R&D Tax Credit Available:
C-Corporation, S-Corporations, LLCs, Partnerships
Deadline for Tax Filing:
Due with Georgia Tax Return
Data Required to Compute Credit:
- Claim Period Georgia Qualified R&D Expenses (QREs)
- Claim Period Georgia Gross Receipts
- QREs for Prior 3 Years
- Gross Receipts for Prior 3 Years
R&D Credit Summary:
The R&D tax credit equals 10% of the amount claim period QREs exceeds the base amount.
- The R&D credit can be used to offset up to 50% of the income tax liability, after all other credits have been applied.
- Excess R&D tax credits can be used against state payroll withholding.