Single/head of household – lesser of tax liability or $1,000

Married filing jointly – lesser of tax liability or $2,500

Married filing separately – lesser of tax liability or $1,250

Owners of S corporations, LLCs and partnerships – up to $10,000 of the taxpayer’s tax liability from pass-through entities selected by the taxpayer. The tax credit is 5.5% of the taxpayer’s Georgia estimated income from pass-through entities.

C corporations and fiduciaries – up to 75% of estimated state income tax liability

Any unused tax credits for individuals may be carried forward for up to five years! Contact your tax professional for details.