Georgia Enacts Law on Tax Credits for Forestry Manufacturing

The Georgia Governor signed a law to amend the state’s income tax code by providing various tax credits for forestry manufacturing facilities that utilize wood fiber or forest-derived biomass from domestically sourced virgin timber. The law includes establishing tiered tax credit rates, ranging from 3 percent to 15 percent, based on county tier, and allows credits to be transferred to other Georgia taxpayers. The law takes effect July 1 and applies to taxable years beginning on or after Jan. 1, 2026, through Dec. 31, 2030. [H.B. 134, enacted 05/06/26]

This story was produced by Bloomberg Tax Automation, and edited by ...