The Georgia Department Of Community Affairs (DCA) has released their list of “Less Developed Census Tracts”, a designation that gives expanding or relocating businesses access to job tax credits.
Tax Credit Details
To qualify, the business must create at least five (5) net new jobs at the business location within the designated LDCT within a tax year and the new jobs must be full-time, permanent jobs of at least 35 hours per week.
If you are located in an LDCT and create 5 new jobs you will be eligible for a credit of $3,500 per job that could be used towards your state corporate tax liability and payroll withholding tax.
Qualified Census Tracts
If you own a business or own a property and you believe that you may qualify and would like to receive more information, please don’t hesitate to contact the CID.