Georgia Retraining Tax Credits Summary 2018
Did you know that retraining tax credits enable Georgia businesses to offset their investment in employees? Whether retraining workers to use new equipment or new technology or upgrading the company’s competitiveness with ISO 9000 training, companies can afford more training, more often, thanks to Georgia’s retraining tax credits program.
Here’s what you need to know..
Georgia Retraining Tax Credits Details
The Georgia Tax Credit for Retraining of Employees provides tax credits according to the “Georgia Business Expansion Support Act of 1994” as amended.
An eligible business enterprise may be granted tax credits against its Georgia state tax liability:
- Equal to one half of the direct cost of retraining
- Up to $500 per approved training program per year for each full-time employee who has successfully completed an approved retraining program; The credit amount shall not exceed $1,250 per year per full-time employee who has successfully completed more than one approved retraining program
- Up to 50 percent of the amount of the taxpayer’s income tax liability for the taxable year as computed without regard to this Code.
Eligible expenses include:
- Costs of instructors and teaching materials
- Employee wages during retraining
- Reasonable travel expenses
Retraining may be provided by any qualified source, including:
- Company trainers
- Training vendors
- Technical colleges or universities
Empower Your Workforce in 2019
Improve your competitive advantage year over year by budgeting for recurring technology training. Your employees will thank you! You work hard enough for your clients — make sure that your software is working hard for you.
Our trainers have extensive real-world knowledge. The certified trainers at Strategies Group conduct specialized business software training through web-based sessions or at your location. Participating in a training course will ensure that your entire team is up to speed and able to get the most out of your software investment in 2019.