Proposed Reduction in GA Tax Credits - Advanta Tax Advisors, LLC


Proposed Reduction in GA Tax Credits


  Posted June 18, 2020 at 08:00 AM

Proposed Reduction in Georgia Tax Credits and Exemptions Detrimental to Manufacturers and Technology Businesses

 

Georgia’s Senate Finance Committee is poised to adopt extensive changes to various tax credits and sales tax exemptions to offset the pandemic related revenue shortfall.  Proposed changes to the Georgia Research Tax Credit include reducing the credit rate from 10% to 7.5% with the additional 2.5% only allowed for research expenses in excess of the prior 3 year average.

Additional impacts of the Tax Reform Proposal included in a Senate substitute to House Bill 1035 include:

 Please contact your Georgia Senator, Senate Finance Committee member and Lieutenant Governor Geoff Duncan to communicate the negative impact of these reductions on your business. 

 


Senate Finance Committee members include:

 

Committee Chairman Chuck Hufstetler (District 52-Rome) (Republican)

            Email – chuck.hufstetler@senate.ga.gov

            Phone – (404) 656-0034

 

Committee Vice Chairman John Albers (District 56-Roswell) (Republican)

            Email – john.albers@senate.ga.gov

            Phone – (404) 463-8055

 

Committee Secretary Chuck Payne (District 54-Dalton) (Republican)

            Email – chuck.payne@senate.ga.gov

            Phone – (404) 463-5402

 

Senator Bill Heath (District 31-Bremen) (Republican)

            Email – billheath@billheath.net

            Phone – (404) 656-3943

 

Senator Lester Jackson (District 2-Savannah) (Democrat)

            Email – lester.jackson@senate.ga.gov

            Phone – (404 463-5261

 

Senator Nan Orrock (District 36-Atlanta) (Democrat)

            Email – nan.orrock@senate.ga.gov

            Phone – (404) 463-8054

 

Senator Michael “Doc” Rhett (District 33-Marietta) (Democrat)

            Email – michael.rhett@senate.ga.gov

            Phone – (404) 656-0054

 

Senator Bruce Thompson (District 14-White) (Republican)

            Email – bruce.thompson@senate.ga.gov

            Phone – (404) 656-0065

 

Senate President Pro Tempore Butch Miller (District 49-Gainesville) (Republican)

            Email – butch.miller@senate.ga.gov

            Phone – (404) 656-6578

 

Senator Ellis Black (District 8-Valdosta) (Republican)

            Email – ellis.black@senate.ga.gov

            Phone – (404) 463-6597

 

Senator Bill Cowsert (District 46-Athens) (Republican)

            Email – bill.cowsert@senate.ga.gov

            Phone – (404) 463-1366

 

Lieutenant Governor Geoff Duncan (Republican)

            Phone – (404) 656-5030

            Via website – www.ltgov.georgia.gov