- The base amount of a business that has no Georgia gross receipts during any one or more of the three preceding tax years will be determined by multiplying the current year Georgia gross receipts by 30%
- Any qualified research expense credit earned before January 1, 2012, and any attributed credit carry-forward will be governed under Ga. Code Ann. §48-7-40.12 as in effect for the taxable year when the credit was earned, including but not limited to determining if such credit or any credit carry-forward may be taken as a credit against the taxpayer’s quarterly or monthly wage withholding payments under Ga. Code Ann. §48-7-103
- A taxpayer need not have had a positive taxable net income for the preceding three taxable years in order to claim the credit
How to Obtain the Credit?
For a business enterprise to claim the research tax credit, the business enterprise must submit Form IT-RD
Refundable/Transferable Tax Credit – No