Retraining Tax Credit

Income Tax Credit

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;
• 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.

Any tax credit claimed under this Code for any taxable year beginning on or after January 1, 1998, but not used for any such taxable year may be carried forward for ten years from the close of the taxable year in which the tax credit was granted. Credit can be claimed in the tax year that the retraining occurs. If cost for a retraining program spans more than one year, the costs are to be claimed in the year in which the retraining occurs.

For more information, contact Southwest Georgia Technical College’s Vice President of Economic Development at 229-227-2414.