Life Sciences Manufacturing Job Tax Credit
On this page find information and instructions on Life Sciences Manufacturing Job Tax Credit
- Tax Credit Code: 148
- Tax Credit Code: 160 (2025)
- Carryforward shortened to 5 years
Summary
For taxable years beginning on and after January 1, 2021 and if certain requirements are met, a medical equipment and supplies manufacturer or pharmaceutical and medicine manufacturer that qualifies for and claims the jobs tax credit under O.C.G.A. §48-7-40 or O.C.G.A. §48-7-40.1 may claim an additional job tax credit of $1,250 per job for jobs engaged in the qualifying activity of manufacturing medical equipment or supplies or manufacturing pharmaceuticals or medicine. The credit may be used to offset 100 percent of the taxpayer’s Georgia income tax liability in the taxable year. Credits claimed but not used may be carried forward for 10 years.
For taxable years beginning on or after January 1, 2025, any credits generated but not used may be carried forward for five years. Where the amount of such credit exceeds the taxpayer’s tax liability in a taxable year, the excess may be taken as a credit against such taxpayer’s quarterly or monthly withholding tax.
Forms
To claim this credit against withholding, a taxpayer must file Form IT-WH timely. No taxpayer shall be eligible for this tax credit for any job for which the taxpayer claims the tax credit provided for under O.C.G.A. §48-7-40.1A, or for any job created pursuant to O.C.G.A. §48-7-40 or §48-7-40.1 prior to July 1, 2021.
IT-WH Notice of Intention to Claim Withholding Benefit