IT-IC: Investment Tax Credit (2025)
Georgia · Georgia DOR · Used for tax years 2025
Georgia Form IT-IC calculates the investment tax credit for approved qualified investment property. It reports property costs, current-year credit, credit carried over from prior years, the amount claimed on the return, and unused credit.
Who files this form
Use Form IT-IC to claim Georgia’s investment tax credit. The 2025 form applies to taxable years beginning on or after January 1, 2025.
To qualify, taxpayers must have operated an existing manufacturing or telecommunications facility, or a related support facility, in Georgia for three years and filed all required returns.
For qualified investment property purchased or acquired in tax years beginning on or after January 1, 2020, including 2025, the minimum investment is $100,000 for all county tiers.
What you'll need
Have the following information ready to complete the form:
- Tax ID number, business name, address, phone number and contact person.
- County where the investment occurs, county tier and preapproval letter ID.
- Purchase or acquisition dates and costs of approved qualified investment property, separated into regular-rate and higher-rate property.
- Current tax liability, prior-year credit carryovers and credits used in prior and current years.
- Basis in approved qualified investment property acquired during the year and fair market value of leased property treated as qualified investment property.
- Details about recoverable materials being recycled and their use as components of manufactured products, if applicable.
Attach a project narrative. The form also requires a company officer’s signature and title.
How to file
Complete Form IT-IC and attach both pages, pages 1 and 2, to your tax return to claim the credit.
Calculate the regular-rate and higher-rate credits separately, then add those amounts and any prior-year carryover to find the available credit. Line 9 is the smaller of the available credit or 50% of your tax liability before credits. Enter that amount as the credit on your return.
The supplied form does not give a mailing address or e-filing instructions.
Common mistakes
- Leaving out a page: Both pages of Form IT-IC must be attached to your return to claim the credit.
- Overlooking the office-space restriction: A recycling manufacturing facility does not qualify for the higher rates if support staff office space exceeds 10% of total building space.
- Ignoring the carryforward condition: The form allows unused credit to be carried forward for five years from the close of the taxable year in which the property was acquired, provided the property remains in service.
Questions people ask
What are the regular credit rates?
The credit is 5% of qualified investment property cost in tier 1 counties, 3% in tier 2, and 1% in tiers 3 and 4.
What property can qualify for higher rates?
Higher rates apply to qualifying recycling machinery or recycling manufacturing facilities, pollution control or prevention machinery, equipment or facilities, and property used to convert from defense to domestic production. The rates are 8% for tier 1, 5% for tier 2, and 3% for tiers 3 and 4.
How much credit can I use on my return?
The form limits the credit claimed to the smaller of your available credit, including prior-year carryovers, or 50% of your tax liability before any credits.
Can unused credit be carried forward?
Yes. The form states that unused credit may be carried forward for five years from the close of the taxable year in which the qualified investment property was acquired, provided the property remains in service.