OIT-APP: Optional Investment Tax Credit Application (Revision 2024-10)
Georgia · Georgia DOR · Used for tax years 2024, 2025, 2026
Form OIT-APP requests tentative approval of a project plan for Georgia’s Optional Investment Tax Credit. It provides information about the taxpayer’s manufacturing facilities, construction or expansion project, and qualified investment property, with an attached project narrative
Who files this form
Use Form OIT-APP to request approval of a project plan for Georgia’s optional investment tax credit for constructing or expanding a manufacturing facility.
To be eligible, the taxpayer must have:
- Operated an existing manufacturing facility or related manufacturing support facility in Georgia for the immediately preceding three years.
- Filed all required state tax returns.
The project must involve purchasing or acquiring qualified investment property under a project plan. An expansion must increase the taxpayer’s asset base and be reasonably related or necessary to the manufacturing process.
What you'll need
Gather the information and attachments requested by the application:
- Facility information: Tax ID numbers, names, addresses, phone numbers, organization or incorporation dates, and details about the existing facility used to establish eligibility. For the facility where the credit will be claimed, also provide the entity type, county, county tier, and tax-year information.
- Project information: Start date, completion date or estimated completion date, whether the project is new construction or an expansion, and whether other listed tax credits have been claimed for it.
- Detailed project narrative: Describe the project and explain how the property purchased or acquired and placed in service relates to the manufacturing operation.
- Schedule of Qualified Investment Property: Include property type, quantity, purchase or acquisition date, date first placed in service, basis, fair market value of leased property that may qualify, and capitalized cost.
- Property service information: State when the property was first placed in service and whether it remains in service.
How to file
Complete sections A through F and attach the detailed project narrative and Schedule of Qualified Investment Property.
The corporation’s president or another principal officer must sign the application and provide their typed name, title, and date.
File the application with:
Georgia Department of Revenue
Taxpayer Services Division
2595 Century Parkway NE
Atlanta, GA 30345-3173
After review and approval by the Commissioner, a signed copy will be returned to you. When claiming the credit, attach copies of the approved Form OIT-APP and Form IT-OIC to your Georgia income tax return.
Common mistakes
- Treating property sitting on-site as placed in service. The property must be regularly used in the manufacturing process. Merely placing inactive or surplus property at the facility does not count.
- Counting property acquired before eligibility was established. Only property purchased or acquired and placed in service after the eligibility requirement is met may be used to compute the credit. Property acquired in earlier taxable years cannot be claimed for those years through amended returns.
- Combining incompatible credits for the same project. Electing this credit is irrevocable. After that election, the taxpayer cannot claim the job, headquarter jobs, quality jobs, or regular investment tax credit for the same project. Previously claiming the job or regular investment tax credit also prevents claiming this credit for that project in a later year.
- Leaving approved forms off the income tax return. Attach copies of the approved Form OIT-APP and Form IT-OIC when claiming the credit.
Questions people ask
When can I begin taking the credit?
You may begin taking the credit in the year after qualified investment property is first placed in service. The taxable year when it is first placed in service is the “base year.”
What if my project is not finished when I complete the application?
Enter the estimated completion date. If you elect to claim the credit before completion, after purchasing or acquiring qualified investment property exceeding the minimum threshold amount, you may submit a preliminary application with the tax return claiming the credit. The text does not state the threshold amount.
Does project-plan approval mean there will be no further review?
No. The application is for tentative approval of a project plan, subject to a later detailed audit by the Department.
What makes property qualified investment property?
The instructions define it as property described in O.C.G.A. Sections 48-7-40.2(a)(2), 48-7-40.3(a)(2), and 48-7-40.4(a)(2) that is reasonably related or necessary to the taxpayer’s manufacturing process. The Commissioner may review each purchase or acquisition for which a credit is claimed.