Georgia Focuses on Research and Development Tax Credit

Georgia State Government are focused on helping businesses increase cash flow and remain competitive in the marketplace.

The Georgia Department of Economic Development are helping business to expand through various tax benefits such as the Research and Development tax credit.

Research and development (R&D) tax credits are a valuable benefit for companies developing new products and services in Georgia.

R&D tax credits are available to any company that increases its qualified research spending. Brand new companies, existing companies embarking on R&D for the first time, established companies expanding their R&D budget – all are eligible for R&D tax credits.
The tax credit earned is a portion of the increase in R&D spending. The credit can be used to offset up to 50 percent of net Georgia income tax liability, after all other credits have been applied.
Any unused R&D tax credits can be carried forward for up to 10 years. In addition, new business enterprises in their first five years of operation can use excess R&D tax credits against state payroll withholding.

Contact Engineered Tax Services for further information on the Research and Development Tax Credit available to companies nationally.


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