Compilation of Rules and Regulations of the State of Georgia › Department 560 - RULES OF DEPARTMENT OF REVENUE › Chapter 560-7 - INCOME TAX DIVISION › Subject 560-7-8 - RETURNS AND COLLECTIONS › Rule 560-7-8-.36 - Job Tax Credit, Description and Definitions

Current through Rules and Regulations filed through June 27, 2024
(1)
Program Description.
The Job
				Tax Credit program provides tax credits under Article 2 of Chapter 7 of Title
				48 of the Official Code of Georgia Annotated for certain business enterprises
				that create and retain new full-time employee jobs in Georgia. The Georgia
				Department of Community Affairs ("DCA") and the Georgia Department of Revenue
				have been designated as the responsible agencies within Georgia to administer
				the program.
(2)
Coordination
				of Regulations.
Any reference to Community Affairs regulations in this
				regulation refers to the most recent regulations relating to the Job Tax Credit
				program which have been adopted by the Georgia Department of Community
				Affairs.
(3)
Definitions.
(a)
Terms
				Defined in Community Affairs Regulation.
The terms "business
				enterprise," "less developed area," "less developed census tract area," "new
				job," "average wage," "wages," "transferred job," and "replacement job," as
				used in this regulation are defined in Community Affairs Regulation
				 110-9-1-.01.
(b)
Taxes Imposed Under Article 2 and
				Article 5.
The term "taxes imposed under Article 2 and Article 5" means
				the corporate income tax, withholding tax, and the individual income tax
				described at Article 2 and Article 5 of Chapter 7 of Title 48 of the Official
				Code of Georgia Annotated.
(c)
Project.
The meaning of the term "project" as used in this
				regulation is identical to the meaning of "project" in Department of Revenue
				Regulation
				 560-7-8-.37.
(d)
Year One
. The term "year
				one" means the tax year or calendar year in which sufficient new jobs are
				created that, meeting the requirements in O.C.G.A. Sections
				 48-7-40 or 
				 48-7-40.1 and  Community Affairs Regulations
				 110-9-1-.01,  110-9-1-.02, and
				 110-9-1-.03  and this regulation,
				entitle a business enterprise to job tax credits.
(e)
Years Two through Five
. For
				business enterprises that create a new year one under DCA regulations for any
				taxable year beginning on or after January 1, 2009, the term "years two through
				five" means the consecutive four-year period following year one in which job
				tax credits may be allowed for new jobs created in year one and in which
				additional new jobs may be created that may also qualify for job tax credits.
(f)
Years Two through
				Six
. For business enterprises that initially claimed the credit for any
				taxable year beginning before January 1, 2009, the term "years two through six"
				means the consecutive five-year period following year one in which job tax
				credits may be allowed for new jobs created in year one and in which additional
				new jobs may be created that may also qualify for job tax credits.
(g)
Competitive Project
. The
				term "competitive project" as used in this regulation is defined in O.C.G.A.
				Section
				 48-7-40.