Tax exemptions help Georgia businesses invest in what’s needed most to expand and profit.
While tax credits promote actions that drive both company growth and economic growth, tax exemptions are focused on saving money for businesses. They help small and large companies reduce up-front costs on business purchases and maintain healthy product inventory.
Georgia’s tax exemptions take two primary forms:
Many types of machinery and equipment are exempt from both state and local sales taxes. Together, that amounts to a 5-8 percent savings on purchases.
Georgia businesses pay no state property taxes on inventory held in their factories and warehouses. In many Georgia counties, inventory is exempt from local property taxes as well.