Form It-Qj - Georgia Department Of Revenue Application For Georgia Quality Jobs Tax Credit Page 7
Download a blank fillable Form It-Qj - Georgia Department Of Revenue Application For Georgia Quality Jobs Tax Credit in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form It-Qj - Georgia Department Of Revenue Application For Georgia Quality Jobs Tax Credit with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7
8IT-QJ
PRINT
CLEAR
(REV 10
)
Credit Calculation*
Year
Year
Year
Year
Year
Year
Year
Year
Year
Year
Year
1
2
3
4
5
6
7
8
9
10
11
Line 1: Credit Amount for new quality
jobs created in Year 1. Multiply Line 1
(from page 6), by $2,500, $3,000,
$4,000, $4,500, or $5,000.
Line 2: Credit Amount for new quality
jobs created in Year 2. Multiply Line 2
(from page 6), by $2,500, $3,000,
$4,000, $4,500, or $5,000.
Line 3: Credit Amount for new quality
jobs created in Year 3. Multiply Line 3
(from page 6), by $2,500, $3,000,
$4,000, $4,500 or $5,000.
Line 4: Credit Amount for new quality
jobs created in Year 4. Multiply Line 4
(from page 6), by $2,500, $3,000,
$4,000, $4,500 or $5,000.
Line 5: Credit Amount for new quality
jobs created in Year 5. Multiply Line 5
(from page 6), by $2,500, $3,000,
$4,000, $4,500 or $5,000.
Line 6: Credit Amount for new quality
jobs created in Year 6. Multiply Line 6
(from page 6), by $2,500, $3,000,
$4,000, $4,500 or $5,000.
Line 7: Credit Amount for new quality
jobs created in Year 7. Multiply Line 7
(from page 6), by $2,500, $3,000,
$4,000, $4,500 or $5,000.
Line 8: Credit amount
Line 9: Carryover from prior years
Line 10: Add lines 8 and 9, total credit
amount
*
Taxpayer shall receive the same credit amount for each new quality job created in the same tax year. Taxpayer must recalculate their credit amount each year the credit is claimed. To
calculate the taxpayer’s credit amount, the taxpayer must calculate the average weekly wage for all new quality jobs in a taxable year. To calculate the average weekly wage for all new
quality jobs in a taxable year, the taxpayer must add all wages for all new quality jobs in that taxable year and divide the result by the average number of all new quality jobs, then divide
the result by 52 to arrive at the average weekly wage paid to each new quality job; then the taxpayer must compare their average weekly wage to the county average weekly wage (using
the county average wage from the year in which the new quality jobs were created). If the taxpayer’s average weekly wage for all new quality jobs in a taxable year is: 110% or more but
less than 120% of the average wage of the county in which the new quality jobs are located then the credit amount is $2,500; 120% or more but less than 150% of the average wage of the
county in which the new quality jobs are located then the credit amount is $3,000; 150% or more but less then 175% of the average wage of the county in which the new quality jobs are
located the credit amount is $4,000; 175% or more but less then 200% of the average wage of the county in which the new quality jobs are located the credit amount is $4,500; 200%
or more of the average wage of the county in which the new quality jobs are located the credit amount is $5,000. If in years two through seven the taxpayer’s average weekly wage/county
average wage is less than 110 percent of the applicable county average wage in which the new quality jobs are located, the taxpayer will be entitled to claim a credit of $2,500 for each of the
additional new quality jobs created in such taxable year(s).
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form F-1193 - Florida Department Of Revenue Application For Florida Renewable Energy Production Credit Allocation
Financial
Form Ur-j - Application For Eligibility - Urban Job Tax Credit Program - Florida Department Of Economic Opportunity
Legal
Related Categories
Parent category: Financial