IT-SCF: Seed-Capital Fund Tax Credits (Revision 2025-06)
Georgia · Georgia DOR · Used for tax years 2025, 2026
Georgia Form IT-SCF calculates seed-capital fund income tax credits for qualified investments in a research fund or in a legal entity in which the research fund has invested. It reports qualified investment amounts, current-year credits, credits carried forward and Georgia income
Who files this form
Taxpayers claiming the Georgia Seed-Capital Fund Tax Credit must attach Form IT-SCF to their income tax return. The form covers:
- Qualified investments in a research fund under O.C.G.A. § 48-7-40.27.
- Qualified investments under O.C.G.A. § 48-7-40.28 in a legal entity in which the research fund has invested. The taxpayer must have invested at the research fund’s invitation, with the express intention of allowing the taxpayer to qualify for the credit.
The form is for taxable years beginning on or after January 1, 2025.
What you'll need
You must attach both Form IT-SCF and the certification(s) issued by the research fund to your income tax return when claiming the credit.
To complete the form, have the following information available:
- Tax year end, taxpayer’s legal name and address, FEI number, and Social Security number if an individual.
- Contact person’s name, title, and telephone number.
- Qualified investment amounts for Sections B and C, as applicable.
- Credit carried forward from prior years and current-year Georgia income tax liability.
- The signer’s printed name, title, signature, and date.
How to file
Complete the taxpayer information in Section A and the applicable investment credit calculations in Sections B and C. Combine the credits in Section D, then complete Section E using prior-year credit carryforwards and current-year Georgia income tax liability.
Sign and date Section F to certify that the investment information is true and accurate to the best of your knowledge. The signature line is for a corporate officer, partner, member, tax matters person, or individual.
Attach the completed form and the research fund’s certification(s) to your income tax return. The form does not provide a mailing address or e-file instructions.
Common mistakes
- Claiming both credits for the same investment. You cannot claim the credit under § 48-7-40.27 for an investment if you claim the credit under § 48-7-40.28 for that investment.
- Claiming the § 48-7-40.28 credit for cash invested in the research fund. The form expressly prohibits this.
- Carrying credit forward beyond five years. The credit carryforward cannot exceed five years.
- Omitting required attachments. Both this form and the research fund’s certification(s) must accompany your income tax return.
- Entering a negative remaining credit. Section E, line 5 cannot be less than zero.
Questions people ask
What is a research fund?
The form defines it as an investment entity under paragraph (7) of Code Section 10-10-1 whose purpose is to provide early-stage financing for businesses formed from intellectual property resulting from research conducted at Georgia research universities.
What credit percentages does the form use?
Section B uses 25% of the qualified investment under § 48-7-40.27. Section C uses 10% of the qualified investment under § 48-7-40.28.
How do I calculate the current-year credit?
Multiply each applicable qualified investment by its credit percentage. Enter the resulting credits in Section D and add them together.
How long can I carry the credit forward?
The form states that the credit carryforward cannot exceed five years.