GEORGIA COMPETITIVE ADVANTAGES
Low Corporate Taxes / Single Factor Apportionment: In 2005, Georgia became the first state in the Southeast to adopt a "Single Factor Gross Receipts" apportionment formula. This apportionment formula treats a company's gross receipts or sales in Georgia as the only relevant factor in determining the portion of that company's income subject to Georgia's 6 percent corporate income tax - which is among the lowest in the nation. Georgia is one of only 12 states currently using Single Factor Apportionment which significantly reduces the effective rate of Georgia income taxation of companies with substantial sales to customers outside Georgia.
High Bond Ratings: Georgia is one of only a handful of states to have the highest bond ratings (AAA) from all three major municipal bond rating agencies - Moody's, Fitch, and Standard & Poor's. This AAA bond rating of Georgia proves to investors that Georgia is a "safe bet" for business.
Top Rankings/ Year after year, Georgia ranks as a "top 10" state for business: In November 2013, Site Selection magazine named Georgia as the "Number One State in the Nation for Business." Site Selection magazine named Georgia the "Number One Most Competitive State" in May, 2014. In June, 2014, CNBC, a world-leading news source for business and financial information, named Georgia "America's Top State for Business." According to the Tax Foundation's 2013 State Business Tax Climate Index Rankings, Georgia is ranked 1st in the Southeastern U.S. and 9th in the nation for the "Lowest Corporate Taxation." The "Corporate Taxation Index" is a measurement of all the standard taxes corporations are typically required to pay in a given state relative to another state. According to Forbes' 2012 Best States for Business & Careers Rankings, Georgia was ranked 2nd in the U.S. for having the best "Business Regulatory Environment." According to CNBC's 2012 Top States for Business Rankings, Georgia was ranked 1st in the U.S. for having the "Best Workforce." CNBC also ranked Georgia 3rd in the U.S. for having the "Best Transportation Infrastructure."
Net Operating Loss Carry-Forward and Carry-Back Advantages: Georgia has a Net Operating Loss Carry-Forward Advantage of 20 years. A carry-forward advantage is a provision to carry losses forward to reduce the tax base for a given year. Georgia has a Net Operating Loss Carry-Back Advantage of 2 years. A carry-back advantage is a provision to carry losses back to reduce the tax base for a given year.
One Stop Environmental Permitting: Georgia is one of a few states whose environmental permitting program is consolidated with the U.S. Environment Protection Agency (EPA). The Georgia EPD can issue federal permits; has a one-stop process that provides faster turnaround than most states; the (Georgia EPD) director is authorized to grant all permits provided for by EPD-enforced laws including air quality control, water quality control, withdrawal, hazardous waste management, solid waste management and wastewater land application. The Georgia EPD is allowed by the EPA to issue permits under the Federal Clean Water, Clean Air and Safe Drinking Water Acts. This reduces government red tape and enables companies to acquire required permits more quickly.
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