Job Tax Credit - Because
Exemption of Sales and Use Tax on Energy used in Manufacturing Process—Effective January 1, 2013, Georgia will phase in over four years the exemption of sales and use tax on energy used in the manufacturing process, excluding any local education SPLOST/LOST agreements. (State legislation allows for local governments to add an excise tax on energy used in manufacturing process.)
Sales and Use Tax Exemption—Qualified equipment purchases or leases are exempt from sales tax when the equipment purchased is used in the manufacturing process. Under certain conditions, primary material handling equipment (in warehouses and distribution centers), computer equipment and Class 100 (or less) clean room machinery, equipment and materials can also be exempted
There are many incentives offered by the State of Georgia with just a few mentioned here. Click here for complete information on available State of Georgia tax incentive information.
Also click here to download the 2012 brochure as a pdf of the State of Georgia tax incentive information.
Inventory Tax Exemption – In
Land in the
There are also other incentives available for qualifying industries such as: tax abatement, free utility hook-ups, rough land grading, industrial revenue bond financing and State/Federal grant or loan applications.
The Development Authority of Elbert County, Elberton & Bowman is a seven-member body appointed by the City of Elberton, Elbert County and the City of Bowman. The Development Authority acts as a conduit, issuing bonds to manufacturers. The financial markets set interest rates on such bonds. Taxable and Non-Taxable bonds are available for qualified projects. Non-Taxable Bond rates are often well below comparable rates for taxable financings because bondholders receive favorable treatment of interest earned for income tax purposes. There are rigorous guidelines to qualify for Non-Taxable bonds.
While the law imposes no minimum size on bond financing, the complexities involved in structuring and obtaining approvals for such financings can result in transaction costs which are higher than those for traditional taxable financings. These transaction costs may make it prohibitive to undertake financings of less than a certain size, since the advantage to the borrower of lower interest rates would be offset by the increased transaction costs. Generally, a bond financing is most efficient when the size of the financing is at least $2-$5 million. To reduce these higher transaction costs, it is often possible to combine present projects with projects to be financed within the next few years.
The Development Authority has established the following policies and procedural guidelines governing its consideration of industrial revenue bond applications:
2. The Development Authority charges the applicant administrative fees.
3. The Development Authority pays no costs, taxes, legal fees, etc.;
the applicant pays all expenses associated with the financing.
4. The Development Authority has legal representation and the project itself must have a bond attorney. All costs associated are paid by the project.
Fees for a bond issue to be paid by applicant are:
* All legal fees for bond attorney and Development Authority attorney
* Any other associated fees.
Tier One – This designation by the State of
HUBZone (SBA designation) – Entire county is in HUBZone. Click here for information.
New Market Tax Credits (Federal designation) – Entire county qualifies. Click here for information.
Appalachian Regional Commission - Click here for information.
Incentive Partners
State of Georgia, click here.
OneGeorgia Authority, click here.
Appalachian Regional Commission, click here.
USDA Rural Development, click here.
Northeast Georgia Regional Commission, click here.
Georgia Department of Community Affairs, click here.
Quick Information on Taxes in Elbert County
Sales and Use Tax 7% (includes 4% tax by State of Georgia)
Elbert County's Effective Tax Rate per $1000 $11.10
Elbert County, Georgia Tax Assessors Information click here.