Retraining Tax Credits
The purpose of the Job Retraining Tax Credit is to:
- foster the profitability and competitiveness of Georgia’s existing businesses by encouraging workforce development through retraining tax incentives;
- help companies offset the costs of retraining employees that are affected by the implementation of new equipment or new technology;
- enhance the skills of Georgia employees to enable them to successfully use new equipment, technology, or operating systems.
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.
Find out more about Georgia’s Job Retraining Tax Credit at https://tcsg.edu/all_documents/retrainingtaxcreditguide.pdf.