R&D Tax Incentive

Did you know that Georgia provides a tax incentive for research and development? O.C.G.A. § 28-5-41.1 provides an income tax credit equal to 10% of a business enterprise’s year-over-year increase in qualified research expenses. Qualified research expenses include filing patents on any new and useful improvement to a business enterprise's operations whether it be improving operational systems like software, manufacturing equipment, designs for new equipment and many other things. The tax incentive not only reduces taxable income, but also increases the value of a business through ownership of intellectual property.