Georgia Tax Credit for Training Employees

ga-employee-training-tax-crGeorgia offers an income tax credit for businesses that retrain existing employees on new technology or software, quality management, and similar programs. The credit may offset 50% of the taxpayer’s liability. While the credit may be quite lucrative, companies sometimes overlook it.

Barnwell found such a case with a large telecommunications company that trained existing employees on an ongoing basis due to the steady-state implementation of new technologies. The company recovered about two hundred thousand dollars per year. Unfortunately, Georgia “pulled a fast one” and only allows companies to go back one year – so it is important for companies to claim their retraining credits as soon as possible, preferably on originally filed returns.

Learn how we can find tax credits like this for your company. Contact us today for a complimentary consultation.

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In Summary, Barnwell Consulting, LLC can:

  • Find state income/franchise tax refunds and have collected millions of dollars in cash refunds
  • Assist with altering corporate structure when good business purpose exists, to help lower state income tax liabilities
  • Assist with FIN 48 accruals, but more importantly with strategies to resolve FIN 48 uncertainty projects that help companies lower the state effective tax rate.
  • Handle complex income and sales/use tax audits and have been successful in eliminating or reducing material assessments
  • Assist clients with SALT issues in acquisitions and divestitures
  • Identify credits and incentives, which fall into two broad categories, statutory and negotiated. With respect to the former, we see our job less as identifying statutory credits – and more focused on whether our client has fully recognized the credit, and obtained the maximum possible benefit.