Georgia Code
Article 2 - Imposition, Rate, Computation, Exemptions, and Credits
§ 48-7-40.23. Election to Count New Jobs on Calendar Year Basis

Notwithstanding any provision to the contrary of Code Sections 48-7-40 and 48-7-40.1, business enterprises may apply to the commissioner to make a one-time election to calculate new full-time jobs on a calendar year rather than a taxable year basis for all jobs created during calendar year 2001. Such one-time election may be made by claiming job tax credits calculated on the basis set forth in Code Sections 48-7-40 and 48-7-40.1 in connection with any 2002 state income tax return filed after the effective date of this Code section. Such election will not change the taxable year of the business enterprise.
History. Code 1981, § 48-7-40.23 , enacted by Ga. L. 2001, p. 984, § 10.
Code Commission notes.
Pursuant to Code Section 28-9-5, in 2001, Code Section 48-7-40.21, as enacted by Ga. L. 2001, p. 984, § 10, was redesignated as Code Section 48-7-40.23.

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Structure Georgia Code

Georgia Code

Title 48 - Revenue and Taxation

Chapter 7 - Income Taxes

Article 2 - Imposition, Rate, Computation, Exemptions, and Credits

§ 48-7-20. [Effective Until January 1, 2024. See note.] Individual Tax Rates; Credit for Withholding and Other Payments; Applicability to Estates and Trusts

§ 48-7-20. [Effective January 1, 2024. See note.] Individual Tax Rates; Credit for Withholding and Other Payments; Applicability to Estates and Trusts

§ 48-7-20.1. One-Time Tax Rebates for Qualified Taxpayers

§ 48-7-21. Taxation of Corporations

§ 48-7-21.1. Compensation Paid by Taxpayer Disallowed as Business Expense; Applicability

§ 48-7-22. Taxation of Fiduciaries; Rate; Taxable Net Income of Estate or Trust; Exemptions; Computation of Net Income; Determination of Taxable Year; Tax as Charge Against Estate or Trust

§ 48-7-23. Taxation of Partnerships; Computation of Net Income; Disallowance of Charitable Contributions; Individual Liability of Partners; Individual Returns of Distributive Shares; Taxable Years; Elections

§ 48-7-24. Nonresident Members of Resident Partnerships; Resident Members of Nonresident Partnerships; Profits; Distributive Shares; Taxability; Applicability

§ 48-7-25. Exempt Corporations and Organizations; Procedure for Obtaining Exempt Status; Revocation of Exempt Status; Grounds; Retroactivity; Statute of Limitations; Information Returns; Unrelated Business Income; Deductibility of Death Benefit Payme...

§ 48-7-26. [Effective Until January 1, 2024. See note.] Personal Exemptions

§ 48-7-26. [Effective January 1, 2024. See note.] Personal Exemptions

§ 48-7-27. [Effective Until January 1, 2024. See note.] Computation of Taxable Net Income

§ 48-7-27. [Effective January 1, 2024. See note.] Computation of Taxable Net Income

§ 48-7-28. Reciprocity

§ 48-7-28.1. Tax Repayments and Benefits

§ 48-7-28.2. Employer Social Security Credits

§ 48-7-28.3. Expenses From Transactions With Related Members

§ 48-7-28.4. Adjustments to Taxes; Disallowing Expenses Paid to Certain Real Estate Investment Trusts; Procedures, Conditions, and Limitations

§ 48-7-29. Tax Credits for Rural Physicians

§ 48-7-29.1. Tax Credits for Retrofitting Certain Single-Family Homes With Accessibility Features

§ 48-7-29.2. Tax Credits for Qualified Caregiving Expenses

§ 48-7-29.4. Tax Credits for Disaster Assistance Funds Received

§ 48-7-29.6. Tax Credits for Qualified Low-Income Buildings

§ 48-7-29.7. Tax Credits for Depository Financial Institutions

§ 48-7-29.9. Tax Credits for Qualified Life Insurance Premiums for National Guard and Air National Guard Members

§ 48-7-29.10. Tax Credits for Qualified Child and Dependent Care Expenses

§ 48-7-29.11. Tax Credits for Certain Teleworking Expenses

§ 48-7-29.12. Tax Credits for Qualified Donation of Real Property

§ 48-7-29.13. Tax Credits for Qualified Health Insurance Expenses

§ 48-7-29.14. Tax Credits for Clean Energy Property

§ 48-7-29.15. Tax Credits for the Adoption of Foster Children

§ 48-7-29.16. [Effective Until January 1, 2023. See note.] Tax Credits for Contributions to Student Scholarship Organizations

§ 48-7-29.16. [Effective January 1, 2023. See note.] Tax Credits for Contributions to Student Scholarship Organizations

§ 48-7-29.17. Tax Credit for the Purchase of One Eligible Single-Family Residence

§ 48-7-29.18. Tax Credits for Purchasers of Alternative Fuel Heavy Duty and Medium Duty Vehicles

§ 48-7-29.19. Procedures, Conditions, and Limitations on Amount of Tax Credits for Purchasers of Alternative Fuel Heavy-Duty and Medium-Duty Vehicles

§ 48-7-29.20. [Effective Until January 1, 2023. See note.] Tax Credits for Contributions to Rural Hospital Organizations

§ 48-7-29.23. Tax Credits for Teachers in the Teacher Recruitment and Retention Program

§ 48-7-29.24. Tax Credits for Contributions to Foster Child Support Organizations

§ 48-7-29.25. Tax Credits for Contributions to Law Enforcement Foundations

§ 48-7-30. Taxation of Nonresident’s Entire Net Income Derived From Activities Within State; Separate Accounting Possible; Applicability; Allowed Deductions; Applicability of Provisions for Corporations to Nonresidents

§ 48-7-31. Taxation of Corporations; Allocation and Apportionment of Income; Formula for Apportionment

§ 48-7-31.1. Conditions for Allocating Taxpayer’s Income Pursuant to Agreement; Public Inspection; Criteria for Evaluating Proposals

§ 48-7-32. Taxation of Railroad and Public Service Corporations; Computation of Net Income Where Business Is Within and Outside State; Net Income for All Other Such Corporations

§ 48-7-33. Annual Accounting Periods

§ 48-7-34. Returns of Corporations and Nonresidents Based Upon Books of Account; Application to Commissioner; Time; Contents

§ 48-7-35. Application for Permission to Use Other Method of Allocation by Corporation or Nonresident; Contents; Effect of Failure to Receive Notice of Rejection

§ 48-7-36. Tolling of Time Limits for Filings by Reason of War Related Service in Armed Forces

§ 48-7-37. Taxes Due From Members of Armed Forces Dying on Active Duty; Applicability of Tax to Particular Taxable Years; Assessment of Unpaid Taxes; Abatement; Credit or Refund of Collected Payments

§ 48-7-38. Deduction for Payments to Minority Subcontractors; Certification as Minority Subcontractor

§ 48-7-39. Depreciation of Property Placed in Service in Prior Tax Years

§ 48-7-40. Designation of Counties as Less Developed Areas; Tax Credits for Certain Business Enterprises

§ 48-7-40.1. Tax Credits for Business Enterprises in Less Developed Areas

§ 48-7-40.1A. Additional Job Tax Credits for Manufacturers of Personal Protective Equipment

§ 48-7-40.1B. Tax Credit for Jobs Created by Manufacturers of Medical Equipment, Medical Supplies, Pharmaceuticals, or Medicine

§ 48-7-40.2. Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 1 Counties

§ 48-7-40.3. Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties

§ 48-7-40.4. Tax Credits for Existing Manufacturing and Telecommunications Facilities or Manufacturing and Telecommunications Support Facilities in Tier 3 or 4 Counties

§ 48-7-40.5. Tax Credits for Employers Providing Approved Retraining Programs

§ 48-7-40.6. Tax Credits for Employers Providing Child Care

§ 48-7-40.7. Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 1 Counties

§ 48-7-40.8. Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities in Tier 2 Counties

§ 48-7-40.9. Optional Tax Credits for Existing Manufacturing and Telecommunications Facilities or Manufacturing and Telecommunications Support Facilities in Tier 3 and 4 Counties

§ 48-7-40.12. Tax Credits for Qualified Research Expenses

§ 48-7-40.14. Calculation of New Full-Time Jobs

§ 48-7-40.15. Alternative Tax Credits for Base Year Port Traffic Increases

§ 48-7-40.15A. Increased Job Tax Credit Based on Increase in Port Traffic

§ 48-7-40.16. Tax Credits for Alternative Fuel, Low-Emission and Zero-Emission Vehicles, and Electric Vehicle Chargers

§ 48-7-40.17. Tax Credits for Establishing or Relocating Quality Jobs

§ 48-7-40.18. Tax Credits for Businesses Headquartered in State; Full-Time Jobs

§ 48-7-40.20. Tax Credits for Businesses Engaged in Manufacturing Cigarettes for Exportation; Amount; Required Information

§ 48-7-40.21. Tax Credits for Existing Business Enterprises Undergoing Qualified Business Expansion; Recapture; Application of Credit

§ 48-7-40.22. Tax Credits for Business Enterprises for Leased Motor Vehicles; Daily Ridership; Implementation

§ 48-7-40.23. Election to Count New Jobs on Calendar Year Basis

§ 48-7-40.24. Tax Credits for Jobs Associated With Large-Scale Projects

§ 48-7-40.25. Tax Credits for Investment in Expanding Existing Manufacturing Facilities; Enhancements for High-Impact Aerospace Defense Projects

§ 48-7-40.26. Tax Credits for Film, Gaming, Video, or Digital Production

§ 48-7-40.26A. Tax Credits for Postproduction Expenditures

§ 48-7-40.27. Tax Credits for Qualified Investments in a Research Fund

§ 48-7-40.28. Limitation on the Aggregate Amount of Tax Credits Allowed for Qualified Investments in a Research Fund

§ 48-7-40.29. [For Effective Date, See note.] Tax Credits for Certain Qualified Equipment That Reduces Business or Domestic Energy or Water Usage

§ 48-7-40.30. Tax Credits for Certain Qualified Investments for Limited Period of Time

§ 48-7-40.31. Tax Credits for Employing Qualified Parolees

§ 48-7-40.32. Revitalization Zone Tax Credits

§ 48-7-40.35. Tax Credits for Qualified Employers; Conditions and Limitations to Credit; Requirements for Being Qualified Employer

§ 48-7-40.36. Tax Credits for Timber Producers Incurring Losses From Hurricane Michael

§ 48-7-41. Basic Skills Education Program Credits

§ 48-7-42. Affiliated Entities; Assignment of Corporate Income Tax Credits; Carryover of Unused Credits; Joint and Severable Liability