Georgia Disaster Assistance Credit
Georgia provides a tax credit for a taxpayer who receives disaster assistance during a taxable year from the Georgia Emergency Management Agency or the Federal Emergency Management Agency. The amount of the credit is equal to $500 or the actual amount of the disaster assistance, whichever is less.
Eligibility
Grants from the Department of Human Resources? Individual and Family Grant Program, Grants from GEMA and/or FEMA, Loans from the Small Business Administration that are due to disasters declared by the President or Governor. The approval letter from the disaster assistance agency must be enclosed with the return.
(Non)Refundable
Refundable
How To Claim
To claim this credit Form IND-CR should be enclosed with Form 500.
Additional Info
The credit cannot exceed the taxpayer?s income tax liability. Any unused tax credit can be carried forward to the succeeding years? tax liability but cannot be carried back to the prior years? tax liability.
Disaster Assistance Credit