The state Department of Revenue is asking some companies to pay back almost 1.6 million dollars in tax credits they received for importing more goods through Georgia ports. Department officials say credits are only granted for exports, but at least four companies were given credits for importing goods since a tax break was started in 1998. Georgia's Revenue Commissioner says import tax credits were given by mistake--they were discovered when Georgia Power was seeking a big refund for equipment it had sent to Georgia ports in 2002, '03, and '04. Georgia law allows companies who qualify for certain business expansion credits, to get money for showing increased use of ports in Savannah and Brunswick.
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Thursday, September 13, 2007
State tax officials ask for money back
Posted by
Edgar Treiguts
at
9/13/2007 07:43:00 AM
Labels: Georgia Department of Revenue, Georgia Power, tax credit