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Take advantage of rural zone business tax credits


Sponsored by ChanceyBanner Aug17

The city's rural zone Submitted photo The city's rural zone

In 2020, the City of Douglas was designated as a RURAL Zone by the Georgia Department of Community Affairs.  Downtown businesses that are located within the RURAL Zone may qualify for tax credits relating to property purchase, rehabilitation costs, and job creation.

 

Investors who purchase a building in the RURAL Zone may receive an Investment Tax Credit which is which is equivalent to 25% of the purchase price of the building.  A business owner who rehabilitates a business in the Zone may qualify for a Rehabilitation Tax Credit equivalent to 30% of qualified rehabilitation costs.  If a business in the Zone creates new jobs or hires at least 2 new employees, that business may quality for the Job Tax Credit, which offers $2,000 per new full-time equivalent job created.  Each of the three tax credits is dependent upon the creation of at least two new full-time equivalent jobs.

 

To see if your business is located in the RURAL Zone, go to https://www.cityofdouglas.com. Anyone interested in applying for the RURAL Zone tax credits, please contact Georgia Henderson, Community Development Director, 912-383-0277 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

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