in operation at least three years may receive tax credits for plant expansions or facilities construction. An investment of $3 million receives a 3% credit which increases to 5% for recycling, pollution control and defense conversion activities.
Quality Jobs Tax Credit
Companies that create at least 50 jobs and pay wages at least 110% of the county average are eligible to receive a credit of $2,500-$5,000 per job, per year, for up to five years, based on the scaled system below. Credits may be used to offset the company’s payroll withholding once all other tax liability has been exhausted and may be carried forward ten years. For more information, please contact one of our industry-specific Information Specialists or contact one of our on-the-ground Project Managers. (PDF)
(% of county avg.)
Credit Value per Person
≥110% and <120%
≥120% and <150%
≥150% and 175%
≥175% and <200%
200% or greater
Per changes made during the 2009 Georgia legislative session this was formerly known as the Headquarters Tax Credit. The page was updated 7/24/09. Courtesy of Georgia.org
Research & Development Tax Credit
Ten percent of a company’s increased qualified research and development expense over its gross receipts may be claimed as a tax credit. Georgia taxpayers must qualify for a research credit under the IRS code to be eligible. Emerging companies can apply the credit to offset their payroll withholding once all other tax liability has been exhausted for their first five (5) years.
Retraining Tax Credit
A company’s direct investment in training can be claimed as a tax credit – 50 percent of the employer’s direct cost up to $500 per, per approved training program. The total amount of credit cannot exceed $1,250 per employee per year.
Training programs must be approved by the Technical College System of Georgia. This tax credit can be used to offset up to 50 percent of a company’s state corporate income tax liability. The credit is available to all Georgia businesses that file a Georgia income tax return.
The retraining program must be for quality and productivity enhancements and certain software technologies. Unused credits can be carried forward 10 years. These credits can be combined with other tax credits.
Child Care Tax Credit
Child care credits range from 100 percent to 75 percent of costs. Employers who purchase or build qualified childcare facilities are eligible to receive Georgia income tax credits equal to 100 percent of the cost of construction. Employers who provide or sponsor childcare for employees are eligible for a credit against Georgia income tax equal to 75 percent of employers' direct costs.
The credits are available to all businesses in the state. The childcare program must be licensed by the state.
All childcare credits can be used against 50 percent of taxpayer's income tax liability in a given year. Unused childcare credits from the purchase or construction of a childcare facility can be carried forward three years. The credit for the cost of construction over 10 years [10 percent each year]. Credits that are related to the operating cost of the facility may be carried forward five years.
Example: Taxpayer has direct child care cost of $400,000 in a given year; and is eligible to receive $300,000 tax credit [75% x $400,000]. Taxpayer invests $1 million in a building for the childcare and is eligible for a credit in the first year of $100,000 [10% x $1 million]. Taxpayer can add the $300,000 tax credit and the $100,000 credit if the total credits do not exceed 50% of the tax liability in a given year.
Industrial Revenue Bonds
Industrial Revenue Bonds (IRBs) are financing instruments issued through the Development Authority of Bulloch County, Georgia. Both taxable and tax-exempt industrial revenue bond financing is available at competitive, below-prime interest rates. IRBs provide financing for land, building and equipment acquisition for new and expanding manufacturing plants.
Bulloch County's freeport inventory tax exemption is fully implemented at the 100% level. Exemption from ad valorem taxes for inventories of finished goods held by original manufacturers; raw materials and goods in process; finished goods held by distributors, wholesalers and manufacturers but destined for out of-state shipment.
One-Stop Environmental Permitting
Georgia offers efficient, one-stop environmental permitting through its Environmental Protection Division which is also approved by the U.S. Environmental Protection Agency to issue federally required permits. Costly and time-consuming environmental impact statements are not required.
A discount insurance program for small and medium-sized Chamber business members is available through our Chamber. In addition, by joining the Chamber's "Drugs Don't Work" program you can receive a 7.5% discount on your Worker's Compensation Insurance. For more information, call Jennifer at 489-9123.
Drugs Don't Work Program
The Drugs Don't Work Program, sponsored by the Georgia Chamber of Commerce, can save you 7.5% on worker's compensation insurance. The Statesboro-Bulloch Chamber of Commerce has trained staff that will assist your business in setting up your drug free program using a five-step program with easy to follow guidelines.