PST has helped our clients to save hundreds of
thousands of dollars in State taxes through the Georgia
Re-training Tax Credit program.
If your business is a corporation that pays state taxes in Georgia, we can show
you how to save money too. If you meet the following qualifications, PST’s tax
consultant can work with you.
How do we do it?
-
PST submits your company’s application for qualification by the state of
Georgia.
-
PST tracks the students, courses and course evaluations as per requirements by
the state of Georgia.
-
PST creates a tax packet, containing all necessary information for submitting
your state taxes.
-
PST provides you with Quarterly and Annual tax credit status reports.
Qualifications include:
-
Corporation must pay Georgia State Income Tax.
-
Employees receiving training must be Georgia residents.
-
Employees must have been with your company for minimum of four months.
-
Training must be upgrading skills.
To compute your net training cost for each class, follow this formula:
|
Cost of the class and materials |
| + |
Cost of
the employee's time |
| = |
Total Cost of training the employee |
| - |
TAX CREDIT |
| |
Tax
credit is equal to 50% of the total cost, up to a maximum of $500 per
person/class. This credit is applicable to taxes due for that quarter. |
| = |
Net Cost of training your employee |
|