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Georgia Senate votes to limit state's tax credits for developers

Georgia Senate votes to limit state's tax credits for developers

Thu 29 Mar 2012 9:18am GMT / 5:18am EDT / 2:18am PDT
Politics

Bill could see benefit capped at $25m, company max of $5m

The Senate in the US state of Georgia has voted unanimously to cap the region's tax credits to the games industry at $25 million per year, with each individual company eligible for a maximum $5 million slice of the 30 per cent income tax benefit.

Whilst the bill is not yet law, the 46-0 vote in the Senate would seem to indicate that it will see little opposition on its way to becoming so.

Initially, reports Gamasutra, the state had intended to cut off all tax credits to the games industry, with the amendment to limit only being a later addition.

The limitations are seen as an attempt to maximise the benefits to small developers, rather than allowing large entities to swallow the entire amount.

The bill must now pass through the House of Representatives before it's passed as legislation.

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