Tax Benefits Available to Georgia Manufacturers

Georgia provides a wealth of tax credits and sales tax exemptions for manufacturers based in the state. However, many Georgia manufacturers may be unaware of the benefits available to them. Claiming the various benefits usually requires the assistance of tax specialists because without professional help, claiming the credits and exemptions can be a difficult process to tackle.

Temporary Tax Breaks Extended for 2014

After much anticipation, last week Congress approved and President Obama signed into law the Tax Increase Prevention Act of 2014 (HR 5771) (“The Act”).

Pre-recorded Awards Shows Are Eligible for Film Tax Credits

Bennett Thrasher’s Chiquita Banks attended the taping of the 2014 BET Hip Hop Awards at the Atlanta Civic Center. This annual awards show is taped in Atlanta as our city is not only a global leader in hip hop but in the entertainment industry at large.

How Can Start-ups Benefit from a Research & Development Tax Study?

For many start-up companies money is tight and income (if any) is low. Since these companies are not paying any federal or state income tax, they are not interested in spending money to perform Research & Development (R&D) tax credit studies even though the credits could be carried forward and used in future taxable years.

Georgia Proposes New Sales and Use Tax Regulations for Restaurants

On May 16, 2014, the Georgia Department of Revenue (“DOR”) released Notice SUT 2014-002 which serves as notice that the DOR plans to adopt a new set of sales and use tax regulations pertaining to restaurants and similar establishments. The DOR has accepted comments on the proposed regulations but it is still to be determined when and in what form the regulations may be adopted.

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