Georgia R&D Tax Credits
Find out if you qualify for R&D tax credits in Georgia and recharge your business
Research and development (R&D) tax credits are a valuable benefit for companies conducting qualified R&D activities in Georgia. Any business - from start-ups to existing companies embarking on R&D for the first time, or established companies expanding their existing R&D budget - can be eligible for Georgia R&D tax credits.
R&D tax credits are available to any company that increases its qualified research expenditures, and credit earned 10% of the increase in R&D spending compared to the base amount. The credit can be used to offset up to 50% of net Georgia income tax liability, after all other credits have been applied.
Any unused R&D tax credits can be carried forward for up to 10 years. In addition, excess R&D tax credits can be used against state payroll withholding.
Learn more about Georgia's R&D Tax Credit law here and here.
R&D Tax Credit Available:
C-Corporation, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with Georgia Tax Return
Data Required to Compute Credit:
Claim Period Georgia Qualified R&D Expenses (QREs)
What Information is needed?
Claim Period Georgia Gross Receipts
The R&D tax credit equals:
- 10% of the tax period QREs that exceed the base amount.
Specific Items to Note:
- The R&D credit can be used to offset up to 50% of the income tax liability, after all other credits have been applied.
- Excess R&D tax credits can be used against state payroll withholding.
- Federal Form 6765 must be attached to Georgia Form IT-RD.