You have a second chance to apply for this lucrative tax credit
For those seeking tax credits, you have a short-term window of opportunity to apply for the Rural Hospital Tax Credit Program. If you’re not familiar with the program, it was created to help small-town hospitals that have been struggling to remain open. Pre-approved Georgia taxpayers (individuals and corporations) can contribute to this program and receive a 100% tax credit. About 60 qualifying hospitals use the funds for activities such as construction, repairs, and debt reduction.
The original deadline for 2018 applications was supposed to be October 1, but the Georgia Department of Revenue announced in July that the $60 million annual tax credit cap had been met. Turns out that there’s still room, so the Georgia Department of Revenue will reopen the application process at 8:00 AM on November 15. New applications must be submitted through the Georgia Tax Center, and will be reviewed on a first-come-first-served basis until the tax credit cap is met. Previous applications were not held, so everyone must re-apply.
If you’re interested in learning more about the program, and whether it’s a good fit for your financial situation, please contact us immediately to set up an appointment. We can help you get your application filed right when the program reopens.
Neal Bach, CPA
Bach, James, Mansour & Company
Direct Line: 770-821-1026