Georgia Retraining Tax Credit
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
• 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
CGCI Environmental Training Facility will assist you in qualifying for the retraining tax credit. If you register for a seminar or course four weeks in advance; we will supply you with an application form to complete and send it to your local community college with all required documentation for approval.
Certain direct costs are eligible for the Retraining Tax Credit. These costs include:
• Cost of CGCI Environmental Training Facility program
• Employee wages during the retraining
• Materials and supplies, textbooks and manuals
• Instructional media, such as videotapes, presentations, etc.
• Reasonable travel costs
Costs that are not eligible include sales taxes, training space, and employee-paid training. An employer may not receive a credit if the employer requires that the employee reimburse or pay the employer for the cost of retraining either directly or indirectly or through use of forfeiture of leave time, vacation time, or other compensable time.
To be eligible for the Retraining Tax Credit, employees must be
• Georgia residents
• First-line employees or immediate supervisor
• Continuously employed with the company for a minimum of 16 weeks
• Full-time employees (employed for a minimum of 25 hours per week)
Employees that are not eligible for the Retraining Tax Credit include executives, management, partners, etc. (above first-line supervisors.)