Fillable IT-CA 2012 GEORGIA JOB TAX CREDIT (City of Marietta)

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IT-CA 2012 GEORGIA JOB TAX CREDIT (City of Marietta)

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IT-CA 2012 GEORGIA JOB TAX CREDIT
(This form is to be used by taxpayers who initially claim the credit for any taxable year beginning on or after 1/1/2012.)*
Part I. CERTIFICATION AND INSTRUCTIONS
A. CERTIFICATION FOR GEORGIA JOB TAX CREDIT PROGRAM
1. Name of business claiming credit Phone Number ( )
Street Address City State Zip Code
2. County(s)/Census Tract Area(s) in which the new full-time jobs have been created
3. Street address(s) of site(s) where new full-time jobs have been created
4. List the products or services (NAICS/SIC Codes) provided by the business at the site(s) listed above
prior to
the
rules
ge
5. Fiscal year of the business named above
6. Tax year of the business, if different
7
.
If the County(s)/Census Tract Area(s) listed above was redesignated any year when jobs were created, has the company filed a Notice of
Intent for Georgia Jobs Tax Credit? [ ] Yes [ ] No Date Notice was accepted by the Commissioner of Community Affairs:
8. Is the company listed above entitled to benefits of the Job Tax Credit Program by transfer from another company? If so, explain.
(Note that separate Sections II, III, and IV must be filed if new jobs have been created in more than one eligible county/census tract area.)
I, the undersigned, certify that the above listed information is true and correct to the best of my knowledge and that the jobs created are part of
business' operation that provides the NAICS/SIC products or services listed above and that the business has abided by all Job Tax Credit Program
and regulations. Note that this certification includes new program requirements established in law in 2001 concerning required avera
wages and provision of health insurance.
________________________________________ _________________________________________
Contact Person/Agency Signature of Company Officer
_
_______________________________________ _________________________________________
Contact Phone Number Title
IT-CA 2012
A taxpayer who creates a new year one under DCA regulations on or after 1/1/2012 is eligible to claim the job tax credit using this form.
*
The Georgia Job Tax Credit Program provides tax credits under Article 2 of Chapter 7 of Title 48 of the Official Code of Georgia Anno-
tated for certain businesses that create and retain sufficient new full-time jobs. Businesses that may benefit from the tax credit include
those engaged in the manufacturing, warehousing and distribution, processing, telecommunications, broadcasting, biomedical manu-
facturing, research development or tourism industries or the headquarters of any business engaged in such industries. Businesses
engaged in services for the elderly and persons with disabilities may benefit from the county tier program (O.C.G.A 48-7-40). Depend-
ing on where (what county or census tract area) jobs are created, a minimum of an average of 2, 5, 10, 15, or 25 net new full-time jobs
must be created. Job creation thresholds must be met by individual county/census tract area. The credit is $3,500 (for tier 1 counties
and eligible census tract areas), $2,500 (for tier 2 counties), $1,250 (for tier 3 counties) or $750 (for tier 4 counties) annually for each
new full-time job. The credit can be taken for five years beginning with the first taxable year in which the new full-time job is created and
for the four immediately succeeding taxable years. Each year, all counties in the state are ranked and divided into four tiers: tier 1 in-
cludes 71 counties, tier 2 includes 35 counties, tier 3 includes 35 counties, and tier 4 includes 18 counties. Census tracts are ranked
each year and are similar statistically to the bottom 71 counties in the state (tier 1). IN ORDER TO COMPLETE THIS FORM, a copy of
the program regulations must be obtained from the Georgia Department of Community Affairs web page at: http://www.dca.ga.gov/
economic/TaxCredits/programs/taxcredit.asp this page contains information on current county and census tract designations as well as
other details to assist in filing for the job tax credit. Please attach this form to the taxpayer’s Georgia Income Tax Return.
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expired). Note that if jobs created under the county tier program (O.C.G.A. 48-7-40) have been created within a
multi-county joint development authority area, the of credit is increased by $500 per job. An existing
business enterprise as defined in O.C.G.A. 48-7-40(a)(4) will qualify for an additional $500 credit for each new full-
time job the first year in which the new full-time job is created, subject to the conditions and limitations in O.C.G.A
48-7-40 and DCA and DOR regulations. Also note that if jobs on Line 11 were created in different years, credit
amounts per job may vary depending on the credit amounts applicable in the years the jobs were created. See the
Job Tax Credit Regulations for further details.
of new jobs which have been maintained.
IT-CA 20 Page 2
B. INSTRUCTIONS
Part I
In order to complete Part 1 (CERTIFICATION AND INSTRUCTIONS) and the remainder of IT-CA 20, the taxpayer must be familiar
with the law and regulations. Applicable law includes O.C.G.A. 48-7-40, O.C.G.A. 48-7-40.1, and O.C.G.A. 36-62-5-1.
Part II
Provide the information requested on the number of full-time jobs at the end of each month based on the taxpayer’s fiscal year.
(See regulations issued by the Georgia Department of Community Affairs for further information.)
Part III-V
Year 1 is the tax year of new jobs increase and the Prior Year is the preceding tax year. (See Rule 110-9-1-.01 of the Job Tax
Credit Program Regulations for the definition of these and other terms.)
Line 1 Total employees is the total of full-time employees subject to Georgia income tax withholding at the end of each
applicable monthly reporting period.
Line 2 Number of months of operation in each tax year (usually 12).
Line 3 Monthly average of full-time employees (line 1 divided by line 2). Round to the nearest whole number.
Line 4 Previous year's monthly average from line 3.
Line 5 Average increase (decrease) in full-time employees (line 3 less line 4).
Line 6-10 Enter the appropriate average increase in the initial job creation year, with additional years reflecting the number
See Rule 110-9-1-.03 of the
Line 11 Number of jobs eligible for credit equals the total of lines 6 - 10.
Line 12 Multiply line 11 by $3,500, $2,500, $1,250 or $750 depending on whether the business created jobs in a tier 1
county or eligible census tract area ($3,500 credit), tier 2 county ($2,500 credit), tier 3 county ($1,250 credit), or
tier 4 county ($750 credit) and add to this figure the amount of any unused credits from previous years. (The
unused credit amounts may not include credits designated to be used against withholding or credits that have
Line 13 Enter the amount of tax liability for this tax year before any Job Tax Credit.
Line 14 Enter 50% of line 13 (for tier 3 or 4) or 100% of line 13 (for tier 1 or 2).
Line 15 Enter the lesser of line 14 or line 12. (Amount of Job Tax Credit for current year.)
Line 16 Enter t amount of unused tax credits that may be carried forward: Line 15 minus line 12. Unused tax credit
may be carried forward for 10 years from the close of the tax year in which the qualified jobs were established.
Use the FIFO method to determine which tax credits expire at what time. See the Job Tax Credit Regulations for
further details.
NOTE:
The tax credit is calculated on the basis of the average number of new full-time jobs created by county or census
Job
Tax
Credit Program Regulations for
he
Other law
may be applicable depending on taxpayer circumstances. Applicable regulations include regulations issued by the Georgia Depart-
ment of Community Affairs (Rules 110-9-1-.01, 110-9-1-.02, and 110-9-1-.03) and those issued by the Georgia Department of
Revenue (Rule 560-7-8-.36).
detailed instructions.
tract area by taxpayer. Before any credit can be received, a business must create at least an average of 2 (desig
nated Opportunity Zone0ilitary Zone areasRUWLHUFRXQW\), 5 (Oess developed census tract area), 10 (tier 2
county), 15 (tier 3 county) or 25 (tier 4 county) new full-time jobs in an eligible county or census tract area. The
creation of 2, 5, 10, 15, or 25 jobs in two or more counties or census tract areas does not meet job threshold require-
ments.
amount
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IT- CA 20 GEORGIA JOB TAX CREDIT Page 3
II. NUMBER OF FULL-TIME EMPLOYEES SUBJECT TO WITHHOLDING
County
FYE
___
FYE
___
FYE
___
FYE
___
FYE
___
FYE
___
FYE
___
FYE
___
FYE
___
FYE
___
Month/Year Prior
Year
Year
1
Year
2
Year
3
Year
4
Year
5
Year
6
Year
7
Year
8
Year
9
1
2
3
4
5
6
7
8
9
10
11
12
III. COMPUTATION OF AVERAGE INCREASE IN FULL-TIME EMPLOYEES
Line 1: Total Employees
Line 2: Divided by: Number of Months in
Operation
Line 3: Monthly Average of Full-Time Employees
Line 4: Less: Previous Year Average
Line 5: Average Increase (Decrease) in
Full-Time Employees
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IT-CA 20 GEORGIA JOB TAX CREDIT P
age 4
IV. COMPUTATION OF EMPLOYEES ELIGIBLE FOR CREDIT
Year
1
Year
2
Year
3
Year
4
Year
5
Year
6
Year
7
Year
8
Year
9
Line 6: Year 1 Increase
Line 7: Year 2 Increase
Line 8: Year 3 Increase
Line 9: Year 4 Increase
Line 10: Year 5 Increase
V. COMPUTATION OF JOB TAX CREDIT
Line 11: Number of New Jobs Maintained.
Line 12: Available Credit (Line 11 x $3,500, $2,500, $1,250
Add $500 Bonus if Appropriate.
Line 13: Tax Liability (Before Job Tax Credit).
Line 14: Maximum Possible Credit (50% of line 13).
for tier 3 or 4; 100% of Line 13 for tier 1 or 2)
Line 15: Enter Lesser of Line 14 or 12.
Line 16: Unused Job Tax Credit.
or $750 Plus Previous Unused Credit).
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IT-CA 2012 GEORGIA JOB TAX CREDIT (City of Marietta)

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Completed 9 February 2021

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