Georgia grants tax credits to manufacturers of protective equipment

Personal protective equipment manufacturers in Georgia will receive tax relief of $ 1,250 per job for the next five years, with lawmakers saying they want to help businesses during the COVID-19 pandemic.

On Friday, the House voted 110-58 to accept changes to House Bill 846, sending it to Governor Brian Kemp for signature. Republican Kemp released a statement on Thursday supporting the bill.

The measure would provide tax credits to manufacturers of hand sanitizers, gloves, face masks, respiratory masks and other personal protective equipment, whether they manufacture items before or after the COVID epidemic. 19. Annual tax credits of $ 1,250 per job could be claimed for current jobs or jobs created before January 1, 2025.

Representative Burt Reeves, Republican of Marietta and leader of the Kemp prosecution, said the benefits are expected to cost the state between $ 4.3 million and $ 13.1 million in lost tax revenue.

The measure would also allow companies claiming one of Georgia’s largest tax credits, for creating jobs that pay above-average wages, to use their 2019 or 2020 job numbers to apply for state incentives. Reeves said the idea is that companies that may have laid off this year will receive at least as many benefits as they did last year, while companies that have continued to hire may benefit from larger incentives.

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