Investment tax credits range from 8% to 5% of qualified capital investment in Augusta-Richmond County. Investment tax credits are available to an existing manufacturing or telecommunications business that has operated a facility in Augusta-Richmond County for three years prior to the investment and invests $50,000 or more. Higher level credits of 8% are available for investment in recycled equipment, pollution control equipment, and for the conversion of a defense plant to manufacturing of a new product. The recycle, pollution control, and defense conversion options are available only for manufacturing plants. Taxpayers must choose either the investment tax credit or the job tax credit.

Investment tax credits can be used against 50% of income tax liability in a given year. Unused credits may be carried forward 10 years.

Job tax credits are available to a business or to its headquarters engaged in manufacturing, telecommunications, warehouse / distribution, research, and development, processing, or tourism. Taxpayers may choose between investment or job tax credits.

In the State of Georgia, all counties are listed as Tier 1, 2, 3, or 4 counties, with Tier 1 counties receiving the most job tax credits. Augusta-Richmond County is a Tier 1 county. Job tax credits for Augusta-Richmond County amounts to $4,000 per job each year for five years.

Job tax credits in Augusta-Richmond County (Tier 1) can be used against 100% of income tax liability. The excess over 100% is credited to Georgia withholding tax (with a limitation of $3,500 per job) in Tier 1 counties only. Unused job tax credits may be carried forward 10 years. In some cases, the unused job tax credits may be used toward employee withholding.