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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.
Tax Incentives
No
Georgia sales tax is levied on equipment used in the
manufacturing process. Property taxes are levied
only by cities and counties. Bulloch County's taxes
are among the lowest in the nation. For millage
rates, refer to General Facts & Information. Jobs
Tax Credit - $ 3,000 per job. See Georgia Business
Expansion Support Act below.
Freeport Exemption
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.
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 $2,000 tax credit.
Capital Investment
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.
Retraining
Firms
providing retraining for employees may receive a tax
credit of 25% of their costs, up to $500 per
participant, to a maximum of 50% of state income tax
liability.
Child Care
Companies providing or sponsoring child care for
employees are eligible for a tax credit of 50% of
their costs, up to 50% of state income tax
liability.
Sales Tax Exemption
Various sales and use tax exemptions are available
for manufacturing operations, material handling
equipment, pollution control and electricity used
directly in manufacturing a product. Certain
provisions apply. |
