he new Life Science Tax Credit bonus is an add-on to an eligible Job Tax Credit claim, limited to establishments who are a medical equipment and supplies manufacturer (NAICS 3391) or pharmaceutical and medicine manufacturer (NAICS 3254).
The bonus value is $1,250 per job, per year for five years, specifically applied to JTC-eligible jobs involved in the production of medical equipment, supplies, pharmaceuticals or medicine.
i. Administration
The bonus is administered by the Georgia Department of Revenue. Bonus credits must first be applied to 100 percent of tax liability, after which additional can be applied to payroll withholding, with a 10-year carry forward available for any remaining claimed but unused credits.
ii. Coordination with other Credits
This is an added bonus to the job tax credit; may not claim PPE bonus if electing to claim this bonus.
Governing Georgia Code: Georgia Code 48-7-40.1B