This credit allows a company operating an existing manufacturing or telecommunications facility in the state for the previous three years to obtain a credit against corporate income tax liability for capital investment in the state. Credits range from five percent of the total value of all qualified property in Tier 1 counties to one percent in Tier 4 counties. Higher credits are available for recycling, pollution control and defense conversion activities.
A $50,000 minimum investment is required in all counties. A credit which is claimed but not used in a taxable year may be carried forward for 10 years. This credit may not be taken with the job tax credit.
See Georgia Code Sections 48-7-40.2, 40.3 and 40.4, and Georgia Department of Revenue Rules and Regulations 560-7-8-.37 for more detail.