Incentives (Local, State, Federal)

• As a “tier-one” State of Georgia designated county, Sumter County businesses are eligible for state job tax credits of up to $4,000 for jobs created. See Program Link: Georgia Job Tax Credit Program.

Sumter County Freeport Tax Exemption
 

• Both the City of Americus and Sumter County offer Freeport Inventory Tax Exemptions at 100% on the following classes of personal property:
  • Manufacturer’s raw materials and goods-in-process inventory;
  • Manufacturer’s finished goods produced in Georgia within the last 12 months and held by the original manufacturer; and
  • Warehouse, distribution, or manufacturing firms with finished goods determined to be shipped outside of Georgia.

'In the Zone' means Sumter businesses can gain preferential access to federal contract awards and are able to receive a 10% price evaluation preference. Get your business certified as a HUBZone vendor, an SBA program for small companies operating within certain areas of the country. Sumter County is a certified HUBZone. This means your company can receive a 10% price preference in full and open procurements. The federal government has a goal to award at to be least 3% of all federal contracting dollars to HUBZone certified small businesses. Follow six easy steps through the below link.

VIEW HERE

Sumter County has received its Camera Ready designation from the Georgia Department of Economic Development. What this means to you is that we are trained to work with production companies to provide one-on-one local assistance. In addition, we know the perfect location for your shoot and can provide help and insight when it comes to film permits, lodging, etc.

In July 2020, Business Facilities Magazine ranked Georgia as the No.1 state for motion picture and TV production.

Television and film companies may receive a tax credit of up to 30% of the money spent on production and post-production. Minimum spending is $500,000.

Through the Georgia Entertainment Industry Investment Act, Georgia provides a 20% tax credit, with the State providing the other 10%. Little or no tax liability for your company? Transfer your tax credits.

According to Broderick Johnson, producer of The Blind Side, through the Georgia Department of Economic Development, “…Georgia’s tax break is one of the best, if not the best in the country.”

For more information about the credit and forms, CLICK HERE.

To read all about the Credit and find your contact, CLICK HERE.

ALWAYS CHECK WITH YOUR ACCOUNTANT.

The Federal Opportunity Zone is an Investment Credit Program within defined areas of Sumter County. It allows investors to defer the capital gains of other investments, into new projects within certain ‘Sumter County Zone’ designations. The program was designed as an economic tool to spur growth by providing tax benefits.

An investor can defer tax on gains:

• Until the date on which the Qualified Opportunity Fund is sold or exchanged, or through December 31, 2026
• Five years - 10% exclusion of the deferred gain
• Seven years - 15% exclusion of the deferred gain
• Ten years - eligibility for an increase in basis of the investment to its fair market value
• Property may be transferred rather than cash as an investment to the Qualified Opportunity Zone but may be only partially eligible for tax benefits.

We greatly appreciate qualifying for the Federal Opportunity Zone and consider it a great economic incentive.

To become certified as a Qualified Opportunity Fund, an eligible corporation must fill out Form 8996, filed timely.

If additional assistance is needed, please contact our office, your accountant, or the Department of the Treasury. You may find more information and guidance:

Federal Opportunity Zones – FAQs

ALWAYS CHECK WITH YOUR ACCOUNTANT.

They may find more information and guidance under IRC 1400Z-2 and by viewing the instructions on IRS Form 8949.