State Tax Credit Investments
Georgia Low Income Housing Tax Credit Summary
- Applicable against income taxes of any taxpayer and insurance gross premiums taxes.
- May offset 100% of taxpayer’s liability.
- Excess credits carry forward for three years.
- Credits can be purchased in one to five year increments – though one year purchases typically make the most sense.
- Great for corporations or individuals subject to the AMT or regular income tax.
- One-third of credits subject to recapture though that is not an issue because taxpayer is invested in a diversified portfolio of these credits.
Georgia Historic Rehabilitation Tax Credit Summary
- Applicable against the Georgia income tax liability of any individual, corporation or trust.
- May offset 100% of a taxpayer’s liability.
- Excess credits carry forward for ten years.
- Credits purchased in one year increments.
- Recapture is the responsibility of the developer and specifically stated in the statute.
- Credits can be used in the year they are purchased; the year they were created or any year in between to the extent it doesn’t surpass the 10 year carry-forward rule.
Georgia Entertainment Tax Credit Summary
- Income tax offset
- Sunset date: None
- Credit must be utilized during year generated or anytime within the 5-Year carryforward period
- Transferable tax credit (one-time)
- No tax credit usage limitations
- Limited recapture applies for DOR voluntary reviewed tax credits